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REGISTERED NUMBER: NI617351 (Northern Ireland)















Financial Statements

for the Year Ended 31 March 2023

for

NCD Electrical (NI) Ltd

NCD Electrical (NI) Ltd (Registered number: NI617351)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NCD Electrical (NI) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: C J Doyle





REGISTERED OFFICE: 70 Castlewellan Road
Hilltown
Newry
Co. Down
BT34 5YJ





REGISTERED NUMBER: NI617351 (Northern Ireland)





ACCOUNTANTS: Barnbrook Sinclair
Chartered Accountants
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

NCD Electrical (NI) Ltd (Registered number: NI617351)

Statement of Financial Position
31 March 2023

31/3/23 31/3/22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 1,847 28,197

CURRENT ASSETS
Debtors 6 569,271 82,450
Cash at bank and in hand 25,297 179,818
594,568 262,268
CREDITORS
Amounts falling due within one year 7 (444,305 ) (105,474 )
NET CURRENT ASSETS 150,263 156,794
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,110

184,991

CREDITORS
Amounts falling due after more than one
year

8

-

(36,418

)
NET ASSETS 152,110 148,573

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 152,010 148,473
152,110 148,573

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 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.

NCD Electrical (NI) Ltd (Registered number: NI617351)

Statement of Financial Position - 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.

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 director and authorised for issue on 10 November 2023 and were signed by:





C J Doyle - Director


NCD Electrical (NI) Ltd (Registered number: NI617351)

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

1. STATUTORY INFORMATION

NCD Electrical (NI) Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue 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 cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

NCD Electrical (NI) Ltd (Registered number: NI617351)

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 April 2022 30,943 19,088 56,323 5,362 111,716
Disposals - - (56,323 ) - (56,323 )
At 31 March 2023 30,943 19,088 - 5,362 55,393
Depreciation
At 1 April 2022 30,943 17,326 32,019 3,231 83,519
Charge for year - 1,085 - 961 2,046
Eliminated on disposal - - (32,019 ) - (32,019 )
At 31 March 2023 30,943 18,411 - 4,192 53,546
Net book value
At 31 March 2023 - 677 - 1,170 1,847
At 31 March 2022 - 1,762 24,304 2,131 28,197

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 504,803 49,792
Other debtors 64,468 32,658
569,271 82,450

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 68,006 -
Hire purchase contracts (see note 9) - 7,323
Trade creditors 311,501 56,300
Taxation and social security 21,190 36,872
Other creditors 43,608 4,979
444,305 105,474

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Hire purchase contracts (see note 9) - 36,418

NCD Electrical (NI) Ltd (Registered number: NI617351)

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

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/3/23 31/3/22
£    £   
Net obligations repayable:
Within one year - 7,323
Between one and five years - 36,418
- 43,741

Non-cancellable operating leases
31/3/23 31/3/22
£    £   
Within one year 2,200 26,400

10. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Northern Bank Limited - 453

Fixed and floating charges, floating charge covers all the property or undertaking of the company. Also includes a negative pledge.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23 31/3/22
£    £   
C J Doyle
Balance outstanding at start of year - -
Amounts advanced 40,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,000 -

The director's loan was repaid in full on the 2 April 2023, interest has been charged on the loan.