Company Registration No. 01485109 (England and Wales)
North East Radio Communications Limited
Unaudited accounts
for the year ended 31 May 2023
North East Radio Communications Limited
Unaudited accounts
Contents
North East Radio Communications Limited
Company Information
for the year ended 31 May 2023
Directors
BT Main
JP Scully
Company Number
01485109 (England and Wales)
Registered Office
BEWICKE STREET
WILLINGTON QUAY
WALLSEND
TYNE AND WEAR
NE28 6SR
Accountants
WG Associates
83 Norfolk Crescent
Lindley Park
Nuneaton
Warwickshire
CV10 8BY
North East Radio Communications Limited
Statement of financial position
as at 31 May 2023
Tangible assets
106,465
49,346
Inventories
160,602
61,337
Cash at bank and in hand
282,363
412,534
Creditors: amounts falling due within one year
(92,514)
(144,267)
Net current assets
454,206
388,544
Total assets less current liabilities
560,671
437,890
Provisions for liabilities
Deferred tax
(26,616)
(12,336)
Net assets
534,055
425,554
Called up share capital
500
500
Profit and loss account
533,055
424,554
Shareholders' funds
534,055
425,554
For the year ending 31 May 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 23 October 2023 and were signed on its behalf by
BT Main
Director
Company Registration No. 01485109
North East Radio Communications Limited
Notes to the Accounts
for the year ended 31 May 2023
North East Radio Communications Limited is a private company, limited by shares, registered in England and Wales, registration number 01485109. The registered office is BEWICKE STREET, WILLINGTON QUAY, WALLSEND, TYNE AND WEAR, NE28 6SR.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. The estimated useful economic life varies dependant on nature of use of the asset in addition to the classification. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. :
Land & buildings
25% Reducing Balance
Plant & machinery
Straight line on cost over 3, 6, 7, or 8 years
Motor vehicles
25% Reducing Balance
Fixtures & fittings
Straight line on cost over 2, 3, 5, 8, or 10 years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
North East Radio Communications Limited
Notes to the Accounts
for the year ended 31 May 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2022
39,988
387,407
37,493
23,664
488,552
Additions
-
77,795
-
1,569
79,364
Disposals
(39,988)
(17,890)
(13,613)
(2,720)
(74,211)
At 31 May 2023
-
447,312
23,880
22,513
493,705
At 1 June 2022
39,988
363,454
27,562
8,202
439,206
Charge for the year
-
14,642
2,477
2,936
20,055
On disposals
(39,988)
(16,888)
(13,536)
(1,609)
(72,021)
At 31 May 2023
-
361,208
16,503
9,529
387,240
At 31 May 2023
-
86,104
7,377
12,984
106,465
At 31 May 2022
-
23,953
9,931
15,462
49,346
Amounts falling due within one year
Trade debtors
89,496
46,869
Accrued income and prepayments
10,581
9,789
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
14,763
14,470
Taxes and social security
20,464
25,215
Deferred income
48,985
49,533
Allotted, called up and fully paid:
500 Ordinary shares of £1 each
500
500
North East Radio Communications Limited
Notes to the Accounts
for the year ended 31 May 2023
The ultimate controlling party is North East Radio Communications Group Limited.
9
Average number of employees
During the year the average number of employees was 6 (2022: 6).