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Registered Number: 03703309
England and Wales

 

 

 

NORTON MASONRY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 54,505    5,326 
54,505    5,326 
Current assets      
Stocks 5 800    800 
Debtors: amounts falling due within one year 6 37,468    39,398 
Investments 7 114,561    114,561 
Cash at bank and in hand 290,637    219,108 
443,466    373,867 
Creditors: amount falling due within one year 8 (168,027)   (158,939)
Net current assets 275,439    214,928 
 
Total assets less current liabilities 329,944    220,254 
Creditors: amount falling due after more than one year 9 (32,892)   (3,183)
Provisions for liabilities 10 (13,313)   (3,969)
Net assets 283,739    213,102 
 

Capital and reserves
     
Called up share capital 11 2    2 
Reserves 12 12,604    12,604 
Capital Redemption Reserve 13 2    2 
Profit and loss account 271,131    200,494 
Shareholder's funds 283,739    213,102 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 29 August 2023 and were signed by:


-------------------------------
Mr D T Mounty
Director
1
General Information
Norton Masonry Limited is a private company, limited by shares, registered in England and Wales, registration number 03703309, registration address Sunnyridge, 14 Orchard Close, Westfield, Radstock, BA3 3RF. The trading address of the company is 8 Pickford Fields, Chilcompton, Radstock, Somerset, BA3 4XU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Computer Equipment 15% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are carried at fair value and the changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 5 (2022 : 5).
3.

Financial Commitments, Guarantees and Contingencies

At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £49,755 (2022 - £37,890).

4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 March 2022 10,950    832    11,782 
Additions 67,253      67,253 
Disposals    
At 28 February 2023 78,203    832    79,035 
Depreciation
At 01 March 2022 6,331    125    6,456 
Charge for year 17,968    106    18,074 
On disposals    
At 28 February 2023 24,299    231    24,530 
Net book values
Closing balance as at 28 February 2023 53,904    601    54,505 
Opening balance as at 01 March 2022 4,619    707    5,326 


5.

Stocks

2023
£
  2022
£
Stocks 800    800 
800    800 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 37,468    39,398 
37,468    39,398 

7.

Investments

2023
£
  2022
£
Other Investments - Listed - Cost b/fwd 114,561    114,561 
114,561    114,561 

8.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 92,499    102,158 
Corporation Tax 26,845    19,079 
PAYE & Social Security 2,813    4,302 
Accrued Expenses 15,036    2,544 
Obligations under HP/Financial Leases 4,111    877 
Director: Mr D T Mounty 3,000    11,000 
VAT 23,723    18,979 
168,027    158,939 

9.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations Under HP/Financial Leases 32,892    3,183 
32,892    3,183 

10.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 13,313    3,969 
13,313    3,969 

11.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
15 Class A shares of £0.10 each  
5 Class B shares of £0.10 each  
 

12.

Reserves

2023
£
  2022
£
Revaluation Reserve b/fwd 12,604    11,329 
Revaluation of Fixed Assets   1,275 
12,604    12,604 

13.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd  
 

2