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REGISTERED NUMBER: 02574253 (England and Wales)




Unaudited Financial Statements

for the Year Ended 29 February 2024

for

NEPTUNE SHIPPING (NORTHERN) LIMITED

NEPTUNE SHIPPING (NORTHERN) LIMITED (REGISTERED NUMBER: 02574253)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEPTUNE SHIPPING (NORTHERN) LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTORS: A McDermott
P McDermott
K V Cole FCCA





SECRETARY: K V Cole FCCA





REGISTERED OFFICE: Mariners House
Queens Dock Comm Ctr
67 Norfolk Street
Liverpool
L1 0BG





REGISTERED NUMBER: 02574253 (England and Wales)





ACCOUNTANTS: Barnard Mountstephens Childs Limited
Chartered Certified Accountants
Victoria House
50 Alexandra Street
Southend-on-Sea
Essex
SS1 1BN

NEPTUNE SHIPPING (NORTHERN) LIMITED (REGISTERED NUMBER: 02574253)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 22,909 34,105
22,909 34,105

CURRENT ASSETS
Debtors 6 189,607 305,395
Cash at bank 414,315 294,546
603,922 599,941
CREDITORS
Amounts falling due within one year 7 159,134 182,631
NET CURRENT ASSETS 444,788 417,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

467,697

451,415

CREDITORS
Amounts falling due after more than one
year

8

1,567

3,922
NET ASSETS 466,130 447,493

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 466,030 447,393
SHAREHOLDERS' FUNDS 466,130 447,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

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.

NEPTUNE SHIPPING (NORTHERN) LIMITED (REGISTERED NUMBER: 02574253)

Balance Sheet - continued
29 February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





K V Cole FCCA - Director


NEPTUNE SHIPPING (NORTHERN) LIMITED (REGISTERED NUMBER: 02574253)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Neptune Shipping (Northern) 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.


Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1991, has been written off over its useful life of five years.


Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

NEPTUNE SHIPPING (NORTHERN) LIMITED (REGISTERED NUMBER: 02574253)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 17,352
AMORTISATION
At 1 March 2023
and 29 February 2024 17,352
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 2,070 47,919 6,294 56,283
Additions - - 1,332 1,332
At 29 February 2024 2,070 47,919 7,626 57,615
DEPRECIATION
At 1 March 2023 2,070 15,347 4,761 22,178
Charge for year - 11,980 548 12,528
At 29 February 2024 2,070 27,327 5,309 34,706
NET BOOK VALUE
At 29 February 2024 - 20,592 2,317 22,909
At 28 February 2023 - 32,572 1,533 34,105

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 182,200 294,292
VAT 6,807 10,503
Prepayments 600 600
189,607 305,395

NEPTUNE SHIPPING (NORTHERN) LIMITED (REGISTERED NUMBER: 02574253)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Hire purchase contracts 5,672 8,746
Trade creditors 135,604 148,069
Corporation tax 7,770 12,404
Social security and other taxes 2,794 6,140
Directors' loan accounts 103 103
Accrued expenses 7,191 7,169
159,134 182,631

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Hire purchase contracts 1,567 3,922