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REGISTERED NUMBER: 03554173 (England and Wales)











Financial Statements for the Year Ended 31 March 2023

for

N K S Contracts Limited

N K S Contracts Limited (Registered number: 03554173)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


N K S Contracts Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: N K Smith
L Pinker





SECRETARY: N K Smith





REGISTERED OFFICE: Units C&D, 6 The Old Coachworks
Kingsfield Lane
Longwell Green
South Glos
BS30 6DL





REGISTERED NUMBER: 03554173 (England and Wales)





ACCOUNTANTS: PBTA Keynsham Limited
2nd Floor, 53 High Street
Keynsham
N E Somerset
BS31 1DS

N K S Contracts Limited (Registered number: 03554173)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 64,689 127,841
64,689 127,841

CURRENT ASSETS
Stocks 65,484 10,000
Debtors 6 204,239 554,338
Cash at bank and in hand 1,508,929 1,127,924
1,778,652 1,692,262
CREDITORS
Amounts falling due within one year 7 604,336 650,320
NET CURRENT ASSETS 1,174,316 1,041,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,239,005

1,169,783

CAPITAL AND RESERVES
Called up share capital 105 105
Retained earnings 1,238,900 1,169,678
1,239,005 1,169,783

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 directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:



N K Smith - Director


N K S Contracts Limited (Registered number: 03554173)

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

1. STATUTORY INFORMATION

N K S Contracts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost and 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

N K S Contracts Limited (Registered number: 03554173)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 3,000
AMORTISATION
At 1 April 2022
and 31 March 2023 3,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 463,777
Additions 2,662
Disposals (78,991 )
At 31 March 2023 387,448
DEPRECIATION
At 1 April 2022 335,936
Charge for year 24,898
Eliminated on disposal (38,075 )
At 31 March 2023 322,759
NET BOOK VALUE
At 31 March 2023 64,689
At 31 March 2022 127,841

N K S Contracts Limited (Registered number: 03554173)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 175,877 516,963
Other debtors 28,362 37,375
204,239 554,338

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 327,274 316,840
Taxation and social security 226,333 233,659
Other creditors 50,729 99,821
604,336 650,320