NEW WAY TRANSPORT LTD

Company Registration Number:
11130603 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

NEW WAY TRANSPORT LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 12

NEW WAY TRANSPORT LTD

Company Information

for the Period Ended 31 January 2024




Director: Mihai Portase
Registered office: The Hub Business Centre
Hubbard Way
2 Civic Drive
Ipswich
Suffolk
England
IP1 2QA
Company Registration Number: 11130603 (England and Wales)

NEW WAY TRANSPORT LTD

Directors' Report Period Ended 31 January 2024

The directors present their report with the financial statements of the company for the period ended 31 January 2024

Principal Activities

Freight transport by road

Directors

The directors shown below have held office during the whole of the period from 01 February 2023 to 31 January 2024
Mihai Portase

This report was approved by the board of directors on 30 October 2024
And Signed On Behalf Of The Board By:

Name: Mihai Portase
Status: Director

NEW WAY TRANSPORT LTD

Profit and Loss Account

for the Period Ended 31 January 2024


Notes

2024
£

2023
£
Turnover 391,440 244,805
Cost of sales ( 146,174 ) ( 245,528 )
Gross Profit or (Loss) 245,266 ( 723 )
Administrative Expenses ( 243,139 ) -
Other operating income 3,732 -
Operating Profit or (Loss) 5,859 ( 723 )
Profit or (Loss) Before Tax 5,859 ( 723 )
Tax on Profit ( 1,113 ) ( 0 )
Profit or (Loss) for Period 4,746 ( 723 )

The notes form part of these financial statements

NEW WAY TRANSPORT LTD

Balance sheet

As at 31 January 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 5 197,904 168,669
Total fixed assets: 197,904 168,669
Current assets
Debtors: 6 9,995
Cash at bank and in hand: 79,752 65,282
Total current assets: 89,747 65,282
Prepayments and accrued income: 529
Creditors: amounts falling due within one year: 7 ( 125,413 ) ( 29,063 )
Net current assets (liabilities): ( 35,666 ) 36,748
Total assets less current liabilities: 162,238 205,417
Creditors: amounts falling due after more than one year: 8 ( 156,379 ) ( 198,915 )
Provision for liabilities: ( 5,385 )
Accruals and deferred income: ( 1,840 )
Total net assets (liabilities): 5,859 ( 723 )

The notes form part of these financial statements

NEW WAY TRANSPORT LTD

Balance sheet continued

As at 31 January 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 5,858 ( 724 )
Shareholders funds: 5,859 ( 723 )

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 October 2024
And Signed On Behalf Of The Board By:

Name: Mihai Portase
Status: Director

The notes form part of these financial statements

NEW WAY TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes.The fair value of consideration takes into account trade discounts ,settlement discounts and volume rebates.

    Tangible fixed assets depreciation policy

    Tangible assets are initially measured at cost and subsequently measured at cost or valuation ,net of depreciation and any impairment losses.
    Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
    Plant and equipment 20% straight line
    Motor vehicles 25% reducing balance

NEW WAY TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 3 2

NEW WAY TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 3. Off balance sheet disclosure

    No

NEW WAY TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Dividends


2024
£

2023
£
Dividends paid 1,000 0

NEW WAY TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Tangible assets

Motor vehicles Total
Cost £ £
At 01 February 2023 168,669 168,669
Additions 49,995 49,995
Disposals - -
Revaluations - -
Transfers - -
At 31 January 2024 218,664 218,664
Depreciation
At 01 February 2023 - -
Charge for year 20,760 20,760
On disposals - -
Other adjustments - -
At 31 January 2024 20,760 20,760
Net book value
At 31 January 2024 197,904 197,904
At 31 January 2023 168,669 168,669

NEW WAY TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Debtors


2024
£

2023
£
Trade debtors 9,995
Total 9,995

NEW WAY TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

7.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 1,050
Amounts due under finance leases and hire purchase contracts 54,452 29,063
Trade creditors 9,995
Taxation and social security 37,802
Other creditors 22,114
Total 125,413 29,063

NEW WAY TRANSPORT LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

8.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 25,184 35,200
Amounts due under finance leases and hire purchase contracts 131,195 145,000
Other creditors 18,715
Total 156,379 198,915