Registered number
09487220
Nero Tiling Limited
Unaudited Filleted Accounts
31 March 2023
Nero Tiling Limited
Registered number: 09487220
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,416 17,888
Current assets
Debtors 4 15,541 26,223
Cash at bank and in hand 54,811 42,406
70,352 68,629
Creditors: amounts falling due within one year 5 (30,269) (39,111)
Net current assets 40,083 29,518
Total assets less current liabilities 53,499 47,406
Creditors: amounts falling due after more than one year 6 (4,581) (11,737)
Net assets 48,918 35,669
Capital and reserves
Called up share capital 200 200
Profit and loss account 48,718 35,469
Shareholders' funds 48,918 35,669
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Neil Algar
Director
Approved by the board on 3 October 2023
Nero Tiling Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicle 3 year straight line
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2022 46,132
At 31 March 2023 46,132
Depreciation
At 1 April 2022 28,244
Charge for the year 4,472
At 31 March 2023 32,716
Net book value
At 31 March 2023 13,416
At 31 March 2022 17,888
4 Debtors 2023 2022
£ £
Trade debtors 6,787 14,662
Other debtors 8,754 11,561
15,541 26,223
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 7,356 7,258
Trade creditors 277 264
Corporation tax 11,663 10,278
Other taxes and social security costs 1,249 -
Other creditors 9,724 21,311
30,269 39,111
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 4,581 11,737
7 Controlling party
Neil Algar and Ronald Barath, the directors, are the ultimate controlling party by virtue of owning 100% of the share capital.
8 Other information
Nero Tiling Limited is a private company limited by shares and incorporated in England. Its registered office is:
Stathune
Oxted Road
Godstone
Surrey
RH9 8AD
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