2023-03-012024-02-292024-02-29false07904295NATIONWIDE VEHICLE LOGISTICS 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NATIONWIDE VEHICLE LOGISTICS LIMITED

Registered Number
07904295
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

NATIONWIDE VEHICLE LOGISTICS LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

SMITH, Richard Anthony
SMYTH, John Desmond

Company Secretary

SMITH, Richard Anthony

Registered Address

Polygon House
Mode Wheel Road South
Salford
M50 1DG

Registered Number

07904295 (England and Wales)
NATIONWIDE VEHICLE LOGISTICS LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property3317,040317,040
317,040317,040
Current assets
Debtors400,467398,767
Cash at bank and on hand9,782138
410,249398,905
Creditors amounts falling due within one year4(27,808)(25,024)
Net current assets (liabilities)382,441373,881
Total assets less current liabilities699,481690,921
Creditors amounts falling due after one year(11,453)(19,436)
Net assets688,028671,485
Capital and reserves
Profit and loss account688,028671,485
Shareholders' funds688,028671,485
The financial statements were approved and authorised for issue by the Board of Directors on 17 July 2024, and are signed on its behalf by:
SMITH, Richard Anthony
Director
Registered Company No. 07904295
NATIONWIDE VEHICLE LOGISTICS LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed asset. Investment property relates to residential property. The director has considered the value using market value rent and yields for the location, as a result no gain or loss has been incurred. Therefore, values reflect the open market value of the property as at 28 February 2022. No depreciation is provided in respect of investment property.
2.Average number of employees

20242023
Average number of employees during the year02
3.Investment property

£
Fair value at 01 March 23317,040
At 29 February 24317,040
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables100-
Bank borrowings and overdrafts8,0008,000
Taxation and social security18,05815,374
Accrued liabilities and deferred income1,6501,650
Total27,80825,024
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.