IRIS Accounts Production v24.1.0.578 02568016 Board of Directors 1.1.23 31.12.23 31.12.23 18.4.24 false true false false false true false Auditors Opinion "A" Ordinary 100.00000 "B Ordinary 100.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure025680162022-12-31025680162023-12-31025680162023-01-012023-12-31025680162021-12-31025680162022-01-012022-12-31025680162022-12-3102568016ns16:EnglandWales2023-01-012023-12-3102568016ns15:PoundSterling2023-01-012023-12-3102568016ns11:Director12023-01-012023-12-3102568016ns11:PrivateLimitedCompanyLtd2023-01-012023-12-3102568016ns11:SmallEntities2023-01-012023-12-3102568016ns11:Audited2023-01-012023-12-3102568016ns11:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102568016ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102568016ns11:FullAccounts2023-01-012023-12-310256801612023-01-012023-12-3102568016ns11:OrdinaryShareClass12023-01-012023-12-3102568016ns11:OrdinaryShareClass22023-01-012023-12-3102568016ns11:Director22023-01-012023-12-3102568016ns11:Director32023-01-012023-12-3102568016ns11:RegisteredOffice2023-01-012023-12-3102568016ns6:CurrentFinancialInstruments2023-12-3102568016ns6:CurrentFinancialInstruments2022-12-3102568016ns6:Non-currentFinancialInstruments2023-12-3102568016ns6:Non-currentFinancialInstruments2022-12-3102568016ns6:ShareCapital2023-12-3102568016ns6:ShareCapital2022-12-3102568016ns6:RetainedEarningsAccumulatedLosses2023-12-3102568016ns6:RetainedEarningsAccumulatedLosses2022-12-3102568016ns6:NetGoodwill2022-12-3102568016ns6:NetGoodwill2023-12-3102568016ns6:NetGoodwill2022-12-3102568016ns6:LandBuildings2022-12-3102568016ns6:PlantMachinery2022-12-3102568016ns6:FurnitureFittings2022-12-3102568016ns6:MotorVehicles2022-12-3102568016ns6:LandBuildings2023-01-012023-12-3102568016ns6:PlantMachinery2023-01-012023-12-3102568016ns6:FurnitureFittings2023-01-012023-12-3102568016ns6:MotorVehicles2023-01-012023-12-3102568016ns6:LandBuildings2023-12-3102568016ns6:PlantMachinery2023-12-3102568016ns6:FurnitureFittings2023-12-3102568016ns6:MotorVehicles2023-12-3102568016ns6:LandBuildings2022-12-3102568016ns6:PlantMachinery2022-12-3102568016ns6:FurnitureFittings2022-12-3102568016ns6:MotorVehicles2022-12-3102568016ns6:WithinOneYearns6:CurrentFinancialInstruments2023-12-3102568016ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3102568016ns6:Non-currentFinancialInstruments2023-01-012023-12-3102568016ns6:Secured2023-12-3102568016ns6:Secured2022-12-3102568016ns11:OrdinaryShareClass12023-12-3102568016ns11:OrdinaryShareClass22023-12-31
REGISTERED NUMBER: 02568016 (England and Wales)


























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M S Day
Mr W J Owen
Mr C R Van Noordt





REGISTERED OFFICE: Washway Lane
St Helens
Merseyside
WA10 6PE





REGISTERED NUMBER: 02568016 (England and Wales)





AUDITORS: Livesey Spottiswood Ltd
Chartered Accountants and
Statutory Auditors
17 George Street
St Helens
Merseyside
WA10 1DB

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,963,614 655,833
4,963,614 655,833

CURRENT ASSETS
Stocks 6 2,150 14,328
Debtors 7 1,946,841 1,879,661
Cash at bank and in hand 8,998 79,319
1,957,989 1,973,308
CREDITORS
Amounts falling due within one year 8 (1,512,622 ) (982,141 )
NET CURRENT ASSETS 445,367 991,167
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,408,981

1,647,000

CREDITORS
Amounts falling due after more than one year 9 (4,401,234 ) (600,000 )
NET ASSETS 1,007,747 1,047,000

CAPITAL AND RESERVES
Called up share capital 12 100,000 100,000
Retained earnings 907,747 947,000
SHAREHOLDERS' FUNDS 1,007,747 1,047,000

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





Mr M S Day - Director


NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Nijman Zeetank International Transport 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.

2. ACCOUNTING POLICIES

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

The company's functional and presentational currency is GBP. All mounts in these financial statements have been rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In preparing these financial statements, the directors have had to make the following judgements:

-Determine whether there are indicators of impairments of the Company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty:

Tangible fixed assets (see note 5) are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycle and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Deferred tax assets are recognised to the extent that it is probable that sufficient future taxable profits will be available against which the unused taxation losses from review of future profitability forecasts. The tax rates used are those that have been enacted or substantively enacted by the balance sheet date and may be subject to change by the UK Government.

