NRS Transport Ltd Accounts






NRS Transport Ltd
	Company No. 09270516
		Information for Filing with The Registrar
		31 October 2020

The Director presents his report and the accounts for the year ended 31 October 2020.

Principal activities
The principal activity of the company during the year under review was .




Director

The Director who served at any time during the year was as follows:

N. Smith



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

N. Smith
Director
12 March 2021

at	31 October 2020

Company No.		09270516	Notes	2020	2019
				£	£
Fixed assets

	Tangible assets		3	133,173	98,639


				133,173	98,639
Current assets

	Debtors		4	164,628	115,170

	Cash at bank and in hand			(12,999)	11,671
				151,629	126,841
Creditors: Amount falling due within one year			5	(126,215)	(118,489)
Net current assets				25,414	8,352
Total assets less current liabilities				158,587	106,991
Creditors: Amounts falling due after more than one year			6	(110,918)	(37,214)
Provisions for liabilities
	Deferred taxation		7	(22,191)	(15,861)

Net assets				25,478	53,916

Capital and reserves
	Called up share capital			2	2



	Profit and loss account		8	25,476	53,914

Total equity				25,478	53,916


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 12 March 2021

And signed on its behalf by:

N. Smith
Director
12 March 2021

for the year ended 31 October 2020

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

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

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount 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.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

20/25% Reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2	Employees
			2020	2019
			Number	Number
		The average number of persons employed during the year :	6	5

3	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 November 2019	175,873	175,873
		Additions	93,841	93,841


		Disposals	(52,395)	(52,395)
		At 31 October 2020	217,319	217,319
		Depreciation
		At 1 November 2019	77,234	77,234
		Charge for the year	38,636	38,636


		Disposals	(31,724)	(31,724)
		At 31 October 2020	84,146	84,146
		Net book values
		At 31 October 2020	133,173	133,173
		At 31 October 2019	98,639	98,639

4	Debtors
			2020	2019
			£	£
		Trade debtors	152,708	113,841

		Corporation tax recoverable	623	-



		Other debtors	-	6
		Prepayments and accrued income	11,297	1,323
			164,628	115,170

5	Creditors:
		amounts falling due within one year
			2020	2019
			£	£

		Bank loans and overdrafts	(6)	-

		Obligations under finance lease and hire purchase contracts	35,424	28,991
		Trade creditors	52,224	40,491

		Corporation tax	-	6,200
		Other taxes and social security	34,451	36,762
		Loans from directors	487	12
		Other creditors	3,084	4,182
		Accruals and deferred income	551	1,851
			126,215	118,489

6	Creditors:
		amounts falling due after more than one year
			2020	2019
			£	£

		Bank loans and overdrafts	50,000	-
		Other loans	5,000	-
		Obligations under finance lease and hire purchase contracts	55,918	37,214




			110,918	37,214

7	Provisions for liabilities
		Deferred taxation

			Accelerated capital allowances, losses and other timing differences	Arising from revaluation	Total
			£	£	£
		At 1 November 2019	15,861	-	15,861
		Charge to the profit and loss account for the period	6,330		6,330

		At 31 October 2020	22,191	-	22,191



			2020		2019
			£		£
		Accelerated capital allowances	22,191		15,861



			22,191		15,861

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

9	Dividends
			2020	2019
			£	£
		Dividends for the period:
		Dividends paid in the period	48,000	45,200

			48,000	45,200

		Dividends by type:

		Equity dividends	48,000	45,200
			48,000	45,200

Related party disclosures

Controlling party

Immediate controlling party

Mr N. Smith, Mrs E. Smith

Additional information

Its registered number is:

09270516

Its registered office is:

Prospect House

11 Western Road

Launceston

Cornwall

PL15 7AS