Neon Freight Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08183715 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2019

for

Neon Freight Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

2,988

2,783

CURRENT ASSETS

Debtors

5

189,857

60,228

Cash at bank

25,104

30,698

214,961

90,926

CREDITORS

Amounts falling due within one year

6

163,818

61,250

NET CURRENT ASSETS

51,143

29,676

TOTAL ASSETS LESS CURRENT LIABILITIES

54,131

32,459

PROVISIONS FOR LIABILITIES

501

529

NET ASSETS

53,630

31,930

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

53,530

31,830

SHAREHOLDERS' FUNDS

53,630

31,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2020 and were signed on its behalf by:

Mr I Mallon - Director

1.	STATUTORY INFORMATION

Neon Freight 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:

08183715

Registered office:

2 The Shippon

Sandlow Green Farm

Holmes Chapel Road

Holmes Chapel

Cheshire

CW4 8AS

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

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.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

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

-

20% on cost

Computer equipment

-

20% on reducing balance

Taxation

Taxation for the year 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2018

424

4,498

4,922

Additions

223

624

847

At 31 August 2019

647

5,122

5,769

DEPRECIATION

At 1 September 2018

85

2,054

2,139

Charge for year

100

542

642

At 31 August 2019

185

2,596

2,781

NET BOOK VALUE

At 31 August 2019

462

2,526

2,988

At 31 August 2018

339

2,444

2,783

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

186,035

55,517

Other debtors

3,822

4,711

189,857

60,228

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

71,825

34,726

Taxation and social security

15,603

9,040

Other creditors

76,390

17,484

163,818

61,250

7.	OTHER FINANCIAL COMMITMENTS

The financial commitments, which are not included in the balance sheet amount to £9,842 (2018: £16,403).

These financial commitments represent the total amount of payments due for the lease of the building ending

in 2020.