General Information
Organic Delivery Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 10036620, registration address Unit 6 12 13 14, Felthambrook Ind Estate Feltham Way, Feltham, Middlesex, TW13 7DU.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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)
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Income is recognised when the order has been despatched.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on cost
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
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.
Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.
|
| 2. |
Average number of employees
Average number of employees during the year was 10 (2023 : 13).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 January 2024 |
645 |
|
4,167 |
|
4,812 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 31 December 2024 |
645 |
|
4,167 |
|
4,812 |
| Depreciation |
| At 01 January 2024 |
- |
|
- |
|
- |
| Charge for year |
129 |
|
833 |
|
962 |
| On disposals |
- |
|
- |
|
- |
| At 31 December 2024 |
129 |
|
833 |
|
962 |
| Net book values |
| Closing balance as at 31 December 2024 |
516 |
|
3,334 |
|
3,850 |
| Opening balance as at 01 January 2024 |
645 |
|
4,167 |
|
4,812 |
|
| 4. |
Stocks
|
2024
£ |
|
2023
£ |
| Stocks |
6,700 |
|
7,000 |
|
6,700 |
|
7,000 |
|
| 5. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Debtors |
10,792 |
|
8,656 |
| Prepayments & Accrued Income |
96,546 |
|
348,974 |
|
107,338 |
|
357,630 |
|
| 6. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Creditors |
51,607 |
|
41,959 |
| Corporation Tax |
9,566 |
|
0 |
| PAYE & Social Security |
2,139 |
|
1,818 |
| Accrued Expenses |
3,500 |
|
4,402 |
| Other Creditors |
119,285 |
|
395,690 |
| VAT |
1,057 |
|
2,632 |
|
187,154 |
|
446,501 |
|
2
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