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Neba Freight Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

Registration number: 2573080

 

Neba Freight Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Neba Freight Limited

(Registration number: 2573080)
Statement of financial position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,854

2,661

Current assets

 

Debtors

5

97,783

10,008

Cash at bank and in hand

 

31,351

341,522

 

129,134

351,530

Creditors: Amounts falling due within one year

6

(113,627)

(289,058)

Net current assets

 

15,507

62,472

Net assets

 

17,361

65,133

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

17,261

65,033

Shareholders' funds

 

17,361

65,133

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 16 September 2024
 

.........................................
Mr Steven Quigley
Director

 

Neba Freight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Imperial House
Link 10
Napier Way
Crawley
West Sussex
RH10 9RA

These financial statements were authorised for issue by the director on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Neba Freight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 5).

 

Neba Freight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

26,520

56,241

4,024

86,785

Disposals

(26,520)

(45,043)

(4,024)

(75,587)

At 31 December 2023

-

11,198

-

11,198

Depreciation

At 1 January 2023

26,520

53,580

4,024

84,124

Charge for the year

-

719

-

719

Eliminated on disposal

(26,520)

(44,955)

(4,024)

(75,499)

At 31 December 2023

-

9,344

-

9,344

Carrying amount

At 31 December 2023

-

1,854

-

1,854

At 31 December 2022

-

2,661

-

2,661

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

45,244

4,872

Amounts owed by related parties

49,587

-

Other debtors

 

2,952

5,136

   

97,783

10,008

 

Neba Freight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

47,784

71,041

Taxation and social security

18,493

17,663

Accruals and deferred income

47,000

93,450

Other creditors

350

106,904

113,627

289,058

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100