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REGISTERED NUMBER: 02392591 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 March 2023

for

North Herts Surfacing Limited

North Herts Surfacing Limited (Registered number: 02392591)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


North Herts Surfacing Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S J E Candler
L Candler
D Candler





SECRETARY: L Candler





REGISTERED OFFICE: Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN





BUSINESS ADDRESS: Wireless Station Park
Chestnut Lane
Kneesworth
Royston
Hertfordshire
SG8 5JH





REGISTERED NUMBER: 02392591 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

North Herts Surfacing Limited (Registered number: 02392591)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 574,346 509,703

CURRENT ASSETS
Stocks 1,552 1,552
Debtors 2,292,945 2,335,437
Cash at bank and in hand 207,828 34
2,502,325 2,337,023
CREDITORS
Amounts falling due within one year 1,792,253 1,774,634
NET CURRENT ASSETS 710,072 562,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,284,418

1,072,092

CREDITORS
Amounts falling due after more than one
year

(130,398

)

(156,877

)

PROVISIONS FOR LIABILITIES (143,188 ) (96,679 )
NET ASSETS 1,010,832 818,536

CAPITAL AND RESERVES
Called up share capital 6 300 300
Retained earnings 1,010,532 818,236
SHAREHOLDERS' FUNDS 1,010,832 818,536

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

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

North Herts Surfacing Limited (Registered number: 02392591)

Abridged Balance Sheet - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2023 and were signed on its behalf by:





L Candler - Director


North Herts Surfacing Limited (Registered number: 02392591)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

North Herts Surfacing 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.

Turnover
Turnover represents amounts invoiced for work carried out under service contracts.

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.
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, 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 and loans 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


North Herts Surfacing Limited (Registered number: 02392591)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 24 ) .

North Herts Surfacing Limited (Registered number: 02392591)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 879,622
Additions 172,475
Disposals (149,722 )
At 31 March 2023 902,375
DEPRECIATION
At 1 April 2022 369,919
Charge for year 105,895
Eliminated on disposal (147,785 )
At 31 March 2023 328,029
NET BOOK VALUE
At 31 March 2023 574,346
At 31 March 2022 509,703

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022 469,828
Additions 168,133
Transfer to ownership (21,210 )
At 31 March 2023 616,751
DEPRECIATION
At 1 April 2022 57,498
Charge for year 87,184
Transfer to ownership (12,160 )
At 31 March 2023 132,522
NET BOOK VALUE
At 31 March 2023 484,229
At 31 March 2022 412,330

North Herts Surfacing Limited (Registered number: 02392591)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.23 31.3.22
£    £   
Gross obligations repayable:
Within one year 157,543 115,729
Between one and five years 141,128 168,623
298,671 284,352

Finance charges repayable:
Within one year 11,793 7,994
Between one and five years 10,730 11,746
22,523 19,740

Net obligations repayable:
Within one year 145,750 107,735
Between one and five years 130,398 156,877
276,148 264,612

Non-cancellable operating leases
31.3.23 31.3.22
£    £   
Within one year 255 765
Between one and five years - 2,550
255 3,315

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100
200 Ordinary 'A' £1 200 200
300 300

7. PENSION COMMITMENTS

The pension cost charge represents contributions payable by the company to the fund and amounted to £19,561 (2022: £17,434). At the end of the year on 31 March 2023 there was a balance of £1,591 outstanding to be paid (2022: £868).