NCB Haulage Ltd SC760347 false 2023-02-27 2024-03-31 2024-03-31 The principal activity of the company is that of freight transport by road. Digita Accounts Production Advanced 6.30.9574.0 true true SC760347 2023-02-27 2024-03-31 SC760347 2024-03-31 SC760347 bus:OrdinaryShareClass1 2024-03-31 SC760347 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 SC760347 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 SC760347 core:CurrentFinancialInstruments 2024-03-31 SC760347 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC760347 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC760347 core:MotorVehicles 2024-03-31 SC760347 bus:SmallEntities 2023-02-27 2024-03-31 SC760347 bus:AuditExemptWithAccountantsReport 2023-02-27 2024-03-31 SC760347 bus:FilletedAccounts 2023-02-27 2024-03-31 SC760347 bus:SmallCompaniesRegimeForAccounts 2023-02-27 2024-03-31 SC760347 bus:RegisteredOffice 2023-02-27 2024-03-31 SC760347 bus:Director1 2023-02-27 2024-03-31 SC760347 bus:OrdinaryShareClass1 2023-02-27 2024-03-31 SC760347 bus:PrivateLimitedCompanyLtd 2023-02-27 2024-03-31 SC760347 core:MotorVehicles 2023-02-27 2024-03-31 SC760347 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-27 2024-03-31 SC760347 countries:Scotland 2023-02-27 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC760347

NCB Haulage Ltd

Unaudited Filleted Financial Statements

for the Period from 27 February 2023 to 31 March 2024

 

NCB Haulage Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

NCB Haulage Ltd

Company Information

Director

Mr N Bertram

Registered office

 

Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

NCB Haulage Ltd

(Registration number: SC760347)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

34,309

Current assets

 

Debtors

5

158,244

Creditors: Amounts falling due within one year

6

(118,421)

Net current assets

 

39,823

Total assets less current liabilities

 

74,132

Creditors: Amounts falling due after more than one year

6

(10,067)

Provisions for liabilities

(8,577)

Net assets

 

55,488

Capital and reserves

 

Called up share capital

8

100

Retained earnings

55,388

Shareholders' funds

 

55,488

For the financial period ending 31 March 2024 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 period 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

NCB Haulage Ltd

(Registration number: SC760347)
Balance Sheet as at 31 March 2024

Approved and authorised by the director on 12 November 2024
 

.........................................
Mr N Bertram
Director

 

NCB Haulage Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

These financial statements were authorised for issue by the director on 12 November 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration derived from freight transport by road. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

NCB Haulage Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

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:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing balance

 

NCB Haulage Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

NCB Haulage Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period was 3.

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

45,745

45,745

At 31 March 2024

45,745

45,745

Depreciation

Charge for the period

11,436

11,436

At 31 March 2024

11,436

11,436

Carrying amount

At 31 March 2024

34,309

34,309

5

Debtors

2024
£

Trade debtors

158,244

158,244

 

NCB Haulage Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

7

48,800

Trade creditors

 

5,835

Taxation and social security

 

40,499

Accruals and deferred income

 

1,869

Other creditors

 

21,418

 

118,421

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

7

10,067

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Hire purchase contracts

10,067

The finance lease/hire purchase liabilities are secured over the assets concerned.

Current loans and borrowings

2024
£

Bank overdrafts

37,452

Hire purchase contracts

11,348

48,800

 

NCB Haulage Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary Shares of £1 each

100

100

   

9

Related party transactions

The company operates a loan account with the director, Mr N Bertram.
During the year, the director advanced loans totalling £21,418 to the company. At the year end, the balance due to the director was £21,418. This loan is unsecured, interest free and has no fixed repayment terms.