NV Transport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05409034 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2017

for

NV Transport Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A M Zwinkels

M R Zwinkels

S Zwinkels

REGISTERED OFFICE:

Leythorne Nurseries

Vinnetrow Road

Runcton

Chichester

West Sussex

PO20 1QB

REGISTERED NUMBER:

05409034 (England and Wales)

ACCOUNTANTS:

Sigma Partners

Gloucester House

Church Walk

Burgess Hill

West Sussex

RH15 9AS

FIXED ASSETS

Tangible assets

4

761,753

957,101

CURRENT ASSETS

Stocks

73,083

49,705

Debtors

5

1,624,082

1,386,332

Cash at bank and in hand

2,867

29,196

1,700,032

1,465,233

CREDITORS

Amounts falling due within one year

6

3,052,086

2,033,872

NET CURRENT LIABILITIES

(1,352,054

)

(568,639

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(590,301

)

388,462

CREDITORS

Amounts falling due after more than one year

7

219,497

429,956

NET LIABILITIES

(809,798

)

(41,494

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(810,798

)

(42,494

)

SHAREHOLDERS' FUNDS

(809,798

)

(41,494

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18th October 2018 and were signed on its behalf by:

P A M Zwinkels - Director

1.	STATUTORY INFORMATION

NV Transport 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

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

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.

Going concern

Although liabilities exceed assets by £809,798 the accounts have been prepared on a going concern

basis. The directors are undertaking a significant restructuring of the business, including the removal

of the complicated and unprofitable section of the service offered to some customers, the directors

continue to support the business during this restructure by way of extended credit facilities from

associated companies under the control of the directors. The company is also dependent on the

company's bankers continuing to offer invoice finance facilities which at the date of this report is still

the case.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2016 - 51 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2017

1,639,557

Additions

11,885

At 31st December 2017

1,651,442

DEPRECIATION

At 1st January 2017

682,455

Charge for year

207,234

At 31st December 2017

889,689

NET BOOK VALUE

At 31st December 2017

761,753

At 31st December 2016

957,102

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st January 2017

and 31st December 2017

1,222,057

DEPRECIATION

At 1st January 2017

402,321

Charge for year

170,012

At 31st December 2017

572,333

NET BOOK VALUE

At 31st December 2017

649,724

At 31st December 2016

819,736

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,612,727

1,321,778

Other debtors

11,355

64,554

1,624,082

1,386,332

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

769

4,492

Hire purchase contracts

214,224

214,224

Trade creditors

1,326,352

1,008,398

Taxation and social security

149,907

134,636

Other creditors

1,360,834

672,122

3,052,086

2,033,872

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

219,497

429,956

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Invoice finance

1,252,843

865,385

Invoice finance is secured via a charge over the book debts of the company.

9.	RELATED PARTY DISCLOSURES

The following sales and purchases were made to associated companies (via common control)

during the year:

Sales

Purchases

Debtors

Creditors

Loans

Madestein (UK) Ltd

£429,052

£136,074

£-

£408

£-

Fresh Willow Ltd

£3990

£231,961

£-

£223,114

£43,205

Protechnic (Chichester) Ltd

£3112

£437

£-

£-

£-

N V Produce Ltd £- £- £- £2545 £-