IRIS Accounts Production v23.1.5.20 08598316 Board of Directors 1.1.22 31.12.22 31.12.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure085983162021-12-31085983162022-12-31085983162022-01-012022-12-31085983162020-12-31085983162021-01-012021-12-31085983162021-12-3108598316ns16:EnglandWales2022-01-012022-12-3108598316ns15:PoundSterling2022-01-012022-12-3108598316ns11:Director12022-01-012022-12-3108598316ns11:PrivateLimitedCompanyLtd2022-01-012022-12-3108598316ns11:SmallEntities2022-01-012022-12-3108598316ns11:AuditExemptWithAccountantsReport2022-01-012022-12-3108598316ns11:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3108598316ns11:SmallCompaniesRegimeForAccounts2022-01-012022-12-3108598316ns11:FullAccounts2022-01-012022-12-3108598316ns11:Director22022-01-012022-12-3108598316ns11:RegisteredOffice2022-01-012022-12-3108598316ns6:CurrentFinancialInstruments2022-12-3108598316ns6:CurrentFinancialInstruments2021-12-3108598316ns6:Non-currentFinancialInstruments2022-12-3108598316ns6:Non-currentFinancialInstruments2021-12-3108598316ns6:ShareCapital2022-12-3108598316ns6:ShareCapital2021-12-3108598316ns6:RetainedEarningsAccumulatedLosses2022-12-3108598316ns6:RetainedEarningsAccumulatedLosses2021-12-3108598316ns6:PlantMachinery2022-01-012022-12-3108598316ns6:FurnitureFittings2022-01-012022-12-3108598316ns6:ComputerEquipment2022-01-012022-12-3108598316ns6:PlantMachinery2021-12-3108598316ns6:FurnitureFittings2021-12-3108598316ns6:ComputerEquipment2021-12-3108598316ns6:PlantMachinery2022-12-3108598316ns6:FurnitureFittings2022-12-3108598316ns6:ComputerEquipment2022-12-3108598316ns6:PlantMachinery2021-12-3108598316ns6:FurnitureFittings2021-12-3108598316ns6:ComputerEquipment2021-12-3108598316ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3108598316ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3108598316ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-12-3108598316ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-12-3108598316ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-12-31
REGISTERED NUMBER: 08598316 (England and Wales)
















Financial Statements for the Year Ended 31 December 2022

for

Ngenco Limited

Ngenco Limited (Registered number: 08598316)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Ngenco Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr T Bishop
Mr C Bishop





REGISTERED OFFICE: 32 The Tything
Worcester
Worcestershire
WR1 1JL





REGISTERED NUMBER: 08598316 (England and Wales)





ACCOUNTANTS: Chandler and Partners Limited T/A
Matthew Squire & Company
5 Moor Street
Worcester
Worcestershire
WR1 3DB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ngenco Limited

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 Ngenco Limited for the year ended 31 December 2022 which comprise the Statement of Income and Retained Earnings, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ngenco Limited, 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 Ngenco Limited and state those matters that we have agreed to state to the Board of Directors of Ngenco Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ngenco Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ngenco Limited 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 Ngenco Limited. You consider that Ngenco Limited 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 Ngenco Limited. 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.






Chandler and Partners Limited T/A
Matthew Squire & Company
5 Moor Street
Worcester
Worcestershire
WR1 3DB


Date: .............................................

Ngenco Limited (Registered number: 08598316)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 12,632 9,240

CURRENT ASSETS
Inventories 96,471 107,152
Debtors 6 34,484 99,714
Cash at bank 73,587 118,360
204,542 325,226
CREDITORS
Amounts falling due within one year 7 125,141 255,568
NET CURRENT ASSETS 79,401 69,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,033

78,898

CREDITORS
Amounts falling due after more than one
year

8

(29,174

)

(45,837

)

PROVISIONS FOR LIABILITIES (2,400 ) (1,756 )
NET ASSETS 60,459 31,305

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 60,359 31,205
SHAREHOLDERS' FUNDS 60,459 31,305

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Ngenco Limited (Registered number: 08598316)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





Mr T Bishop - Director


Ngenco Limited (Registered number: 08598316)

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

1. STATUTORY INFORMATION

Ngenco 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. 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
Revenue 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Inventories 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 Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Ngenco Limited (Registered number: 08598316)

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

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2022 17,661 2,228 20,572 40,461
Additions 3,351 707 3,335 7,393
At 31 December 2022 21,012 2,935 23,907 47,854
DEPRECIATION
At 1 January 2022 14,128 1,886 15,207 31,221
Charge for year 1,109 125 2,767 4,001
At 31 December 2022 15,237 2,011 17,974 35,222
NET BOOK VALUE
At 31 December 2022 5,775 924 5,933 12,632
At 31 December 2021 3,533 342 5,365 9,240

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 7,539 64,640
Other debtors 300 300
Ngenco Group Limited 21,875 20,480
Loans to others - 290
VAT 3,381 14,004
Prepayments and accrued income 1,389 -
34,484 99,714

Ngenco Limited (Registered number: 08598316)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts (see note 9) 9,999 10,001
Other loans (see note 9) 7,702 12,209
Trade creditors 93,924 209,145
Tax (8,541 ) -
Social security and other taxes 17,262 19,246
Directors' current accounts 110 282
Accrued expenses 4,685 4,685
125,141 255,568

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans (see note 9) 29,174 39,170
Other loans (see note 9) - 6,667
29,174 45,837

9. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,999 10,001
Other loans 7,702 12,209
17,701 22,210

Amounts falling due between one and two years:
Other loans - 1-2 years - 6,667

Amounts falling due between two and five years:
Bank loans - 2-5 years 29,174 39,170