Company Registration No. 4108788 (England and Wales)
NCI Systems limited
Unaudited accounts
for the year ended 30 September 2023
NCI Systems limited
Unaudited accounts
Contents
NCI Systems limited
Company Information
for the year ended 30 September 2023
Directors
P J Jones
R O Jones
Company Number
4108788 (England and Wales)
Registered Office
2 RYDENS ROAD
WALTON ON THAMES
SURREY
KT12 3BS
Accountants
RFM Associates
10 Carew Way
Watford
WD19 5GB
NCI Systems limited
Statement of financial position
as at 30 September 2023
Tangible assets
140,953
115,085
Cash at bank and in hand
305,554
545,561
Creditors: amounts falling due within one year
(366,009)
(298,585)
Net current assets
393,324
359,776
Total assets less current liabilities
554,277
494,861
Creditors: amounts falling due after more than one year
(112,567)
(162,567)
Provisions for liabilities
Deferred tax
(1,441)
(1,441)
Net assets
440,269
330,853
Called up share capital
80,714
80,714
Profit and loss account
359,555
250,139
Shareholders' funds
440,269
330,853
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by
P J Jones
Director
Company Registration No. 4108788
NCI Systems limited
Notes to the Accounts
for the year ended 30 September 2023
NCI Systems limited is a private company, limited by shares, registered in England and Wales, registration number 4108788. The registered office is 2 RYDENS ROAD, WALTON ON THAMES, SURREY, KT12 3BS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance basis
4
Tangible fixed assets
Plant & machinery
At 30 September 2023
411,746
Charge for the year
46,984
At 30 September 2023
270,793
At 30 September 2023
140,953
At 30 September 2022
115,085
NCI Systems limited
Notes to the Accounts
for the year ended 30 September 2023
5
Investments
Subsidiary undertakings
Valuation at 1 October 2022
20,000
Valuation at 30 September 2023
20,000
Amounts falling due within one year
Trade debtors
182,924
58,048
Other debtors
270,855
54,752
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
33,489
24,692
Amounts owed to group undertakings and other participating interests
32
32
Taxes and social security
205,761
167,186
Other creditors
126,727
106,675
8
Creditors: amounts falling due after more than one year
2023
2022
Amounts owed to group undertakings and other participating interests
20,900
20,900
Other creditors
91,667
141,667
Included within other creditors falling due after one year are:
1-an amount of £20900(2022 £20900) owed to NCI Europe limited in respect of liabilities which fall due for payment after more than five years from the balance sheet date.
2-an amount of £91667(2022 £141667) in respect of the Coronavirus Business Interruption Scheme (CBIL Scheme) which is repayable within 5 years.
The interest rate on the CBIL Scheme is 3.11% fixed for the first five years reverting to 2.81% plus Bank base rate for year six.
9
Operating lease commitments
2023
2022
At 30 September 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
27,000
28,785
NCI Systems limited
Notes to the Accounts
for the year ended 30 September 2023
10
Transactions with related parties
Included within Debtors of less than one year is a loan to W.Jones & Sons ( Motor Engineers) limited
in the sum of £200,000 (2022 £0).
PJ Jones is both a director and shareholder and RO Jones a shareholder of this company.
The loan is secured on the assets of the borrower and has no fixed repayment date but is repayable on demand .
Interest is charged at a commercial rate of .6% per calendar month.
11
Average number of employees
During the year the average number of employees was 13 (2022: 12).