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REGISTERED NUMBER: 02972380 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 November 2024

for

Mail Box Express Limited

Mail Box Express Limited (Registered number: 02972380)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mail Box Express Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: J D Shaw
Mrs S Shaw





REGISTERED OFFICE: Unit 9
Bridge Court
Leeds
West Yorkshire
LS11 9TU





REGISTERED NUMBER: 02972380 (England and Wales)





ACCOUNTANTS: Equate Limited
Chartered Certified Accountants
The Hive
142 Thornes Lane
Wakefield
West Yorkshire
WF2 7RE

Mail Box Express Limited (Registered number: 02972380)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,246 16,721
Tangible assets 5 238,314 174,618
251,560 191,339

CURRENT ASSETS
Debtors 6 265,882 250,141
Cash at bank 4,539 3,137
270,421 253,278
CREDITORS
Amounts falling due within one year 7 284,066 275,850
NET CURRENT LIABILITIES (13,645 ) (22,572 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

237,915

168,767

CREDITORS
Amounts falling due after more than one
year

8

(182,363

)

(90,443

)

PROVISIONS FOR LIABILITIES (45,280 ) (44,348 )
NET ASSETS 10,272 33,976

CAPITAL AND RESERVES
Called up share capital 101,000 101,000
Retained earnings (90,728 ) (67,024 )
10,272 33,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mail Box Express Limited (Registered number: 02972380)

Balance Sheet - continued
30 November 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:





J D Shaw - Director


Mail Box Express Limited (Registered number: 02972380)

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

1. STATUTORY INFORMATION

Mail Box Express Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 December 2023
and 30 November 2024 69,500 37,075 106,575
AMORTISATION
At 1 December 2023 52,779 37,075 89,854
Charge for year 3,475 - 3,475
At 30 November 2024 56,254 37,075 93,329
NET BOOK VALUE
At 30 November 2024 13,246 - 13,246
At 30 November 2023 16,721 - 16,721

Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 7,133 69,357 359,949 89,917 526,356
Additions - - 226,140 - 226,140
Disposals - - (200,702 ) - (200,702 )
At 30 November 2024 7,133 69,357 385,387 89,917 551,794
DEPRECIATION
At 1 December 2023 7,133 61,504 202,477 80,624 351,738
Charge for year - 1,179 95,902 1,859 98,940
Eliminated on disposal - - (137,198 ) - (137,198 )
At 30 November 2024 7,133 62,683 161,181 82,483 313,480
NET BOOK VALUE
At 30 November 2024 - 6,674 224,206 7,434 238,314
At 30 November 2023 - 7,853 157,472 9,293 174,618

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 5,015 352,611 32,290 389,916
Additions - 226,140 - 226,140
Disposals - (200,702 ) - (200,702 )
At 30 November 2024 5,015 378,049 32,290 415,354
DEPRECIATION
At 1 December 2023 5,015 195,602 31,212 231,829
Charge for year - 95,131 213 95,344
Eliminated on disposal - (137,198 ) - (137,198 )
At 30 November 2024 5,015 153,535 31,425 189,975
NET BOOK VALUE
At 30 November 2024 - 224,514 865 225,379
At 30 November 2023 - 157,009 1,078 158,087

Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 242,181 195,038
Other debtors 1,500 4,075
Directors' current accounts - 7,413
Tax 22,201 22,201
Prepayments and accrued income - 21,414
265,882 250,141

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts - 39,530
Other loans 31,480 24,215
Hire purchase contracts (see note 9) 87,457 61,235
Trade creditors 78,768 63,705
Tax (30,049 ) 35,979
Social security and other taxes 13,432 20,233
VAT 17,330 22,628
Other creditors 4,264 2,889
Directors' current accounts 25,856 -
Accruals and deferred income 55,528 5,436
284,066 275,850

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Other loans - 1-2 years 27,448 22,035
Other loans - 2-5 years 39,641 16,922
Hire purchase contracts (see note 9) 115,274 51,486
182,363 90,443

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.24 30.11.23
£    £   
Net obligations repayable:
Within one year 87,457 61,235
Between one and five years 115,274 51,486
202,731 112,721

Mail Box Express Limited (Registered number: 02972380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
30.11.24 30.11.23
£    £   
Within one year 24,638 30,530
Between one and five years 66,813 4,554
91,451 35,084

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Hire purchase contracts 202,731 112,721
Loans 98,569 102,702
301,300 215,423

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company rents a vehicle repair unit from the director at an annual cost of £4,000 (2023: £4,000)

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J D Shaw.

13. GONG CONCERN

The company is continuing to improve it's trading performance and financial position. The accounts have been prepared on the going concern basis given this and the fact the directors are willing to support the company as required.