NWG Services Ltd
Registered number: 09714554
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,743 2,324
Current assets
Debtors 4 1,866 (3,770)
Cash at bank and in hand 21,232 25,394
23,098 21,624
Creditors: amounts falling due within one year 5 (9,627) (5,970)
Net current assets 13,471 15,654
Total assets less current liabilities 15,214 17,978
Creditors: amounts falling due after more than one year 6 (15,173) (17,911)
Net assets 41 67
Capital and reserves
Called up share capital 100 100
Profit and loss account (59) (33)
Shareholder's funds 41 67
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Keith Hodge
Director
Approved by the board on 29 September 2023
NWG Services Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 5,493 8,490 13,983
At 31 August 2023 5,493 8,490 13,983
Depreciation
At 1 September 2022 3,169 8,490 11,659
Charge for the year 581 - 581
At 31 August 2023 3,750 8,490 12,240
Net book value
At 31 August 2023 1,743 - 1,743
At 31 August 2022 2,324 - 2,324
4 Debtors 2023 2022
£ £
Trade debtors 1,866 (3,770)
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 4,775 1,933
Other taxes and social security costs 3,695 4,624
Other creditors 1,157 (587)
9,627 5,970
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,173 17,911
7 Related party transactions
All transactions with the director were conducted under normal market conditions.
8 Controlling party
The ultimate controlling party is Keith Hodge & Stuart Gardiner
9 Other information
NWG Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
42 Brunswick Terrace
Hove
BN3 1HA
Hove
East Sussex
BN3 1HA
NWG Services Ltd 09714554 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts April 2022 Keith Hodge No description of principal activity 09714554 2021-09-01 2022-08-31 09714554 core:WithinOneYear 2022-08-31 09714554 core:AfterOneYear 2022-08-31 09714554 core:ShareCapital 2022-08-31 09714554 core:RetainedEarningsAccumulatedLosses 2022-08-31 09714554 2022-09-01 2023-08-31 09714554 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09714554 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 09714554 bus:Director40 2022-09-01 2023-08-31 09714554 1 2022-09-01 2023-08-31 09714554 2 2022-09-01 2023-08-31 09714554 core:PlantMachinery 2022-09-01 2023-08-31 09714554 core:Vehicles 2022-09-01 2023-08-31 09714554 countries:England 2022-09-01 2023-08-31 09714554 bus:FRS102 2022-09-01 2023-08-31 09714554 bus:FullAccounts 2022-09-01 2023-08-31 09714554 2023-08-31 09714554 core:WithinOneYear 2023-08-31 09714554 core:AfterOneYear 2023-08-31 09714554 core:ShareCapital 2023-08-31 09714554 core:RetainedEarningsAccumulatedLosses 2023-08-31 09714554 core:PlantMachinery 2023-08-31 09714554 core:Vehicles 2023-08-31 09714554 2022-08-31 09714554 core:PlantMachinery 2022-08-31 09714554 core:Vehicles 2022-08-31 iso4217:GBP xbrli:pure