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REGISTERED NUMBER: 08050153 (England and Wales)















NG PROPERTY CONSULTANTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9

Chartered Certified Accountants' Report 10

NG PROPERTY CONSULTANTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: R G Sutton
R Brown
J R McArthur
Mrs J E Weston





REGISTERED OFFICE: 4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF





REGISTERED NUMBER: 08050153 (England and Wales)





ACCOUNTANTS: Essex Abel Ltd
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF

NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 16,222 21,177
16,222 21,177

CURRENT ASSETS
Debtors 6 244,902 276,095
Cash at bank and in hand 119,248 127,417
364,150 403,512
CREDITORS
Amounts falling due within one year 7 201,916 230,570
NET CURRENT ASSETS 162,234 172,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,456

194,119

CREDITORS
Amounts falling due after more than one
year

8

-

(3,333

)

PROVISIONS FOR LIABILITIES (3,525 ) (3,906 )
NET ASSETS 174,931 186,880

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 164,931 176,880
SHAREHOLDERS' FUNDS 174,931 186,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

BALANCE SHEET - continued
31 MAY 2023


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 5 October 2023 and were signed on its behalf by:




R Brown - Director



R G Sutton - Director


NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

NG Property Consultants 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in the accounting policies below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates which could result in a material adjustment to the carrying amounts of assets or liabilities affected in future periods.

Judgements
In preparing these financial statements, the directors have made the judgements detailed in the accounting policies, which have the most significant effect on the amounts recognised in the financial statements.

Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments; however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

Turnover
Revenue comprises the fair value of the consideration received for the provision of services for services provided in the normal course of business, net of discounts and VAT.

Commercial transaction fees Generally, revenue is recognised on the date of completion or when
unconditional transactions have been exchanged.
Property consultancy Revenue in respect of property consultancy represents fees recognised
on a time or fixed fee basis and are is recognised upon delivery or
percentage completion dependent upon the terms of the contract.
Property and facilities management Revenue represents fees earned for managing properties and providing
facilities and is generally recognised in the period the services are
provided using a straight line basis over the term of the contract.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of seven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to/from related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of debtors. The amount of the provision is determined as the difference between the asset's carrying amount and the present value of estimated future cash flows, and is recognised in the profit & loss in operating expenses.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.


NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. 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
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.

Client monies
The management of client monies is part of the company’s commercial management activities.

This money belongs to clients, but the company has administrative control over the monies in order to perform management services. These monies are not recognised on the company balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 57,000
AMORTISATION
At 1 June 2022
and 31 May 2023 57,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 41,689
Additions 4,621
Disposals (749 )
At 31 May 2023 45,561
DEPRECIATION
At 1 June 2022 20,512
Charge for year 9,576
Eliminated on disposal (749 )
At 31 May 2023 29,339
NET BOOK VALUE
At 31 May 2023 16,222
At 31 May 2022 21,177

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 94,155 87,929
Amounts owed by group undertakings 107,336 122,289
Other debtors 43,411 65,877
244,902 276,095

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,333 40,000
Payments on account 2,686 2,991
Trade creditors 6,530 9,237
Taxation and social security 138,115 128,438
Other creditors 51,252 49,904
201,916 230,570

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 3,333

NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,333 43,333

The Coronavirus Business Interruption Loan is secured by government-backed partial guarantee (80%) against the outstanding balance of the finance (both capital and interest).

10. OTHER FINANCIAL COMMITMENTS

The company has lease commitments of £14,250 (2022: £33,250).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
R G Sutton
Balance outstanding at start of year 19,272 37,852
Amounts advanced 65,393 88,802
Amounts repaid (84,665 ) (107,382 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19,272

A Landa
Balance outstanding at start of year - 13,631
Amounts advanced - 68,665
Amounts repaid - (82,296 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

J R McArthur
Balance outstanding at start of year 19 8,078
Amounts advanced 12,389 73,035
Amounts repaid (12,408 ) (81,094 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19

NG PROPERTY CONSULTANTS LTD (REGISTERED NUMBER: 08050153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R Brown
Balance outstanding at start of year 324 6,767
Amounts advanced 10,854 52,282
Amounts repaid (11,178 ) (58,725 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 324

No interest is charged on the balances and the amounts are repayable on demand.

12. ULTIMATE CONTROLLING PARTY

NGCS Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The company is incorporated in England and Wales.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NG PROPERTY CONSULTANTS 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 NG Property Consultants Ltd for the year ended 31 May 2023 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 NG Property Consultants Ltd, as a body, in accordance with the terms of our engagement letter dated 5 July 2013. Our work has been undertaken solely to prepare for your approval the financial statements of NG Property Consultants Ltd and state those matters that we have agreed to state to the Board of Directors of NG Property Consultants 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 NG Property Consultants 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 NG Property Consultants Ltd. You consider that NG Property Consultants 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 NG Property Consultants 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.






Essex Abel Ltd
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF


5 October 2023