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REGISTERED NUMBER: 09391235 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Nial Rees (Services) Ltd

Nial Rees (Services) Ltd (Registered number: 09391235)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nial Rees (Services) Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: D N Watkin - Rees
Mrs R E Watkin - Rees





REGISTERED OFFICE: Williamston House
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 1PX





REGISTERED NUMBER: 09391235 (England and Wales)

Nial Rees (Services) Ltd (Registered number: 09391235)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,466 66,374

CURRENT ASSETS
Debtors 5 11,927 1,810
Cash at bank 1,771 24,298
13,698 26,108
CREDITORS
Amounts falling due within one year 6 7,517 9,554
NET CURRENT ASSETS 6,181 16,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,647

82,928

PROVISIONS FOR LIABILITIES 13,389 12,611
NET ASSETS 63,258 70,317

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 63,158 70,217
63,258 70,317

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

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

Nial Rees (Services) Ltd (Registered number: 09391235)

Balance Sheet - continued
31 January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:




D N Watkin - Rees - Director



Mrs R E Watkin - Rees - Director


Nial Rees (Services) Ltd (Registered number: 09391235)

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

1. STATUTORY INFORMATION

Nial Rees (Services) 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.

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 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 50% on cost and 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

Nial Rees (Services) Ltd (Registered number: 09391235)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 45,872 1,262 60,866 15,602 123,602
Additions 20,388 - 8,350 6,183 34,921
At 31 January 2023 66,260 1,262 69,216 21,785 158,523
DEPRECIATION
At 1 February 2022 20,272 443 25,197 11,316 57,228
Charge for year 11,497 123 14,526 4,683 30,829
At 31 January 2023 31,769 566 39,723 15,999 88,057
NET BOOK VALUE
At 31 January 2023 34,491 696 29,493 5,786 70,466
At 31 January 2022 25,600 819 35,669 4,286 66,374

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 9,600 -
Other debtors 2,327 1,810
11,927 1,810

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 1,734 1,506
Taxation and social security 5,291 7,726
Other creditors 492 322
7,517 9,554

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.1.23 31.1.22
£    £   
Mrs R E Watkin - Rees and D N Watkin - Rees
Balance outstanding at start of year (322 ) 17,126
Amounts advanced - 49,454
Amounts repaid - (66,902 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (322 )

Nial Rees (Services) Ltd (Registered number: 09391235)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest has been charged on the overdrawn directors loan account at HM Revenue & Customs beneficial interest rate. The overdrawn directors loan account has been repaid within nine months of the year end.