Parcel Donkey Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08367699 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

PARCEL DONKEY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Z Chen

REGISTERED OFFICE:

53 Brearley Street

Birmingham

West Midlands

B19 3NS

REGISTERED NUMBER:

08367699 (England and Wales)

ACCOUNTANTS:

Stanley Yule Chartered Accountants

Waterside House

Waterside Business Park

1649 Pershore Road

Birmingham

West Midlands

B30 3DR

FIXED ASSETS

Tangible assets

4

21,804

18,235

CURRENT ASSETS

Stocks

9,000

62,500

Debtors

5

145,309

85,949

Cash at bank and in hand

12,933

52,766

167,242

201,215

CREDITORS

Amounts falling due within one year

6

318,774

244,737

NET CURRENT LIABILITIES

(151,532

)

(43,522

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(129,728

)

(25,287

)

PROVISIONS FOR LIABILITIES

845

845

NET LIABILITIES

(130,573

)

(26,132

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(130,673

)

(26,232

)

SHAREHOLDERS' FUNDS

(130,573

)

(26,132

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 14 May 2018 and were signed by:

Z Chen - Director

1.	STATUTORY INFORMATION

Parcel Donkey Ltd is a private company, limited by shares, registered in England and Wales.

The company registered number is 08367699.

The company's registered office is

53 Brearley Street

Hockley

Birmingham

England

B19 3NS

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 represents net invoiced sales of goods , excluding value added tax arising from the supply of delivery services.

Income is recognised on despatch of delivery services rendered.

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 etc

-

33% on reducing balance, 25% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items. Net realisable value is the estimated proceeds from the sale of items of stock, less all further costs to be incurred

in marketing, selling and distributing the items in question.

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 4 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

22,971

Additions

7,613

At 31 March 2018

30,584

DEPRECIATION

At 1 April 2017

4,736

Charge for year

4,044

At 31 March 2018

8,780

NET BOOK VALUE

At 31 March 2018

21,804

At 31 March 2017

18,235

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

176

1,449

Amounts owed by joint ventures

60,000

-

Other debtors

85,133

84,500

145,309

85,949

Parcel Donkey Limited entered an agreement with Parcel force guaranteeing discounted rates for Global Direct Services

to China. To apply the reduced rates Parcel Donkey Ltd lodged a bond of £80,000 recognised as debtors in the financial

statements.

The amount owed by joint venture £60,000 is stock sales to Dropswell Laser Ltd, a company in which the director has

significant influence.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

15

Trade creditors

12,832

9,584

Taxation and social security

12,295

2,854

Other creditors

293,647

232,284

318,774

244,737

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the end of the year the company owed the director £ 290,024.