PEACOCK EXPRESS DISTRIBUTION LIMITED


Directors	Mr G E Peacock
	Mrs M H Peacock


Company Secretary	Mr G E Peacock


Registered Address	0/1 66 Highburgh Road
	Glasgow
	G12 9EN


Registered Number	SC316958 (Scotland)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		4,083		5,833
Tangible assets	4		86,796		116,063
			90,879		121,896
Current assets
Debtors	5	551,541		399,198
Cash at bank and on hand		52,609		33,105
		604,150		432,303
Creditors amounts falling due within one year	6	(333,085)		(199,306)
Net current assets (liabilities)			271,065		232,997
Total assets less current liabilities			361,944		354,893
Creditors amounts falling due after one year	7		-		(31,322)
Provisions for liabilities			(21,699)		(29,015)
Net assets			340,245		294,556
Capital and reserves
Called up share capital			100		100
Profit and loss account			340,145		294,456
Shareholders' funds			340,245		294,556

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 3 September 2025, and are signed on its behalf by:

Mr G E Peacock
Director

Mrs M H Peacock
Director

Registered Company No. SC316958

PEACOCK EXPRESS DISTRIBUTION LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered office is 0/1, 66 Highburgh Road, Glasgow, G12 9EN.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents net invoiced sales of services, excluding value added tax, attributable to the one principal activity of the company being that of light haulage and courier services.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Current taxation
	Current tax is recognised in profit or loss and represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss and represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.

	Goodwill
	Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected useful life, which is 20 years.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected useful life, which is 20 years.

	Tangible fixed assets and depreciation
	Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computers - 33% on reducing balance Motor vehicles - 20% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

Tangible fixed assets and depreciation

Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers                                                                     - 33% on reducing balance
Motor vehicles                                                               - 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately within current liabilities.

	Financial instruments
	The company only enters into basic financial instruments that result in the recognition of financial assets like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	17		17

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 January 24	35,000	35,000
At 31 December 24	35,000	35,000
Amortisation and impairment
At 01 January 24	29,167	29,167
Charge for year	1,750	1,750
At 31 December 24	30,917	30,917
Net book value
At 31 December 24	4,083	4,083
At 31 December 23	5,833	5,833

4.	Tangible fixed assets

	Vehicles	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 24	145,090	6,755	151,845
Additions	-	2,039	2,039
Disposals	-	(1,915)	(1,915)
At 31 December 24	145,090	6,879	151,969
Depreciation and impairment
At 01 January 24	33,091	2,691	35,782
Charge for year	29,018	1,040	30,058
On disposals	-	(667)	(667)
At 31 December 24	62,109	3,064	65,173
Net book value
At 31 December 24	82,981	3,815	86,796
At 31 December 23	111,999	4,064	116,063


	Included within motor vehicles is the written down value of £21,382 (2023 - £33,600) under hire purchase lease. Depreciation relating to the hire purchase asset was £12,218 (2023 - £12,218).

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	502,601	356,533
Other debtors	(13)	-
Prepayments and accrued income	48,953	42,665
Total	551,541	399,198

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	42,829	38,611
Bank borrowings and overdrafts	798	-
Taxation and social security	222,523	129,418
Finance lease and HP contracts	30,710	7,348
Other creditors	3,855	2,659
Accrued liabilities and deferred income	32,370	21,270
Total	333,085	199,306

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Other creditors	-	31,322
Total	-	31,322

8.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	30,710		38,670