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REGISTERED NUMBER: 08073467 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2022

for

Nottingham Clutch & Timing Belt Centre
Limited

Nottingham Clutch & Timing Belt Centre
Limited (Registered number: 08073467)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Nottingham Clutch & Timing Belt Centre
Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: S J Flavin





SECRETARY:





REGISTERED OFFICE: 33-41 High Road
Beeston
Nottingham
NG9 4AF





REGISTERED NUMBER: 08073467 (England and Wales)





ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB

Nottingham Clutch & Timing Belt Centre
Limited (Registered number: 08073467)

Statement of Financial Position
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,163 20,530

CURRENT ASSETS
Stocks 350 350
Debtors 5 24,983 24,465
Cash at bank and in hand (370 ) 27,152
24,963 51,967
CREDITORS
Amounts falling due within one year 6 15,908 15,982
NET CURRENT ASSETS 9,055 35,985
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,218

56,515

CREDITORS
Amounts falling due after more than one year 7 (23,079 ) (30,662 )

PROVISIONS FOR LIABILITIES (2,993 ) (3,573 )
NET ASSETS 146 22,280

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 144 22,278
SHAREHOLDERS' FUNDS 146 22,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Nottingham Clutch & Timing Belt Centre
Limited (Registered number: 08073467)

Statement of Financial Position - continued
31 March 2022


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





S J Flavin - Director


Nottingham Clutch & Timing Belt Centre
Limited (Registered number: 08073467)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Nottingham Clutch & Timing Belt Centre 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 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Nottingham Clutch & Timing Belt Centre
Limited (Registered number: 08073467)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Loans from directors
Any loans from the directors to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2021
and 31 March 2022 44,162 8,221 6,493 1,199 60,075
DEPRECIATION
At 1 April 2021 29,691 3,830 5,304 720 39,545
Charge for year 2,171 659 297 240 3,367
At 31 March 2022 31,862 4,489 5,601 960 42,912
NET BOOK VALUE
At 31 March 2022 12,300 3,732 892 239 17,163
At 31 March 2021 14,471 4,391 1,189 479 20,530

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 295
Other debtors 134 134
Owed by related company 24,849 24,036
24,983 24,465

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 7,153 5,100
Trade creditors 1,682 2,460
Tax - 59
VAT 4,884 5,719
Other creditors 264 909
Directors' current accounts 1,906 1,594
Accrued expenses 19 141
15,908 15,982

Nottingham Clutch & Timing Belt Centre
Limited (Registered number: 08073467)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 2-5 years 23,079 24,480
Bank loans more 5 yr by instal - 6,182
23,079 30,662

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 6,182

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 30,095 35,762

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary £1 2 2

10. RELATED PARTY DISCLOSURES

During the year payments of £213 (2021 £3,169) were made on behalf of Flavin and McGhee Limited - a company which is wholly owned by Flavin Group Limited - who is the parent company of Nottingham Clutch & Timing Belt Centre Limited.

At the balance sheet date the amount owing to Nottingham Clutch & Timing Belt Centre Limited by Flavin and McGhee Limited was £23,382 (2021 - £23,169). The balance is interest free and repayable on demand.