Company Registration No. 09549192 (England and Wales)
Postworks Limited
Unaudited accounts
for the year ended 31 March 2025
Postworks Limited
Unaudited accounts
Contents
Postworks Limited
Company Information
for the year ended 31 March 2025
Directors
J. Booker
M. Booker
R. Hall
S. Moate
Company Number
09549192 (England and Wales)
Registered Office
Unit 2
94A Wycliffe Road
Northampton
NN1 5JF
England
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Postworks Limited
Statement of financial position
as at 31 March 2025
Intangible assets
1,153,134
729,921
Tangible assets
643,283
691,989
Cash at bank and in hand
477,367
204,764
Creditors: amounts falling due within one year
(2,015,106)
(1,221,809)
Net current liabilities
(488,313)
(219,028)
Total assets less current liabilities
1,308,104
1,202,882
Creditors: amounts falling due after more than one year
(841,473)
(1,033,821)
Net assets
466,631
169,061
Called up share capital
154
154
Share premium
449,940
449,940
Profit and loss account
16,537
(281,033)
Shareholders' funds
466,631
169,061
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. 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2025 and were signed on its behalf by
J. Booker
Director
Company Registration No. 09549192
Postworks Limited
Notes to the Accounts
for the year ended 31 March 2025
Postworks Limited is a private company, limited by shares, registered in England and Wales, registration number 09549192. The registered office is Unit 2, 94A Wycliffe Road, Northampton, NN1 5JF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have reviewed the company's Balance Sheet and consider that the company is able to continue in operation for the foreseeable future and that it can meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. This assessment is based on the company's current financial performance and cash flows at the date of approving these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover comprises revenue recognised by the Company in respect of online postage and franking services supplied during the year, exclusive of Value Added Tax. Turnover is recognised as the fair value of the consideration received or receivable and is recognised in the period in which the services are supplied.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Interest income is recognised in profit or loss using the effective interest method.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Short-term employee benefits, including holiday pay, are recognised as expenses as services are rendered. Contributions to defined contribution pension schemes are charged to profit or loss when due.
Postworks Limited
Notes to the Accounts
for the year ended 31 March 2025
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation: 10% Straight Line
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
25% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Short term debtors are measured at transaction price, less any impairment. Loans receivables 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.
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.
Short term trade 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Postworks Limited
Notes to the Accounts
for the year ended 31 March 2025
The tax expense for the year comprises of current tax. 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 reporting date in the countries where the company operates.
Research costs are expensed as incurred. Development costs are capitalised as intangible assets when the project is technically feasible, the company intends and is able to complete it, future benefits are probable, and costs can be measured reliably. Capitalised costs are amortised over their useful life, not exceeding ten years, and reviewed for impairment annually. All other development expenditure is charged to profit or loss.
4
Intangible fixed assets
Other
At 31 March 2025
1,663,438
Charge for the year
123,873
At 31 March 2025
1,153,134
Postworks Limited
Notes to the Accounts
for the year ended 31 March 2025
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
827,429
13,231
54,891
895,551
Additions
32,596
20,097
11,881
64,574
At 31 March 2025
859,224
33,328
66,772
959,324
At 1 April 2024
164,396
6,050
33,116
203,562
Charge for the year
95,717
5,940
10,822
112,479
At 31 March 2025
260,113
11,990
43,938
316,041
At 31 March 2025
599,111
21,338
22,834
643,283
At 31 March 2024
663,033
7,181
21,775
691,989
Finished goods
59,077
43,626
Amounts falling due within one year
Trade debtors
474,305
293,274
Amounts due from group undertakings etc.
22,885
-
Accrued income and prepayments
161,223
318,040
Other debtors
331,936
143,077
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Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
100,024
94,704
Obligations under finance leases and hire purchase contracts
111,591
111,591
Trade creditors
1,436,150
777,666
Taxes and social security
28,520
20,667
Other creditors
20,363
9,713
Deferred income
79,741
65,274
Postworks Limited
Notes to the Accounts
for the year ended 31 March 2025
9
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
115,693
220,397
Obligations under finance leases and hire purchase contracts
288,277
399,868
Other creditors
437,503
413,556
Creditors falling due after more than one year total £841,473. Of this, £0 is due after five years. The following amounts are secured: £288,277 secured against the asset.
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £4,318 (2024: £260) were payable to the fund at the reporting date and are included in creditors.
11
Operating lease commitments
2025
2024
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
26,595
26,595
Later than one year and not later than five years
1,539
28,134
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advances to Directors in the Year
44,490
15,356
68
59,778
Advances to Directors in the Year
44,490
11,457
274
55,673
88,980
26,813
342
115,451
Loans to directors include interest at 2.25%
13
Average number of employees
During the year the average number of employees was 33 (2024: 26).