Sonic Express Couriers Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06393182 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

SONIC EXPRESS COURIERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Coles

REGISTERED OFFICE:

24 Spencer View

Ellistown

Coalville

Leicestershire

LE67 1FW

REGISTERED NUMBER:

06393182 (England and Wales)

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Tangible assets

4

8,453

1,628

CURRENT ASSETS

Debtors

5

12,951

11,745

Cash at bank and in hand

10,332

6,436

23,283

18,181

CREDITORS

Amounts falling due within one year

6

15,953

19,463

NET CURRENT ASSETS/(LIABILITIES)

7,330

(1,282

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,783

346

CREDITORS

Amounts falling due after more than one year

7

15,739

-

NET ASSETS

44

346

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

42

344

SHAREHOLDERS' FUNDS

44

346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 10 July 2018 and were signed by:

L Coles - Director

1.	STATUTORY INFORMATION

Sonic Express Couriers Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of

receivables is established where there is objective evidence that the company will not be able to collect all

amounts due according to the original terms of payment. Receivables are considered for impairment on a case by

case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using

the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the

contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in

which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid

investments with original maturities of three months or less, and bank overdrafts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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 end 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2016

710

4,586

-

-

5,296

Additions

-

-

7,897

1,041

8,938

At 30 September 2017

710

4,586

7,897

1,041

14,234

DEPRECIATION

At 1 October 2016

598

3,070

-

-

3,668

Charge for year

22

303

1,579

209

2,113

At 30 September 2017

620

3,373

1,579

209

5,781

NET BOOK VALUE

At 30 September 2017

90

1,213

6,318

832

8,453

At 30 September 2016

112

1,516

-

-

1,628

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,894

5,841

Directors' current accounts

-

1,937

Prepayments and accrued income

6,057

3,967

12,951

11,745

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

5,555

-

Trade creditors

1,326

3,372

Tax

3,743

5,283

VAT

562

9,728

Other creditors

1,486

-

Directors' current accounts

2,331

-

Accrued expenses

950

1,080

15,953

19,463

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

15,739

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 October 2016

344

Profit for the year

11,298

Dividends

(11,600

)

At 30 September 2017

42

10.	RELATED PARTY DISCLOSURES

As at 30 September 2017 an amount of £2,331 was owed to the director by the company (2016 £1,937 due to the

company\. This amount is shown under creditors in the balance sheet.

11.	ULTIMATE CONTROLLING PARTY

The utimate controlling parties are Mr L Coles and Mrs R Arnett.