Registered number
01650832
NORMALGLEN LIMITED
Filleted Accounts
31 December 2021
NORMALGLEN LIMITED
Registered number: 01650832
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 4,429 6,014
Current assets
Stocks 19,451 6,195
Debtors 4 3,571 3,566
Cash at bank and in hand 767,826 156,654
790,848 166,415
Creditors: amounts falling due within one year 5 (544,644) (17,071)
Net current assets 246,204 149,344
Net assets 250,633 155,358
Capital and reserves
Called up share capital 100 100
Profit and loss account 250,533 155,258
Shareholders' funds 250,633 155,358
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M F Whitby
Director
Approved by the board on 14 September 2022
NORMALGLEN LIMITED
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to property over 10 years
Plant and machinery over 5 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2021 73,509 14,695 22,295 110,499
At 31 December 2021 73,509 14,695 22,295 110,499
Depreciation
At 1 January 2021 71,730 13,774 18,981 104,485
Charge for the year 187 569 829 1,585
At 31 December 2021 71,917 14,343 19,810 106,070
Net book value
At 31 December 2021 1,592 352 2,485 4,429
At 31 December 2020 1,779 921 3,314 6,014
4 Debtors 2021 2020
£ £
Trade debtors 218 912
Deferred tax asset - -
Other debtors 3,353 2,654
3,571 3,566
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 530,914 14,722
Other creditors 13,710 2,299
544,644 17,071
6 Other information
NORMALGLEN LIMITED is a private company limited by shares and incorporated in England. Its registered office is 5 Apple Tree Walk, Climping, West Sussex, BN17 5QN.
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