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Company registration number: 07811012
Northwest Plastering Systems Limited
Unaudited filleted financial statements
31 March 2023
Northwest Plastering Systems Limited
Contents
Statement of financial position
Notes to the financial statements
Northwest Plastering Systems Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Current assets
Cash at bank and in hand 315 315
_______ _______
315 315
Creditors: amounts falling due
within one year 5 ( 1,847) ( 1,834)
_______ _______
Net current liabilities ( 1,532) ( 1,519)
_______ _______
Total assets less current liabilities ( 1,532) ( 1,519)
_______ _______
Net liabilities ( 1,532) ( 1,519)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 1,632) ( 1,619)
_______ _______
Shareholders deficit ( 1,532) ( 1,519)
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 November 2023 , and are signed on behalf of the board by:
A R Trowers
Director
Company registration number: 07811012
Northwest Plastering Systems Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 98 Lancaster Road, Newcastle Under Lyme, Staffordshire, ST5 1DS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis see note 8 for information.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 0 (2022: 0).
5. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings 1,722 1,709
Director loan account 125 125
_______ _______
1,847 1,834
_______ _______
6. Related party transactions
ART Plastering Systems Limited is considered to be a related party by virtue of being under common control. At the balance sheet date Northwest Plastering Systems Limited owed ART Plastering Systems Limited £1,722 (2022:£1,709). A R Trowers is considered to be a related party by virtue of his directorship and shareholding in the ultimate parent company. At the balance sheet date the company owed A R Trowers £125 (2022: £125).
7. Ultimate parent undertaking
The company is a wholly owned subsidiary of ART Group Holdings Limited - Company No - 06440137, registered office address; 98 Lancaster Road, Newcastle-under-Lyme, Staffordshire, ST5 1DS.
8. Going concern
Assuming the continued support of the group and the company's director, it is the director's view that the company will continue in operational existence in the forseeable future and will meet its liabilities as they fall due.