Surf AccountsProduction v1.0.0 v1.0.0 2022-03-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of asphalt contractors. 2 November 2023 0 0 06490473 2023-02-28 06490473 2022-02-28 06490473 2021-02-28 06490473 2022-03-01 2023-02-28 06490473 2021-03-01 2022-02-28 06490473 uk-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06490473 uk-curr:PoundSterling 2022-03-01 2023-02-28 06490473 uk-bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 06490473 uk-bus:FullAccounts 2022-03-01 2023-02-28 06490473 uk-core:ShareCapital 2023-02-28 06490473 uk-core:ShareCapital 2022-02-28 06490473 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 06490473 uk-core:RetainedEarningsAccumulatedLosses 2022-02-28 06490473 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 06490473 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-02-28 06490473 uk-bus:FRS102 2022-03-01 2023-02-28 06490473 uk-core:Goodwill 2022-03-01 2023-02-28 06490473 uk-core:PlantMachinery 2022-03-01 2023-02-28 06490473 uk-core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 06490473 uk-core:MotorVehicles 2022-03-01 2023-02-28 06490473 uk-core:Goodwill 2022-02-28 06490473 uk-core:Goodwill 2023-02-28 06490473 uk-core:CurrentFinancialInstruments 2023-02-28 06490473 uk-core:CurrentFinancialInstruments 2022-02-28 06490473 uk-core:WithinOneYear 2023-02-28 06490473 uk-core:WithinOneYear 2022-02-28 06490473 uk-core:OtherMiscellaneousReserve 2022-02-28 06490473 uk-core:OtherMiscellaneousReserve 2022-03-01 2023-02-28 06490473 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-02-28 06490473 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-02-28 06490473 uk-core:OtherDeferredTax 2023-02-28 06490473 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-02-28 06490473 uk-core:OtherMiscellaneousReserve 2023-02-28 06490473 2022-03-01 2023-02-28 06490473 uk-bus:CompanySecretary1 2022-03-01 2023-02-28 06490473 uk-bus:Director1 2022-03-01 2023-02-28 06490473 uk-bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
Company Registration Number: 06490473
 
 
Neville Godfrey Limited
 
Unaudited Financial Statements
 
for the financial year ended 28 February 2023



Neville Godfrey Limited
Company Registration Number: 06490473
BALANCE SHEET
as at 28 February 2023

2023 2022
Notes £ £
 
Fixed Assets
Intangible assets 5 7,168 14,336
Tangible assets 6 24,254 28,640
───────── ─────────
31,422 42,976
───────── ─────────
 
Current Assets
Stocks 7 750 750
Debtors 8 80,006 90,102
Cash at bank and in hand 41,585 12,224
───────── ─────────
122,341 103,076
───────── ─────────
Creditors: amounts falling due within one year 9 (40,121) (52,236)
───────── ─────────
Net Current Assets 82,220 50,840
───────── ─────────
Total Assets less Current Liabilities 113,642 93,816
 
Provisions for liabilities 11 (5,093) (5,442)
───────── ─────────
Net Assets 108,549 88,374
═════════ ═════════
 
Capital and Reserves
Called up share capital 150 150
Retained earnings 108,399 88,224
───────── ─────────
Shareholders' Funds 108,549 88,374
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 2 November 2023 and signed on its behalf by
           
           
           
________________________________          
L M Godfrey          
Director          
           



Neville Godfrey Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 28 February 2023

   
1. General Information
 
Neville Godfrey Limited is a company limited by shares incorporated in the United Kingdom. 36-38 King Street, King's Lynn, Norfolk, PE301ES, England is the registered office. The principal place of business is 4 Lavender Road, King's Lynn, Norfolk, PE30 4HA.The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 28 February 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of sales made by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Reducing balance
  Fixtures, fittings and equipment - 15% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance/accrual model.

Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 5, (2022 - 7).
       
4. Dividends 2023 2022
  £ £
Dividends on equity shares:
 
Ordinary Shares - Interim paid 51,000 51,000
  ═════════ ═════════
 
Since the year end dividends totalling £34,250 have been paid.
     
5. Intangible assets
   
  Goodwill
  £
Cost
At 1 March 2022 102,400
  ─────────
 
At 28 February 2023 102,400
  ─────────
Amortisation
At 1 March 2022 88,064
Charge for financial year 7,168
  ─────────
At 28 February 2023 95,232
  ─────────
Net book value
At 28 February 2023 7,168
  ═════════
At 28 February 2022 14,336
  ═════════
           
6. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 March 2022 28,217 2,128 63,091 93,436
Additions 995 1,050 - 2,045
Disposals - (1,474) - (1,474)
  ───────── ───────── ───────── ─────────
At 28 February 2023 29,212 1,704 63,091 94,007
  ───────── ───────── ───────── ─────────
Depreciation
At 1 March 2022 16,324 1,625 46,847 64,796
Charge for the financial year 1,796 233 4,061 6,090
On disposals - (1,133) - (1,133)
  ───────── ───────── ───────── ─────────
At 28 February 2023 18,120 725 50,908 69,753
  ───────── ───────── ───────── ─────────
Net book value
At 28 February 2023 11,092 979 12,183 24,254
  ═════════ ═════════ ═════════ ═════════
At 28 February 2022 11,893 503 16,244 28,640
  ═════════ ═════════ ═════════ ═════════
       
7. Stocks 2023 2022
  £ £
 
Raw materials 750 750
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
8. Debtors 2023 2022
  £ £
 
Trade debtors 71,967 75,460
Directors' current accounts (Note 13) 1,712 8,719
Prepayments and accrued income 6,327 5,923
  ───────── ─────────
  80,006 90,102
  ═════════ ═════════
 
Trade debtors includes amounts due for contracts not billed at the year end of £850 (2022 £4,585).
       
9. Creditors 2023 2022
Amounts falling due within one year £ £
 
Trade creditors 9,952 28,918
Taxation  (Note 10) 23,986 13,984
Directors' current accounts 3,148 4,731
Other creditors - 1,527
Accruals:
Pension accrual - 81
Other accruals 3,035 2,995
  ───────── ─────────
  40,121 52,236
  ═════════ ═════════
       
10. Taxation 2023 2022
  £ £
 
Creditors:
VAT 3,295 4,139
Corporation tax 19,237 8,521
PAYE / NI 1,454 1,324
  ───────── ─────────
  23,986 13,984
  ═════════ ═════════
       
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total
  allowances  
     
  2023 2022
  £ £
 
At financial year start 5,442 6,883
Charged to profit and loss (349) (1,441)
  ───────── ─────────
At financial year end 5,093 5,442
  ═════════ ═════════
           
12. Related party transactions
 
During the year dividends totalling £51,000 were paid to the directors.
   
13. Directors' advances, credits and guarantees
 
At the balance sheet date Mrs L M Godfrey owed the Company £1,712. The loan was repaid on 31 May 2023.
   
14. Controlling interest
 
The company is under the control of Mrs L M Godfrey, a director and the majority shareholder.