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 2021

for

Neon Freight Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

4,887

3,797

CURRENT ASSETS

Debtors

5

223,618

157,949

Cash at bank

183,499

131,781

407,117

289,730

CREDITORS

Amounts falling due within one year

6

319,477

221,404

NET CURRENT ASSETS

87,640

68,326

TOTAL ASSETS LESS CURRENT LIABILITIES

92,527

72,123

PROVISIONS FOR LIABILITIES

969

727

NET ASSETS

91,558

71,396

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

91,458

71,296

SHAREHOLDERS' FUNDS

91,558

71,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 13 April 2022 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:

Manor Lodge

1-3 Manor Lane

Homes Chapel

Cheshire

CW4 8AB

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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis.

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 8 (2020 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2020

647

6,925

7,572

Additions

-

2,982

2,982

Disposals

-

(1,758

)

(1,758

)

At 31 August 2021

647

8,149

8,796

DEPRECIATION

At 1 September 2020

314

3,461

3,775

Charge for year

129

1,171

1,300

Eliminated on disposal

-

(1,166

)

(1,166

)

At 31 August 2021

443

3,466

3,909

NET BOOK VALUE

At 31 August 2021

204

4,683

4,887

At 31 August 2020

333

3,464

3,797

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade debtors

220,064

153,087

Other debtors

3,554

4,862

223,618

157,949

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade creditors

276,545

170,343

Taxation and social security

19,765

19,782

Other creditors

23,167

31,279

319,477

221,404

7.	OTHER FINANCIAL COMMITMENTS

The financial commitments, which are not included in the balance sheet amount to £0 (2020: £3,281). These financial commitments represent the total amount of payments due for the lease of the building, which ended in 2020.