Swift (24 Hour) Courier Services Limited 02965884 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of courier delivery services. Digita Accounts Production Advanced 6.30.9574.0 true true 02965884 2023-10-01 2024-09-30 02965884 2024-09-30 02965884 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 02965884 core:Goodwill 2024-09-30 02965884 bus:SmallEntities 2023-10-01 2024-09-30 02965884 bus:Audited 2023-10-01 2024-09-30 02965884 bus:FilletedAccounts 2023-10-01 2024-09-30 02965884 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02965884 bus:RegisteredOffice 2023-10-01 2024-09-30 02965884 bus:Director3 2023-10-01 2024-09-30 02965884 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02965884 core:Goodwill 2023-10-01 2024-09-30 02965884 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 02965884 core:MotorVehicles 2023-10-01 2024-09-30 02965884 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 02965884 countries:England 2023-10-01 2024-09-30 02965884 2023-09-30 02965884 core:Goodwill 2023-09-30 02965884 2022-10-01 2023-09-30 02965884 2023-09-30 02965884 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 02965884

Swift (24 Hour) Courier Services Limited

Filleted Financial Statements

for the Year Ended 30 September 2024

 

Swift (24 Hour) Courier Services Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Swift (24 Hour) Courier Services Limited

(Registration number: 02965884)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

-

Current assets

 

Stocks

5

7,000

7,000

Debtors

6

1,923,157

1,766,159

Cash at bank and in hand

 

301,269

358,773

 

2,231,426

2,131,932

Creditors: Amounts falling due within one year

7

(700,721)

(648,494)

Net current assets

 

1,530,705

1,483,438

Net assets

 

1,530,705

1,483,438

Capital and reserves

 

Called up share capital

50,000

50,000

Profit and loss account

1,480,705

1,433,438

Total equity

 

1,530,705

1,483,438

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 

.........................................
A G Smith
Director

 

Swift (24 Hour) Courier Services Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Swift House
Hambridge Lane
Newbury
Berkshire
RG14 5TU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report
 

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report 5 June 2025 was Andrew Churchill Stone FCA DChA, who signed for and on behalf of Mercer Lewin Limited.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of courier delivery services provided to customers. Turnover is recognised when rights and responsibilities are transferred to the customer, which is on day of dispatch.

Tax

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Swift (24 Hour) Courier Services Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line basis

Motor vehicles

25% straight line basis

Other property, plant and equipment

25% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete. Due regard is given for obsolete and slow moving stock.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Swift (24 Hour) Courier Services Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 30).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

90,202

90,202

At 30 September 2024

90,202

90,202

Amortisation

At 1 October 2023

90,202

90,202

At 30 September 2024

90,202

90,202

Carrying amount

At 30 September 2024

-

-

5

Stocks

2024
£

2023
£

Other inventories

7,000

7,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

905,343

715,883

Amounts owed by related parties

917,271

1,018,809

Prepayments

 

51,743

12,967

Other debtors

 

48,800

18,500

   

1,923,157

1,766,159

 

Swift (24 Hour) Courier Services Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

418,491

391,254

Taxation and social security

167,293

155,562

Other creditors

114,937

101,678

700,721

648,494