NORTHWEST GUITARS LIMITED

Company Registration Number:
07861752 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

NORTHWEST GUITARS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

NORTHWEST GUITARS LIMITED

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Directors

The director shown below has held office during the whole of the period from
1 April 2022 to 31 March 2023

Kevin Grey


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
11 October 2023

And signed on behalf of the board by:
Name: Kevin Grey
Status: Director

NORTHWEST GUITARS LIMITED

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 1,084,428 1,270,589
Cost of sales: ( 478,952 ) ( 966,160 )
Gross profit(or loss): 605,476 304,429
Distribution costs: ( 57,889 ) ( 12,125 )
Administrative expenses: ( 461,062 ) ( 170,303 )
Other operating income: 40
Operating profit(or loss): 86,565 122,001
Interest payable and similar charges: ( 2,068 ) ( 9 )
Profit(or loss) before tax: 84,497 121,992
Tax: ( 15,578 ) ( 22,796 )
Profit(or loss) for the financial year: 68,919 99,196

NORTHWEST GUITARS LIMITED

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 19,625 16,372
Total fixed assets: 19,625 16,372
Current assets
Stocks: 4 219,842 207,282
Debtors: 5 43,618 6,083
Cash at bank and in hand: 198,693 197,274
Total current assets: 462,153 410,639
Creditors: amounts falling due within one year: 6 ( 26,928 ) ( 1,624 )
Net current assets (liabilities): 435,225 409,015
Total assets less current liabilities: 454,850 425,387
Total net assets (liabilities): 454,850 425,387
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 454,750 425,287
Total Shareholders' funds: 454,850 425,387

The notes form part of these financial statements

NORTHWEST GUITARS LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 11 October 2023
and signed on behalf of the board by:

Name: Kevin Grey
Status: Director

The notes form part of these financial statements

NORTHWEST GUITARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    25% Reducing balance

    Other accounting policies

    The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

NORTHWEST GUITARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 6 6

NORTHWEST GUITARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 13,801 12,214 14,379 40,394
Additions 5,487 1,823 2,485 9,795
Disposals
Revaluations
Transfers
At 31 March 2023 19,288 14,037 16,864 50,189
Depreciation
At 1 April 2022 8,732 6,176 9,114 24,022
Charge for year 2,639 1,966 1,937 6,542
On disposals
Other adjustments
At 31 March 2023 11,371 8,142 11,051 30,564
Net book value
At 31 March 2023 7,917 5,895 5,813 19,625
At 31 March 2022 5,069 6,038 5,265 16,372

NORTHWEST GUITARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Stocks

2023 2022
£ £
Stocks 219,842 207,282
Total 219,842 207,282

NORTHWEST GUITARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Debtors

2023 2022
£ £
Trade debtors 43,618 6,083
Total 43,618 6,083

NORTHWEST GUITARS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 26,928 1,624
Total 26,928 1,624