Courier Holdings Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Courier Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07699529 . The registered office is Suite 310 115 Coventry Road, London, E2 6GH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The company has now ceased trading and will be liquidated.

2.3. Turnover

Turnover is recongnised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Sale of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing the costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Turnover in respect of services provided to the parent undertaking represents amounts receivable from its intermediate parent undertaking during the year. This turnover is generated under transfer pricing arrangements, exclusive of Value Added Tax. Turnover relating to services provided under these arrangements is recognised in accordance with the terms of each agreement.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	shorter of period of lease or useful life
Fixtures & Fittings	20%
Computer Equipment	25%

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.

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Courier Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes 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 an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic finanical assets, which include trade and other 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, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and bank loans, 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 payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Classification of financial liabilities

Financial liabilities and equity instruments are classifed according to the substance of the contractual arrangements 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.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

The charge for taxation is based on the profit or loss for the period and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes.

Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or right to pay less or to receive more, tax in the future, with the following exception:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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Courier Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.9. Share-based payments

The cost of equity-settled transactions with employees is measured by reference to the fair value at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date the relevant employees become fully entitled to the award. Fair value is determined using an appropriate pricing model.

Where the terms of an equity-settled award are modified or a new award is designated as replacing a cancelled or settled award, the cost based on the original award terms continues to be recognised over the original vesting period. In addition, an expense is recognised over the remainder of the new vesting period for the incremental fair value of an modification, based on the difference between the fair value of the original award and the fair value of the modified award, both as measured on the date of the modification. No reduction is recognised if this difference is negative.

2.10. Operating leases

All leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight-line basis over the lease term. Lease incentives are recognised over the expected lease term.

3. Average Number of Employees

Average number of employees during the year was: 2 (2024: 4)

4. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 August 2024	1,132,496	177,965	8,032	1,318,493
Additions	-	-	820	820
Disposals	(1,132,496 )	(177,965 )	(8,852 )	(1,319,313 )

As at 31 July 2025	-	-	-	-

Depreciation
As at 1 August 2024	1,132,496	177,965	746	1,311,207
Provided during the period	-	-	2,179	2,179
Disposals	(1,132,496 )	(177,965 )	(2,925 )	(1,313,386 )

As at 31 July 2025	-	-	-	-

Net Book Value
As at 31 July 2025	-	-	-	-

As at 1 August 2024	-	-	7,286	7,286

5. Debtors

	2025	2024
	£	£
Due within one year
Amounts owed by group undertakings	13,040	86,454
Other debtors	323	478,514

	13,363	564,968
Due after more than one year
Other debtors	-	394,100

	13,363	959,068

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Courier Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	9,460
Other creditors	9,181	124,069
Taxation and social security	1,413	6,221

	10,594	139,750

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	-	53,166

Creditors falling due after more than one year consists of the long term portion of the lease incentive.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	105	105

9. Other Commitments

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

	2025	2024
	£	£
Not later than one year	-	254,295
Later than one year and not later than five years	-	150,835

	-	405,130

10. Controlling Parties

The company's immediate parent undertaking and controlling party is LMW Holdings Limited, a company registered in Hong Kong.

11. Share Premium

During the year the Share Premium was reduced by £3,970,000 and repaid to the Shareholder.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		7,286

			-		7,286
CURRENT ASSETS
Debtors	5	13,363		959,068
Cash at bank and in hand		1,647		3,571,891

		15,010		4,530,959
Creditors: Amounts Falling Due Within One Year	6	(10,594 )		(139,750 )

NET CURRENT ASSETS (LIABILITIES)			4,416		4,391,209

TOTAL ASSETS LESS CURRENT LIABILITIES			4,416		4,398,495

Creditors: Amounts Falling Due After More Than One Year	7		-		(53,166 )

NET ASSETS			4,416		4,345,329

CAPITAL AND RESERVES
Called up share capital	8		105		105
Share premium account			3,043,068		7,013,068
Capital Contribution			4,368,905		4,368,905
Profit and Loss Account			(7,407,662 )		(7,036,749 )

SHAREHOLDERS' FUNDS			4,416		4,345,329