Company Registration No. 03172981 (England and Wales)
NWT Horseshoes Limited
Unaudited accounts
for the year ended 31 December 2022
NWT Horseshoes Limited
Unaudited accounts
Contents
NWT Horseshoes Limited
Company Information
for the year ended 31 December 2022
Directors
S H Jones
R D Jones
Company Number
03172981 (England and Wales)
Registered Office
Unit 4, Media Point
Mold Business Park
Mold
Flintshire
CH7 1XY
Accountants
Bayliss Baines Limited
29 Chester Street
Wrexham
LL13 8BG
NWT Horseshoes Limited
Statement of financial position
as at 31 December 2022
Tangible assets
145,663
266,573
Investments
378,098
388,956
Inventories
1,749,860
1,526,631
Cash at bank and in hand
292,800
89,056
Creditors: amounts falling due within one year
(479,470)
(477,710)
Net current assets
1,881,735
1,376,155
Total assets less current liabilities
2,405,496
2,031,684
Creditors: amounts falling due after more than one year
(52,643)
-
Provisions for liabilities
Deferred tax
(27,676)
(16,301)
Net assets
2,325,177
2,015,383
Called up share capital
100
100
Profit and loss account
2,325,077
2,015,283
Shareholders' funds
2,325,177
2,015,383
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
S H Jones
Director
Company Registration No. 03172981
NWT Horseshoes Limited
Notes to the Accounts
for the year ended 31 December 2022
NWT Horseshoes Limited is a private company, limited by shares, registered in England and Wales, registration number 03172981. The registered office is Unit 4, Media Point, Mold Business Park, Mold, Flintshire, CH7 1XY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line basis
Plant & machinery
25% reducing balance basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
25% reducing balance basis
Computer equipment
25% reducing balance basis
Stock has been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
NWT Horseshoes Limited
Notes to the Accounts
for the year ended 31 December 2022
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 January 2022
206,110
121,172
17,000
47,247
123,589
515,118
Additions
-
645
104,963
-
2,815
108,423
Revaluations
(206,110)
-
-
-
-
(206,110)
At 31 December 2022
-
121,817
121,963
47,247
126,404
417,431
At 1 January 2022
25,332
81,362
11,622
35,812
94,417
248,545
Charge for the year
-
10,114
27,585
2,859
7,997
48,555
On disposals
(25,332)
-
-
-
-
(25,332)
At 31 December 2022
-
91,476
39,207
38,671
102,414
271,768
At 31 December 2022
-
30,341
82,756
8,576
23,990
145,663
At 31 December 2021
180,778
39,810
5,378
11,435
29,172
266,573
Carrying values included above held under finance leases and hire purchase contracts:
£
£
5
Investments
Subsidiary undertakings
Valuation at 1 January 2022
388,956
Valuation at 31 December 2022
378,098
Amounts falling due within one year
Trade debtors
69,479
55,174
Amounts due from group undertakings etc.
166,217
2,740
Accrued income and prepayments
23,368
26,510
Other debtors
59,481
153,754
NWT Horseshoes Limited
Notes to the Accounts
for the year ended 31 December 2022
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
-
102,246
Obligations under finance leases and hire purchase contracts
6,617
-
Trade creditors
238,188
60,994
Taxes and social security
221,507
184,413
Other creditors
7,084
128,831
8
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
52,643
-
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan Account
119,932
59,481
119,932
59,481
119,932
59,481
119,932
59,481
During the year loans were made to Mr SH Jones amounting to £59,481 (2021 - £119,932). Interest has been charged on the outstanding balance at the official rate. Since the year end the loan has been repaid in full.
10
Average number of employees
During the year the average number of employees was 11 (2021: 11).