Registered number
05929444
NGR Transport Limited
Filleted Accounts
31 March 2023
NGR Transport Limited
Registered number: 05929444
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 112,799 141,103
Current assets
Debtors 4 55,165 53,662
Cash at bank and in hand 184,823 147,942
239,988 201,604
Creditors: amounts falling due within one year 5 (72,987) (67,996)
Net current assets 167,001 133,608
Total assets less current liabilities 279,800 274,711
Provisions for liabilities (21,384) (26,762)
Net assets 258,416 247,949
Capital and reserves
Called up share capital 2 2
Profit and loss account 258,414 247,947
Shareholder's funds 258,416 247,949
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N G Read
Director
Approved by the board on 5 October 2023
NGR Transport Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery over 5 years
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2022 2,021 253,303 255,324
At 31 March 2023 2,021 253,303 255,324
Depreciation
At 1 April 2022 1,854 112,367 114,221
Charge for the year 167 28,137 28,304
At 31 March 2023 2,021 140,504 142,525
Net book value
At 31 March 2023 - 112,799 112,799
At 31 March 2022 167 140,936 141,103
4 Debtors 2023 2022
£ £
Trade debtors 54,508 53,072
Other debtors 657 590
55,165 53,662
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 15,296 16,172
Directors loan account 32,923 20,000
Taxation and social security costs 23,183 30,264
Other creditors 1,585 1,560
72,987 67,996
6 Controlling party
The company was under the control of N G Read throughout the year. Mr Read is the company's director and, together with members of his close family, he holds 100% of the company's issued share capital.
7 Other information
NGR Transport Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Martingale
Back Lane
Little Haywood
Stafford
ST18 0UL
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