Neptune Shipping (Northern) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02574253 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

NEPTUNE SHIPPING (NORTHERN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A McDermott

P McDermott

K V Cole FCCA

SECRETARY:

K V Cole FCCA

REGISTERED OFFICE:

Mariners House

Queens Dock Comm Ctr

67 Norfolk Street

Liverpool

L1 0BG

REGISTERED NUMBER:

02574253 (England and Wales)

ACCOUNTANTS:

Barnard Mountstephens Childs Limited

Chartered Certified Accountants

Victoria House

50 Alexandra Street

Southend-on-Sea

Essex

SS1 1BN

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

38,195

22,909

38,195

22,909

CURRENT ASSETS

Debtors

6

241,347

189,607

Cash at bank

155,055

414,315

396,402

603,922

CREDITORS

Amounts falling due within one year

7

18,757

159,134

NET CURRENT ASSETS

377,645

444,788

TOTAL ASSETS LESS CURRENT
LIABILITIES

415,840

467,697

CREDITORS

Amounts falling due after more than one
year

8

10,629

1,567

NET ASSETS

405,211

466,130

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

405,111

466,030

SHAREHOLDERS' FUNDS

405,211

466,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2025 and were signed on its behalf by:

K V Cole FCCA - Director

1.	STATUTORY INFORMATION

Neptune Shipping (Northern) Limited 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1991, has been written off over its useful life of five 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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Taxation

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

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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

17,352

AMORTISATION

At 1 March 2024

and 28 February 2025

17,352

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 March 2024

2,070

47,919

7,626

57,615

Additions

-

48,570

-

48,570

Disposals

-

(47,919

)

-

(47,919

)

At 28 February 2025

2,070

48,570

7,626

58,266

DEPRECIATION

At 1 March 2024

2,070

27,327

5,309

34,706

Charge for year

-

12,143

549

12,692

Eliminated on disposal

-

(27,327

)

-

(27,327

)

At 28 February 2025

2,070

12,143

5,858

20,071

NET BOOK VALUE

At 28 February 2025

-

36,427

1,768

38,195

At 29 February 2024

-

20,592

2,317

22,909

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/25

29/2/24

£

Trade debtors

236,289

182,200

VAT

4,458

6,807

Prepayments

600

241,347

189,607

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/25

29/2/24

£

Hire purchase contracts

6,120

5,672

Trade creditors

2,967

135,604

Corporation tax

-

7,770

Social security and other taxes

2,508

2,794

Directors' loan accounts

1

103

Accrued expenses

7,161

7,191

18,757

159,134

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28/2/25

29/2/24

£

Hire purchase contracts

10,629

1,567