ACCOUNTS - Final Accounts

Registered number: NI034773

IFS Courier Express Ltd

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

IFS Courier Express Ltd

Registered number: NI034773

Balance Sheet

As at 31 December 2024

	2024	2024	2023	2023
Note	£	£	£	£


Current assets
Debtors: amounts falling due within one year	4	726,588		769,767
Cash at bank and in hand	5	95,268		273,159
		821,856		1,042,926
Creditors: amounts falling due within one year	6	(479,406)		(470,691)
Net current assets			342,450		572,235
Total assets less current liabilities			342,450		572,235

Net assets			342,450		572,235

Capital and reserves
Called up share capital	200	200
Profit and loss account	342,250	572,035
	342,450	572,235

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 June 2025.

S Fleck

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

IFS Courier Express Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

1.	General information

IFS Courier Express Ltd is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in Sterling, rounded to the nearest pound.

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Ireland Freight Services (UK) Limited as at 31 December 2024 and these financial statements may be obtained from Companies House.

2.3

Going concern

The directors of IFS Courier Express Ltd have reviewed the resources available, including those from the wider Ireland Freight Services (UK) Ltd, and believe that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors believe that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.

Page 2

IFS Courier Express Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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IFS Courier Express Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Computer Hardware	-	20%	straight line
				Computer Software	-	20%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

IFS Courier Express Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

3.	Tangible fixed assets

	Computer Hardware	Computer Software	Total
	£	£	£
Cost or valuation
At 1 January 2024	1,461	6,710	8,171
At 31 December 2024	1,461	6,710	8,171
Depreciation
At 1 January 2024	1,461	6,710	8,171
At 31 December 2024	1,461	6,710	8,171
Net book value
At 31 December 2024	-	-	-
At 31 December 2023	-	-	-

Debtors

					2024	2023
					£	£


Trade debtors	711,008	725,650
Amounts owed by group undertakings	363	-
Other debtors	15,217	44,117
	726,588	769,767

5.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	95,268	273,159
	95,268	273,159

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IFS Courier Express Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	280,653	243,296
Amounts owed to group undertakings	155,156	121,849
Corporation tax	5,343	56,580
Other creditors	35,863	47,088
Accruals and deferred income	2,391	1,878
	479,406	470,691

7.	Related party transactions
	Details of transactions with related parties are listed below:

		2024	2023
		£	£

Entities with control over the entity
Amounts owed to entity	(53,067)	(22,538)
Salaries recharged by parent	215,440	193,789
Transactions with other related parties
Amounts owed to entities	(102,060)	(99,311)
Amounts owed by entities	363	-
Monthly management recharge - invoiced	874,908	841,260

8.	Controlling party

IFS Courier Express Ltd is a subsidiary of its parent undertaking Ireland Freight Services (UK) Ltd, a company incorporated in Northern Ireland (NI008586) and the parent entity of the largest and smallest group of which the company is a member and for which consolidated group financial statements are prepared. Copies of the group financial statements can be obtained from Companies House. The ultimate controlling party is the Estate of Mr W Anderson (Deceased).

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 30 June 2025 by Brian Clerkin (Senior Statutory Auditor) on behalf of Sumer Auditco NI Limited.

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