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Abbreviated Unaudited Accounts for the Year Ended 31 May 2015 |
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Express Global Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 May 2015 |
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Express Global Limited |
Express Global Limited (Registered number: 05814669) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 May 2015 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Express Global Limited |
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Company Information |
for the Year Ended 31 May 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Express Global Limited (Registered number: 05814669) |
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Abbreviated Balance Sheet |
31 May 2015 |
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31.5.15 | 31.5.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Express Global Limited (Registered number: 05814669) |
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Abbreviated Balance Sheet - continued |
31 May 2015 |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Express Global Limited (Registered number: 05814669) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 May 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover relates to income arising in relation to the ordinary activities of the business, net of VAT and |
sales discounts. In accordance with generally accepted accounting standards for agents, import and |
export duties settled on behalf of customers are offset and are therefore not included within turnover. |
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Patents and licenses |
The company's franchise license has been amortised evenly over the original term of the agreement, |
which was 5 years starting 1 June 2006. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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 the profit and loss account in the period to which they |
relate. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 June 2014 |
and 31 May 2015 |
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AMORTISATION |
At 1 June 2014 |
and 31 May 2015 |
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NET BOOK VALUE |
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At 31 May 2015 |
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At 31 May 2014 |
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The company's intangible assets relate to it's franchise rights which have been purchased from |
Express Worldwide Limited, to cover the GU postcode area. |
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The value of the franchise rights, transferred to Express Global Limited, was calculated to be |
£200,000. This valuation has been agreed with the HM Revenue and Customs, Capital Taxes |
department. |
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The company's franchise license has been amortised evenly over the original term of the agreement, |
which was 5 years starting 1 June 2006. |
Express Global Limited (Registered number: 05814669) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 May 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 June 2014 |
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Additions |
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At 31 May 2015 |
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DEPRECIATION |
At 1 June 2014 |
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Charge for year |
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At 31 May 2015 |
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NET BOOK VALUE |
At 31 May 2015 |
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At 31 May 2014 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.15 | 31.5.14 |
value: | £ | £ |
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Ordinary A shares | £0.00 | 1 |
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(31.5.14 -
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Allotted and issued: |
Number: | Class: | Nominal | 31.5.15 | 31.5.14 |
value: | £ | £ |
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Ordinary B Shares | £0.00 | 1 |
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On the 22nd July 2014 the company's share capital of 100 ordinary 'A' shares was subdivided into |
100,000 ordinary 'A' shares. |
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5. | CONTROLLING PARTY |
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The company is under the control of A and B Mitchell by virtue of ordinary voting shares held. |