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

-the amount of turnover can be measured reliably
-it is probable that the Company will receive the consideration due under the contract.
-the stage of completion of the contract at the end of the reporting period can be measured reliably; and
-the costs incurred and the costs to complete the contract can be measured reliably.

Pensions
Defined contribution pension plan
The company operated a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Finance costs
Finance costs are charged to the income statement over the term of the debt using the effective interest method so that the amount charged is at a consistent rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

At each reporting date, the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The cost of replacing a part of fixed assets added to carrying value of fixed assets where the replacement part is expected to provide incremental benefits to the Company. Repairs and maintenance are charged to the income statement during the period in which they are incurred.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual values over their estimated useful lives using the straight line method.

Depreciation is provided on the following basis:
Freehold property-4% to 10% per annum
Trucks, trailers, tools and equipment-14.29% to 50% per annum
Fixtures and fittings-20% to 50% per annum
Motor vehicles-20% - 33.33% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement.

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the income statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the income statement in the same period as the related expenditure.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the statement of financial position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the statement of financial position date.

Financial instruments
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

The Company's cash at bank and in hand and trade and other debtors and its trade and other creditors and bank overdrafts are measured initially at the transaction price, including transactions costs, and subsequently at amortised cost using the effective interest method. Debt instructions that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Foreign currencies
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefits from the use of the leased asset.

Going concern
In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis in preparing the accounts.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date on which the financial statements were approved. For this reason, they continue to adopt the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 (2022 - 64 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 100,000
AMORTISATION
At 1 January 2023
and 31 December 2023 100,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Trucks,
trailers, Fixtures
Freehold tools and and Motor
property equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 1,123,019 687,185 854,272 80,949 2,745,425
Additions - 4,555,587 48,569 - 4,604,156
Disposals - (81,496 ) - - (81,496 )
At 31 December 2023 1,123,019 5,161,276 902,841 80,949 7,268,085
DEPRECIATION
At 1 January 2023 631,956 620,152 756,535 80,949 2,089,592
Charge for year 6,224 180,725 70,260 - 257,209
Eliminated on disposal - (42,330 ) - - (42,330 )
At 31 December 2023 638,180 758,547 826,795 80,949 2,304,471
NET BOOK VALUE
At 31 December 2023 484,839 4,402,729 76,046 - 4,963,614
At 31 December 2022 491,063 67,033 97,737 - 655,833

Included in cost of land and buildings is freehold land of £ 450,000 (2022 - £ 450,000 ) which is not depreciated.

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. STOCKS
2023 2022
£    £   
Fuel stock 2,150 14,328

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,442,075 1,522,900
Other debtors 32,985 41,527
Amounts due from group undertakings 48,037 40,555
VAT 104,134 -
Deferred tax asset 277,781 263,056
Prepayments and accrued income 41,829 11,623
1,946,841 1,879,661

It is expected that the deferred tax asset will be recovered after more than one year.

All other debtors fall due within one year. Amounts owed by the group undertakings are interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 194,958 143,022
Hire purchase contracts 505,809 -
Trade creditors 270,646 397,733
Social security and other taxes 80,860 230,292
Other creditors 2,662 3,390
Amounts due to group undertakings 143,409 -
Accruals and deferred income 314,278 207,704
1,512,622 982,141

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,801,234 -
Amounts due to group undertakings 600,000 600,000
4,401,234 600,000

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 1,317,980 -

Amounts owed to group undertakings carry an interest rate of 2% pa compounded annually and repayable by 18th November 2026 with no set repayment dates.

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 194,958 143,022
Hire purchase contracts 4,307,043 -
4,502,001 143,022

The bank borrowings are secured by a fixed and floating charge over the assets of the company.

The hire purchase contracts are secured against the assets to which they relate.

11. LEASING AGREEMENTS

Non-cancellable operating leases:

2023 2022
£ £
Between one and five years 3,891 -


12. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
997 'A' Ordinary shares 100 99,700 99,700
3 'B' Ordinary shares 100 300 300
100,000 100,000

The "B" ordinary shares of £100 each have the following rights: Equal voting rights to the "A" ordinary shares. Equal rights to participate in any return of capital on winding up. No rights to any distribution of profits of the Company.

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Andrew McMinnis ACA FCCA (Senior Statutory Auditor)
for and on behalf of Livesey Spottiswood Ltd

14. PENSION COMMITMENTS

During the year the company made contributions to a defined contribution pension scheme. At 31 December 2023, the amount outstanding was £273 (2022 - £207).

15. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 40,677 4,590,081

16. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, the Company's ultimate parent Company and ultimate controlling party is Nijman Zeetank Holdings B.V., a Company incorporated in the Netherlands. A copy of the group financial statements can be obtained from that Company's registered office, Wattweg 2, 3208 KH Spijkenisse, The Netherlands. Nijman/Zeetank Holding B.V. is the smallest and largest group in which the Company is consolidated.

NIJMAN ZEETANK INTERNATIONAL TRANSPORT
LIMITED (REGISTERED NUMBER: 02568016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


17. PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.