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REGISTERED NUMBER: 09307117 (England and Wales)










N F GLOBAL LOGISTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2024






N F GLOBAL LOGISTICS LIMITED (REGISTERED NUMBER: 09307117)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


N F GLOBAL LOGISTICS LIMITED (REGISTERED NUMBER: 09307117)

BALANCE SHEET
30TH NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,746 45,441

CURRENT ASSETS
Debtors 5 693,803 455,503
Cash at bank and in hand 787,111 746,047
1,480,914 1,201,550
CREDITORS
Amounts falling due within one year 6 683,796 536,371
NET CURRENT ASSETS 797,118 665,179
TOTAL ASSETS LESS CURRENT LIABILITIES 931,864 710,620

CREDITORS
Amounts falling due after more than one year 7 (60,508 ) -

PROVISIONS FOR LIABILITIES (33,727 ) (11,360 )
NET ASSETS 837,629 699,260

CAPITAL AND RESERVES
Called up share capital 10 97 97
Capital redemption reserve 23 23
Retained earnings 837,509 699,140
SHAREHOLDERS' FUNDS 837,629 699,260

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

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

N F GLOBAL LOGISTICS LIMITED (REGISTERED NUMBER: 09307117)

BALANCE SHEET - continued
30TH NOVEMBER 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 18th March 2025 and were signed on its behalf by:





H Nickerson - Director


N F GLOBAL LOGISTICS LIMITED (REGISTERED NUMBER: 09307117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024


1. STATUTORY INFORMATION

N F Global Logistics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09307117

Registered office: Unit 7 Hawthorn Court
Howley Park Road
Morley
Leeds
LS27 0FD

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 are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be estimated reliably, turnover from logistic and transport services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to delivery of goods.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided for at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings-25% reducing balance
Office refurbishment-20% reducing balance
Computer equipment-33% straight line
Motor vehicles-25% 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.


N F GLOBAL LOGISTICS LIMITED (REGISTERED NUMBER: 09307117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 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.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

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

Rentals payable and receivable under operating leases are charged to the profit and loss account 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.

Financial instruments
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

N F GLOBAL LOGISTICS LIMITED (REGISTERED NUMBER: 09307117)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2023 66,879
Additions 113,705
Disposals (3,483 )
At 30th November 2024 177,101
DEPRECIATION
At 1st December 2023 21,438
Charge for year 24,216
Eliminated on disposal (3,299 )
At 30th November 2024 42,355
NET BOOK VALUE
At 30th November 2024 134,746
At 30th November 2023 45,441

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 526,790 434,420
Amounts owed by group undertakings 142,195 10,179
Other debtors 24,818 10,904
693,803 455,503

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 13,420 -
Trade creditors 451,929 356,049
Amounts owed to group undertakings 100 -
Taxation and social security 193,881 155,096
Other creditors 24,466 25,226
683,796 536,371

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 60,508 -

N F GLOBAL LOGISTICS LIMITED (REGISTERED NUMBER: 09307117)

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


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 13,420 -
Between one and five years 60,508 -
73,928 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 7,577 7,577
Between one and five years 3,157 10,734
10,734 18,311

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 73,928 -

Included in Tangible fixed assets is an amount of £79,017 (2023: £Nil) which relates to a motor vehicle purchased under a hire purchase agreement.

Hire purchase balances are secured on the assets to which they relate to.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
77 Ordinary 1 77 77
10 Ordinary A 1 10 10
10 Ordinary B 1 10 10
97 97