REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
NCF Engineering Holdings Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
NCF Engineering Holdings Limited |
NCF Engineering Holdings Limited (Registered number: 08105932) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NCF Engineering Holdings Limited |
Company Information |
for the Year Ended 28 February 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
15 St Georges Road |
Cheltenham |
Gloucestershire |
GL50 3DT |
NCF Engineering Holdings Limited (Registered number: 08105932) |
Balance Sheet |
28 February 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Investments | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
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. |
NCF Engineering Holdings Limited (Registered number: 08105932) |
Balance Sheet - continued |
28 February 2023 |
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 |
NCF Engineering Holdings Limited (Registered number: 08105932) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
NCF Engineering Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
NCF Engineering Holdings Limited (Registered number: 08105932) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 March 2022 |
Additions |
Revaluations | 285,161 |
Impairments | (481,357 | ) |
At 28 February 2023 |
Net book value |
At 28 February 2023 |
At 28 February 2022 |
Fair value at 28 February 2023 is represented by: |
£ |
Valuation in 2023 | (196,196 | ) |
Cost | 1,446,196 |
1,250,000 |
The valuation above was determined by the directors of the company based on open market values of similar properties in the same geographical location as at 28 February 2023. |
5. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Shares in group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
NCF Engineering Holdings Limited (Registered number: 08105932) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
G&P Furno loan | 280,751 | 308,122 |
NatWest loan | 65,224 | 79,603 |
The above balances are secured against fixed charges over the property owned by the company. |
9. | RESERVES |
Fair |
value |
reserve |
£ |
Transfer to fair value reserve | 224,807 |
At 28 February 2023 |
10. | RELATED PARTY DISCLOSURES |
Transactions with directors |
At the balance sheet date the company had been loaned £78,307 (2022 - £79,345) by the directors of the company. There are no fixed repayment terms and no interest is charged on the outstanding balance. |
At the balance sheet date the company had been loaned £280,751 (2022 - £308,122) by a director and their wife. There are no fixed repayment terms and no interest is charged on the outstanding balance. |
Transactions with close family relatives |
At the balance sheet date the company had been loaned £468.93 (2022 - £468.93) by close family members of the directors. There are no fixed repayment terms and no interest is charged on the outstanding balance. |