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COMPANY REGISTRATION NUMBER: 04498410
SUREWAY EXPRESS TRANSPORT LIMITED
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
SUREWAY EXPRESS TRANSPORT LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
£
Current assets
Debtors
1,000
2,600,996
-------
------------
Net current assets
1,000
2,600,996
-------
------------
Total assets less current liabilities
1,000
2,600,996
-------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
–
2,599,996
-------
------------
Shareholders funds
1,000
2,600,996
-------
------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
The company did not trade during the year and has not made either a profit or loss.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 16 May 2025 , and are signed on behalf of the board by:
M Thorpe
Director
Company registration number: 04498410
SUREWAY EXPRESS TRANSPORT LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 12 The I.O. Centre, Cabot Park Moorend Farm Avenue, Avonmouth, Bristol, BS11 0QL.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The entity is dormant as defined by section 1169 of the Companies Act 2006. The entity received no income and incurred no expenditure during the current year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Turnover includes revenue earned from the provision of freight haulage services and is recognised by reference to the date of shipment.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
1-5% straight line
Motor vehicles
-
25% reducing balance
Office furniture and equipment
-
15% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 42 ).
5. Related party transactions
The directors have taken advantage of the exemption in FRS 102 from disclosing related party transactions with its parent company on the grounds that the company is a subsidiary undertaking where 100% of the voting rights are controlled within the group, and the consolidated financial statements in which the subsidiary undertaking is included are publicly available.
6. Controlling party
The company is under the control of Ntex Limited , a company registered in England and Wales, number 01375292 From this date, Ntex Limited is the immediate parent company. Ntex Limited is a company under the control of Xecotrans Limited a company registered in England and Wales, number 05509195. The consolidated financial statements of Xecotrans Limited are available from Xecotrans Limited, Scandinavian Way, Stallingborough, Grimsby, North East Lincolnshire, DN41 8DU . Xecotrans Limited is a wholly owned subsidiary of Ntex AB a business incorporated in Sweden. Ntex AB is under the control of Stena Logistics Holding AB who are considered to be the ultimate controlling party. The consolidated financial statements of Ntex AB are available from Ntex AB, Karrlyckegatan 11, PO Box 8702, SE-402 75 Goteborg, Sweden.