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COMPANY REGISTRATION NUMBER: 11949792
TD Express Ltd
Filleted Unaudited Financial Statements
30 September 2024
TD Express Ltd
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
TD Express Ltd
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
425
Tangible assets
6
701,112
347,470
---------
---------
701,112
347,895
Current assets
Debtors
7
576,427
786,149
Cash at bank and in hand
50,031
63,787
---------
---------
626,458
849,936
Creditors: amounts falling due within one year
8
494,314
588,351
---------
---------
Net current assets
132,144
261,585
---------
---------
Total assets less current liabilities
833,256
609,480
Creditors: amounts falling due after more than one year
9
511,054
229,589
Provisions
119,526
86,868
---------
---------
Net assets
202,676
293,023
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
202,576
292,923
---------
---------
Shareholders funds
202,676
293,023
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TD Express Ltd
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 26 June 2025 , and are signed on behalf of the board by:
Mr R K Body
Director
Company registration number: 11949792
TD Express Ltd
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 6 ).
5. Intangible assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
35,500
--------
Amortisation
At 1 October 2023
35,075
Charge for the year
425
--------
At 30 September 2024
35,500
--------
Carrying amount
At 30 September 2024
--------
At 30 September 2023
425
--------
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 October 2023
515,211
485
515,696
Additions
553,627
553,627
Disposals
( 5,775)
( 5,775)
------------
----
------------
At 30 September 2024
1,063,063
485
1,063,548
------------
----
------------
Depreciation
At 1 October 2023
167,741
485
168,226
Charge for the year
199,985
199,985
Disposals
( 5,775)
( 5,775)
------------
----
------------
At 30 September 2024
361,951
485
362,436
------------
----
------------
Carrying amount
At 30 September 2024
701,112
701,112
------------
----
------------
At 30 September 2023
347,470
347,470
------------
----
------------
7. Debtors
2024
2023
£
£
Trade debtors
273,435
461,389
Other debtors
302,992
324,760
---------
---------
576,427
786,149
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,311
10,056
Trade creditors
197,411
399,255
Corporation tax
66,635
87,480
Social security and other taxes
10,923
9,804
Other creditors
209,034
81,756
---------
---------
494,314
588,351
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,889
18,216
Other creditors
503,165
211,373
---------
---------
511,054
229,589
---------
---------
10. Directors' advances, credits and guarantees
At the balance sheet date, a director owed the company £69,318 (2023: £73,627). Advances of £2,000 (2023: £9,294) were made to the director and repayments of £8,000 (2023: £Nil) were made to the company. Interest of £1,691 (2023: £nil) was charged to the director.