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REGISTERED NUMBER: 08105932 (England and Wales)












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: N S C Furno
G S Furno





Secretary: G S Furno





Registered office: Liddington Industrial Estate
Unit C2
Cheltenham
Gloucestershire
GL53 0DL





Registered number: 08105932 (England and Wales)





Accountants: Crowthers Chartered 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 1,250,000 1,431,134

CURRENT ASSETS
Investments 5 100 100
Cash at bank 15,931 13,204
16,031 13,304
CREDITORS
Amounts falling due within one year 6 653,548 638,520
NET CURRENT LIABILITIES (637,517 ) (625,216 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

612,483

805,918

CREDITORS
Amounts falling due after more than one year 7 (47,331 ) (61,710 )

PROVISIONS FOR LIABILITIES (4,301 ) (4,181 )
NET ASSETS 560,851 740,027

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 224,807 -
Retained earnings 335,944 739,927
560,851 740,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

NCF Engineering Holdings Limited (Registered number: 08105932)

Balance Sheet - continued
28 February 2023


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 24 November 2023 and were signed on its behalf by:





N S C Furno - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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 2 (2022 - 2 ) .

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 1,431,134
Additions 15,062
Revaluations 285,161
Impairments (481,357 )
At 28 February 2023 1,250,000
Net book value
At 28 February 2023 1,250,000
At 28 February 2022 1,431,134

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 100 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,892 17,892
Trade creditors 75 -
Amounts owed to group undertakings 270,828 227,358
Taxation and social security 4,701 4,284
Other creditors 360,052 388,986
653,548 638,520

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 47,331 61,710

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
345,975 387,725

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 224,807

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.