THE ALTERNATIVE PARCELS COMPANY TOPCO 2023 LIMITED

• ◆

  5 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After careful consideration of the above, the Directors remain of the view that the forecasts are achievable and that the headroom within the forecasts and associated covenants should be sufficient to enable the Group to operate and meet its liabilities as they fall due for payment throughout the period. Whilst the Directors note the possible impact of the UK economy on future activities and cash flows this is not considered to give rise to a material uncertainty given the factors noted above and the currently available cash balances and committed facilities. On this basis the Directors consider that it is appropriate to prepare the financial statements on the going concern basis.”

Group structure

1. THE ALTERNATIVE PARCELS COMPANY TOPCO 2023 LIMITED · parent
   1. The Alternative Parcels Company Midco 2023 Limited 1% · Intermediate holding company
   2. The Alternative Parcels Company Bidco 2023 Limited 1% · Dormant
   3. The Alternative Parcels Company Topco Limited 1% · Intermediate holding company
   4. The Alternative Parcels Company Midco Limited 1% · Intermediate holding company
   5. The Alternative Parcels Company Bidco Limited 1% · Intermediate holding company
   6. The Alternative Parcels Company Limited 1% · Providing transportation and sorting services for parcels and freight, which are collected and delivered nationally by our Network Members.
   7. APC Overnight Limited 1% · Dormant

Significant events

• “A new senior debt facility of £30m has been put in place by the new Group to support the acquisition, this debt is held in APC Holdco Limited. The debt funding was used to settle the outstanding shareholder loan notes and bank loans, which amounted to £4.62m and £20.85m respectively at the year end 31 March 2025.”
• “From 18 July 2025 we are pleased to announce that The Alternative Parcels Company Topco 2023 Limited group has a revised ownership structure. The new ownership is formed of APC Holdco Limited, DBAY Advisors Limited and investors, who hold a 78.32% majority stake in The Alternative Parcels Company Topco 2023 Limited group. Alongside this, our existing legacy, depot and management shareholders have retained a significant minority stake of 21.68% in the business. A new senior debt facility of £30m has been put in place by the new Group to support the acquisition. This debt funding was used to settle the outstanding Shareholder loan notes and bank loans, which amounted to £4.62m and £20.85m respectively at the year end.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

13

last 12 months

Capital events

2

last 24 months

Officers appointed

1

last 12 months

Officers resigned

5

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.