Company Registration No. 11214456 (England and Wales)
NRBC ENTERPRISES LTD
ANNUAL REPORT AND UNAUDITED
FOR THE YEAR ENDED
28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
NRBC ENTERPRISES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NRBC ENTERPRISES LTD
Company Registration No. 11214456
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
7,312
5,410
Cash at bank and in hand
8,382
14,404
15,694
19,814
Creditors: amounts falling due within one year
4
(25,920)
(26,552)
Net current liabilities
(10,226)
(6,738)
Creditors: amounts falling due after more than one year
5
(5,682)
(7,433)
Net liabilities
(15,908)
(14,171)
Capital and reserves
Called up share capital
6
400
400
Share premium account
6,900
6,900
Profit and loss reserves
(23,208)
(21,471)
Total equity
(15,908)
(14,171)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 October 2023 and are signed on its behalf by:
R Crowcroft
Director
NRBC ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

NRBC Enterprises Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Container Yard, 39-41 Markfield Road, London, N15 4QA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has made a net loss of £1,737 and has net liabilities of £15,908. Included in other creditors are amounts due to the directors totalling £13,856.

 

The current COVID-19 pandemic has created uncertainty over the future financial implications to the worldwide economy. The directors have confirmed that they will continue to support the company for the foreseeable future and are confident of the company's ability to trade as a going concern and meet its financial obligations. Therefore the accounts have been prepared on the going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable from operation of arts facilities in the normal course of business.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

NRBC ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,150
-
0
Other debtors
6,162
5,410
7,312
5,410
NRBC ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,751
1,567
Trade creditors
1,572
-
0
Other creditors
22,597
24,985
25,920
26,552
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
5,682
7,433
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
400
400
400
400
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
131,850
155,100
8
Related party transactions

At the balance sheet date the company owed the directors a total of £13,856 (2022 - £13,856) . These loans are interest free.

 

 

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