IRIS Accounts Production v22.2.0.402 04584646 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure045846462020-12-31045846462021-12-31045846462021-01-012021-12-31045846462019-12-31045846462020-01-012020-12-31045846462020-12-3104584646ns16:EnglandWales2021-01-012021-12-3104584646ns15:PoundSterling2021-01-012021-12-3104584646ns11:Director12021-01-012021-12-3104584646ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3104584646ns11:SmallEntities2021-01-012021-12-3104584646ns11:AuditExemptWithAccountantsReport2021-01-012021-12-3104584646ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3104584646ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3104584646ns11:FullAccounts2021-01-012021-12-3104584646ns11:Director22021-01-012021-12-3104584646ns11:CompanySecretary12021-01-012021-12-3104584646ns11:RegisteredOffice2021-01-012021-12-3104584646ns6:CurrentFinancialInstruments2021-12-3104584646ns6:CurrentFinancialInstruments2020-12-3104584646ns6:Non-currentFinancialInstruments2021-12-3104584646ns6:Non-currentFinancialInstruments2020-12-3104584646ns6:ShareCapital2021-12-3104584646ns6:ShareCapital2020-12-3104584646ns6:RetainedEarningsAccumulatedLosses2021-12-3104584646ns6:RetainedEarningsAccumulatedLosses2020-12-3104584646ns6:PlantMachinery2021-01-012021-12-3104584646ns6:PlantMachinery2020-12-3104584646ns6:PlantMachinery2021-12-3104584646ns6:PlantMachinery2020-12-3104584646ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-01-012021-12-3104584646ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-12-3104584646ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3104584646ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3104584646ns11:Director112020-12-3104584646ns11:Director112019-12-3104584646ns11:Director112021-01-012021-12-3104584646ns11:Director112020-01-012020-12-3104584646ns11:Director112021-12-3104584646ns11:Director112020-12-31
REGISTERED NUMBER: 04584646 (England and Wales)














Unaudited Financial Statements

For The Year Ended 31st December 2021

for

N P S Drylining Ltd

N P S Drylining Ltd (Registered number: 04584646)






Contents of the Financial Statements
For The Year Ended 31st December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

N P S Drylining Ltd

Company Information
For The Year Ended 31st December 2021







DIRECTORS: N P Simonds
Mrs J K Simonds





SECRETARY: Mrs J K Simonds





REGISTERED OFFICE: 11 Abbots View
Buckshaft Road
Cinderford
Gloucestershire
GL14 3EG





REGISTERED NUMBER: 04584646 (England and Wales)





ACCOUNTANTS: Wildin and Co
Accountants
& Statutory Auditors
Kings Buildings
Lydney
Gloucestershire
GL15 5HE

N P S Drylining Ltd (Registered number: 04584646)

Balance Sheet
31st December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 51,844 18,370

CURRENT ASSETS
Stocks 221,426 152,606
Debtors 6 580,396 381,392
Cash at bank 482,214 662,260
1,284,036 1,196,258
CREDITORS
Amounts falling due within one year 7 416,149 82,060
NET CURRENT ASSETS 867,887 1,114,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

919,731

1,132,568

CREDITORS
Amounts falling due after more than one
year

8

(72,927

)

(50,000

)

PROVISIONS FOR LIABILITIES (2,639 ) (3,491 )
NET ASSETS 844,165 1,079,077

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 844,065 1,078,977
SHAREHOLDERS' FUNDS 844,165 1,079,077

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

N P S Drylining Ltd (Registered number: 04584646)

Balance Sheet - continued
31st December 2021


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 and authorised for issue by the Board of Directors and authorised for issue on 6th September 2022 and were signed on its behalf by:





N P Simonds - Director


N P S Drylining Ltd (Registered number: 04584646)

Notes to the Financial Statements
For The Year Ended 31st December 2021

1. STATUTORY INFORMATION

N P S Drylining Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 etc - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance

Government grants
The company was in receipt of the following grants in the year:

Coronavirus Job Retention Scheme to the value of NIL (2020 - £5,746.72)
Business Grants to the value of Nil (2020 - £10,000.00)
Business Loan grants to the value of £558.22 (2020 -£691.78 )

The full grant income has been recorded in the financial statements under Government Income as required by the reporting framework FRS102, on an accrual basis.

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.


N P S Drylining Ltd (Registered number: 04584646)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2021

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2021 55,930
Additions 42,690
At 31st December 2021 98,620
DEPRECIATION
At 1st January 2021 37,560
Charge for year 9,216
At 31st December 2021 46,776
NET BOOK VALUE
At 31st December 2021 51,844
At 31st December 2020 18,370

N P S Drylining Ltd (Registered number: 04584646)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2021

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
Additions 42,690
At 31st December 2021 42,690
DEPRECIATION
Charge for year 4,737
At 31st December 2021 4,737
NET BOOK VALUE
At 31st December 2021 37,953

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 210,895 214,839
Amounts owed by group undertakings 205,000 -
Other debtors 164,501 166,553
580,396 381,392

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 73,073 44,564
Amounts owed to group undertakings 295,000 -
Taxation and social security 32,776 25,228
Other creditors 15,300 12,268
416,149 82,060

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans 45,000 50,000
Finance leases 27,927 -
72,927 50,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 45,000 50,000

N P S Drylining Ltd (Registered number: 04584646)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2021

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2021 and 31st December 2020:

31.12.21 31.12.20
£    £   
N P Simonds
Balance outstanding at start of year 93,299 116,857
Amounts repaid (6,080 ) (23,558 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87,219 93,299

During the period a director, Mr N Simonds repaid capital on an interest free loan of £6080 (2020 - £23,558). The amount outstanding at the year-end was £87,219 (2020 £93,299 ). The loan is treated as a current creditor being repayable on demand.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
N P S Drylining Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of N P S Drylining Ltd for the year ended 31st December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of N P S Drylining Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of N P S Drylining Ltd and state those matters that we have agreed to state to the Board of Directors of N P S Drylining Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that N P S Drylining Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of N P S Drylining Ltd. You consider that N P S Drylining Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of N P S Drylining Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wildin and Co
Accountants
& Statutory Auditors
Kings Buildings
Lydney
Gloucestershire
GL15 5HE


6th September 2022