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REGISTERED NUMBER: 06465721 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

NEWGISTICS FREIGHT SOLUTIONS LTD

NEWGISTICS FREIGHT SOLUTIONS LTD (REGISTERED NUMBER: 06465721)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWGISTICS FREIGHT SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: J M Newington
Mrs S C Newington





SECRETARY: Mrs S C Newington





REGISTERED OFFICE: Unit 2 Heol Aur
Dafen Industrial Estate
Dafen
Llanelli
CARMARTHENSHIRE
SA14 8QN





REGISTERED NUMBER: 06465721 (England and Wales)





ACCOUNTANTS: DAVID WRIGHT ACCOUNTANTS LIMITED
Unit 10
Bridgend Business Park
Bennett Street
Bridgend
Glamorgan
CF31 3SH

NEWGISTICS FREIGHT SOLUTIONS LTD (REGISTERED NUMBER: 06465721)

BALANCE SHEET
30 JUNE 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 37,500
Tangible assets 5 126,828 163,639
Investments 6 4,000 4,000
160,828 205,139

CURRENT ASSETS
Debtors 7 424,869 364,184
Cash at bank 182 14,892
425,051 379,076
CREDITORS
Amounts falling due within one year 8 214,536 196,823
NET CURRENT ASSETS 210,515 182,253
TOTAL ASSETS LESS CURRENT
LIABILITIES

371,343

387,392

CREDITORS
Amounts falling due after more than one year 9 (97,184 ) (133,526 )

PROVISIONS FOR LIABILITIES (31,707 ) (31,092 )
NET ASSETS 242,452 222,774

CAPITAL AND RESERVES
Called up share capital 105 105
Retained earnings 242,347 222,669
SHAREHOLDERS' FUNDS 242,452 222,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

NEWGISTICS FREIGHT SOLUTIONS LTD (REGISTERED NUMBER: 06465721)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:




J M Newington - Director



Mrs S C Newington - Director


NEWGISTICS FREIGHT SOLUTIONS LTD (REGISTERED NUMBER: 06465721)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Newgistics Freight Solutions Ltd 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 financial statements have been prepared on the going concern basis, which assumes the continuing support of the company's directors, bankers and other creditors. The directors believe this support will continue and are satisfied that the company is a going concern.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover is recognised at the point at which goods are dispatched or when services are carried out.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


NEWGISTICS FREIGHT SOLUTIONS LTD (REGISTERED NUMBER: 06465721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 150,000
AMORTISATION
At 1 July 2023 112,500
Charge for year 7,500
At 30 June 2024 120,000
NET BOOK VALUE
At 30 June 2024 30,000
At 30 June 2023 37,500

NEWGISTICS FREIGHT SOLUTIONS LTD (REGISTERED NUMBER: 06465721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 323,536
DEPRECIATION
At 1 July 2023 159,896
Charge for year 36,812
At 30 June 2024 196,708
NET BOOK VALUE
At 30 June 2024 126,828
At 30 June 2023 163,640

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 241,996
DEPRECIATION
At 1 July 2023 112,939
Charge for year 32,265
At 30 June 2024 145,204
NET BOOK VALUE
At 30 June 2024 96,792
At 30 June 2023 129,057

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30/6/24 30/6/23
£    £   
Debenture Seats 4,000 4,000

NEWGISTICS FREIGHT SOLUTIONS LTD (REGISTERED NUMBER: 06465721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 63,308 108,933
Other debtors 361,561 255,251
424,869 364,184

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans and overdrafts 58,565 30,301
Hire purchase contracts 19,345 22,785
Trade creditors 95,599 115,237
Taxation and social security 32,843 22,666
Other creditors 8,184 5,834
214,536 196,823

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/24 30/6/23
£    £   
Bank loans 11,960 28,957
Hire purchase contracts 85,224 104,569
97,184 133,526

10. SECURED DEBTS

The following secured debts are included within creditors:

30/6/24 30/6/23
£    £   
Bank overdraft 41,453 -
Bank loans 29,072 59,258
70,525 59,258

The bank overdraft represents the amount owed under the invoice discounting facility, which is secured against the company's book debts.

The Directors have provided personal guarantees in respect of the business loans.