Shropshire Express Deliveries Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08387021

Shropshire Express Deliveries Ltd

Filleted Unaudited Financial Statements

31 March 2025

Shropshire Express Deliveries Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		2,086,723		2,161,227

Current assets

Debtors	6	812,998	586,186
Cash at bank and in hand		356,819	218,586
		-------------	----------
		1,169,817	804,772

Creditors: amounts falling due within one year	7	916,944		753,126
		-------------		----------
Net current assets			252,873		51,646
			-------------		-------------
Total assets less current liabilities			2,339,596		2,212,873

Creditors: amounts falling due after more than one year	8		535,173		659,551

Provisions	460,812	359,679
	-------------	-------------
Net assets	1,343,611	1,193,643
	-------------	-------------

Capital and reserves

Called up share capital	10	2,501	2,501
Profit and loss account		1,341,110	1,191,142
		-------------	-------------
Shareholders funds		1,343,611	1,193,643
		-------------	-------------

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 31st March 2025 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 .

Shropshire Express Deliveries Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 4 September 2025 , and are signed on behalf of the board by:

Mr N J Bennett

Director

Company registration number: 08387021

Shropshire Express Deliveries Ltd

Notes to the Financial Statements

Year ended 31st March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Woodgreen Farm, Woodhouse Lane, Redhill, Telford, TF2 9NZ.

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 presented in sterling which is the functional currency of the company and rounded to the nearest £.

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 for goods supplied and services rendered, net of discounts and Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	15% straight line
Motor vehicles	-	15% straight line
Equipment	-	33% straight line

The directors consider that the freehold property is maintained in such a state of repair that the residual value is at least equal to the net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. The directors perform annual impairment reviews in accordance with relevant accounting standards to ensure that the carrying value is not lower than the recoverable amount.

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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 24 (2024: 25 ).

5. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1st April 2024	579,018	33,454	2,309,605	7,795	2,929,872
Additions	–	–	429,710	1,686	431,396
Disposals	–	–	( 195,500)	–	( 195,500)
	----------	---------	-------------	-------	-------------
At 31st March 2025	579,018	33,454	2,543,815	9,481	3,165,768
	----------	---------	-------------	-------	-------------
Depreciation
At 1st April 2024	–	8,477	754,549	5,619	768,645
Charge for the year	–	5,018	355,500	2,038	362,556
Disposals	–	–	( 52,156)	–	( 52,156)
	----------	---------	-------------	-------	-------------
At 31st March 2025	–	13,495	1,057,893	7,657	1,079,045
	----------	---------	-------------	-------	-------------
Carrying amount
At 31st March 2025	579,018	19,959	1,485,922	1,824	2,086,723
	----------	---------	-------------	-------	-------------
At 31st March 2024	579,018	24,977	1,555,056	2,176	2,161,227
	----------	---------	-------------	-------	-------------

6. Debtors

	2025	2024
	£	£
Trade debtors	472,508	517,842
Other debtors	340,490	68,344
	----------	----------
	812,998	586,186
	----------	----------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	12,329	30,320
Trade creditors	350,362	261,488
Social security and other taxes	126,920	132,166
Other creditors	427,333	329,152
	----------	----------
	916,944	753,126
	----------	----------

The bank loan is secured against all assets of the company.

Included within other creditors is £231,427 (2024 - £292,534) in respect of hire purchase and finance lease liabilities which are secured against the fixed assets to which they have financed.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	196,274	214,245
Other creditors	338,899	445,306
	----------	----------
	535,173	659,551
	----------	----------

The bank loan is secured against all assets of the company.

Included within other creditors is £338,899 (2024 - £445,306) in respect of hire purchase and finance lease liabilities which are secured against the fixed assets to which they have financed.

Included within creditors: amounts falling due after more than one year is an amount of £146,956 (2024 - £154,516) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	460,812	359,679
	----------	----------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	460,812	359,679
	----------	----------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	1,501	1,501	1,501	1,501
Ordinary B shares of £ 1 each	500	500	500	500
Ordinary C shares of £ 1 each	500	500	500	500
	-------	-------	-------	-------
	2,501	2,501	2,501	2,501
	-------	-------	-------	-------

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	5,964	2,786
	-------	-------

12. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr N J Bennett	48,530	200,015	–	248,545
Mr S J Broome	( 127)	( 312)	138	( 301)
	---------	----------	----	----------
	48,403	199,703	138	248,244
	---------	----------	----	----------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr N J Bennett	28,379	20,151	–	48,530
Mr S J Broome	30,048	( 30,175)	–	( 127)
	---------	---------	----	---------
	58,427	( 10,024)	–	48,403
	---------	---------	----	---------

Interest has been charged on overdrawn balances at 2.25% per annum up to 5th April 2024 and the loans are repayable on demand.