Parcel ABC Limited 31/03/2025 iXBRL

Company registration number: 08940567

Parcel ABC Limited

Unaudited filleted financial statements

31 March 2025

Parcel ABC Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Parcel ABC Limited

Directors and other information


	Director	Mr Andrius Balkunas


	Company number	08940567


	Registered office	5 Underwood Street
		London
		N1 7LY

Parcel ABC Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	429,875		451,054
Tangible assets	6	3,184		3,616
		_______		_______
			433,059		454,670

Current assets
Debtors	7	129,066		64,375
Cash at bank and in hand		13,892		11,579
		_______		_______
		142,958		75,954
Creditors: amounts falling due
within one year	8	( 187,933)		( 224,005)
		_______		_______
Net current liabilities			( 44,975)		( 148,051)
			_______		_______
Total assets less current liabilities			388,084		306,619

Creditors: amounts falling due
after more than one year	9		( 1,292,362)		( 1,265,837)
			_______		_______
Net liabilities			( 904,278)		( 959,218)
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			( 904,378)		( 959,318)
			_______		_______
Shareholders deficit			( 904,278)		( 959,218)
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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.

These financial statements were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

Mr Andrius Balkunas

Director

Company registration number: 08940567

Parcel ABC Limited

Notes to the financial statements

Year ended 31 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 5 Underwood Street, London, N1 7LY.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

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 provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

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:


Development costs	-	straight line over 10 years

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.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:


Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 April 2024	842,677	842,677
Additions	70,098	70,098
	_______	_______
At 31 March 2025	912,775	912,775
	_______	_______
Amortisation
At 1 April 2024	391,623	391,623
Charge for the year	91,277	91,277
	_______	_______
At 31 March 2025	482,900	482,900
	_______	_______
Carrying amount
At 31 March 2025	429,875	429,875
	_______	_______
At 31 March 2024	451,054	451,054
	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 April 2024	8,155	8,155
Additions	1,221	1,221
	_______	_______
At 31 March 2025	9,376	9,376
	_______	_______
Depreciation
At 1 April 2024	4,539	4,539
Charge for the year	1,653	1,653
	_______	_______
At 31 March 2025	6,192	6,192
	_______	_______
Carrying amount
At 31 March 2025	3,184	3,184
	_______	_______
At 31 March 2024	3,616	3,616
	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	72,677	40,434
Amounts owed by group undertakings and undertakings in which the company has a participating interest	4,173	2,559
Other debtors	52,216	21,382
	_______	_______
	129,066	64,375
	_______	_______

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	124,539	161,290
Social security and other taxes	12,937	14,634
Other creditors	50,457	48,081
	_______	_______
	187,933	224,005
	_______	_______

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

	2025	2024
	£	£
Other creditors	1,292,362	1,265,837
	_______	_______

10. Controlling party

The reporting entity is wholly owned by Parcel ABC Worldwide SIA, a company registered in the Republic of Latvia.