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REGISTERED NUMBER: 07138888 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 30 April 2023

for

NEDCO CONTRACTS (N.E) LIMITED

NEDCO CONTRACTS (N.E) LIMITED (REGISTERED NUMBER: 07138888)






Contents of the Financial Statements
for the year ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEDCO CONTRACTS (N.E) LIMITED

Company Information
for the year ended 30 April 2023







DIRECTOR: B White





SECRETARY: Mrs L White





REGISTERED OFFICE: Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX





REGISTERED NUMBER: 07138888 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

NEDCO CONTRACTS (N.E) LIMITED (REGISTERED NUMBER: 07138888)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 190,704 218,152

CURRENT ASSETS
Stocks 150,000 144,500
Debtors 5 74,591 155,959
224,591 300,459
CREDITORS
Amounts falling due within one year 6 347,760 411,128
NET CURRENT LIABILITIES (123,169 ) (110,669 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,535

107,483

CREDITORS
Amounts falling due after more than one
year

7

(22,458

)

(36,197

)

PROVISIONS FOR LIABILITIES (25,546 ) (30,149 )
NET ASSETS 19,531 41,137

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 74,586 78,528
Retained earnings (55,155 ) (37,491 )
SHAREHOLDERS' FUNDS 19,531 41,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NEDCO CONTRACTS (N.E) LIMITED (REGISTERED NUMBER: 07138888)

Balance Sheet - continued
30 April 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 by the director and authorised for issue on 26 September 2023 and were signed by:





B White - Director


NEDCO CONTRACTS (N.E) LIMITED (REGISTERED NUMBER: 07138888)

Notes to the Financial Statements
for the year ended 30 April 2023

1. STATUTORY INFORMATION

Nedco Contracts (N.E) 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% on cost
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

NEDCO CONTRACTS (N.E) LIMITED (REGISTERED NUMBER: 07138888)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Government grants
Grants related to expenditure on tangible assets are credited to the profit and loss account over a period approximating to the lives of the qualifying assets. The grants shown in the balance sheet as deferred income consists of the total grants receivable to date less the amounts so far credited to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2022 200,000 366,342 72,750 10,697 649,789
Additions - - - 1,655 1,655
At 30 April 2023 200,000 366,342 72,750 12,352 651,444
DEPRECIATION
At 1 May 2022 44,055 321,835 56,155 9,592 431,637
Charge for year 8,000 12,492 7,600 1,011 29,103
At 30 April 2023 52,055 334,327 63,755 10,603 460,740
NET BOOK VALUE
At 30 April 2023 147,945 32,015 8,995 1,749 190,704
At 30 April 2022 155,945 44,507 16,595 1,105 218,152

Cost or valuation at 30 April 2023 is represented by:

Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
Valuation in 2018 121,686 - - - 121,686
Cost 78,314 366,342 72,750 12,352 529,758
200,000 366,342 72,750 12,352 651,444

NEDCO CONTRACTS (N.E) LIMITED (REGISTERED NUMBER: 07138888)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

4. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 78,314 78,314
Aggregate depreciation 13,052 13,052

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 May 2022 171,000
Transfer to ownership (145,000 )
At 30 April 2023 26,000
DEPRECIATION
At 1 May 2022 133,474
Charge for year 5,200
Transfer to ownership (122,207 )
At 30 April 2023 16,467
NET BOOK VALUE
At 30 April 2023 9,533
At 30 April 2022 37,526

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 49,745 115,111
Other debtors 24,846 40,848
74,591 155,959

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 159,285 184,782
Hire purchase contracts 5,363 12,321
Trade creditors 95,061 129,302
Taxation and social security 6,572 10,165
Other creditors 81,479 74,558
347,760 411,128

NEDCO CONTRACTS (N.E) LIMITED (REGISTERED NUMBER: 07138888)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,458 30,834
Hire purchase contracts - 5,363
22,458 36,197

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 149,285 174,782
Hire purchase contracts 5,363 17,684
154,648 192,466

The hire purchase contracts are secured on the assets to which the agreement relates.
The bank overdraft is secured by a debenture over all of the company assets.

9. RESERVES
Revaluation
reserve
£   
At 1 May 2022 78,528
Revaluation Reserve movement (3,942 )

At 30 April 2023 74,586