IRIS Accounts Production v23.3.1.45 06492116 Board of Directors Board of Directors 31.3.23 1.4.22 31.3.23 31.3.23 Sale of shop fittings and display equipment true true false true false false false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064921162022-03-31064921162023-03-31064921162022-04-012023-03-31064921162021-03-31064921162021-04-012022-03-31064921162022-03-3106492116ns10:Originalns15:EnglandWales2022-04-012023-03-3106492116ns14:PoundSterlingns10:Original2022-04-012023-03-3106492116ns10:Originalns10:Director12022-04-012023-03-3106492116ns10:Original2022-04-012023-03-3106492116ns10:Originalns10:Director22022-04-012023-03-3106492116ns10:Originalns10:Consolidated2023-03-3106492116ns10:Original2023-03-3106492116ns10:Originalns10:ConsolidatedGroupCompanyAccounts2022-04-012023-03-3106492116ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3106492116ns10:Originalns10:Consolidatedns10:SmallEntities2022-04-012023-03-3106492116ns10:Originalns10:Consolidatedns10:AuditExemptWithAccountantsReport2022-04-012023-03-3106492116ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3106492116ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3106492116ns10:Originalns10:Consolidatedns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3106492116ns10:SmallCompaniesRegimeForAccountsns10:Originalns10:Consolidated2022-04-012023-03-3106492116ns10:Originalns10:FullAccounts2022-04-012023-03-3106492116ns10:Originalns5:Subsidiary12022-04-012023-03-3106492116ns10:Originalns5:Subsidiary22022-04-012023-03-3106492116ns10:Original12022-04-012023-03-3106492116ns10:Originalns10:Consolidated2022-04-012023-03-3106492116ns10:Originalns10:Director42022-04-012023-03-3106492116ns10:Originalns10:RegisteredOffice2022-04-012023-03-3106492116ns10:Originalns10:Director32022-04-012023-03-3106492116ns10:Originalns10:Consolidated2021-04-012022-03-3106492116ns10:Original2022-03-3106492116ns10:Originalns5:CurrentFinancialInstruments2023-03-3106492116ns10:Originalns5:CurrentFinancialInstruments2022-03-3106492116ns5:ShareCapitalns10:Original2023-03-3106492116ns5:ShareCapitalns10:Original2022-03-3106492116ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3106492116ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3106492116ns5:ShareCapitalns10:Original2021-03-3106492116ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-03-3106492116ns10:Original2021-03-3106492116ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-04-012022-03-3106492116ns10:Original2021-04-012022-03-3106492116ns5:ShareCapitalns10:Original2021-04-012022-03-3106492116ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3106492116ns10:Originalns5:NetGoodwill2022-04-012023-03-3106492116ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-3106492116ns10:Originalns5:ComputerSoftware2022-04-012023-03-3106492116ns10:Originalns5:PlantMachinery2022-04-012023-03-3106492116ns10:Originalns5:NetGoodwill2022-03-3106492116ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-3106492116ns10:Original2022-03-3106492116ns10:Originalns5:NetGoodwill2023-03-3106492116ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-03-3106492116ns10:Originalns5:NetGoodwill2022-03-3106492116ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-3106492116ns10:Originalns5:PlantMachinery2022-03-3106492116ns10:Originalns5:PlantMachinery2023-03-3106492116ns10:Originalns5:PlantMachinery2022-03-3106492116ns10:Originalns5:CostValuation2022-03-3106492116ns10:Originalns5:Subsidiary112022-04-012023-03-3106492116ns10:Originalns5:Subsidiary12023-03-3106492116ns10:Originalns5:Subsidiary12022-03-3106492116ns10:Originalns5:Subsidiary12021-04-012022-03-3106492116ns10:Original3ns5:Subsidiary22022-04-012023-03-3106492116ns10:Originalns5:Subsidiary22023-03-3106492116ns10:Originalns5:Subsidiary22022-03-3106492116ns10:Originalns5:Subsidiary22021-04-012022-03-3106492116ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106492116ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: 06492116 (England and Wales)
















Report of the Directors and

Unaudited

Consolidated Financial Statements

for the Year Ended 31 March 2023

for

Nabco Group Limited

Nabco Group Limited (Registered number: 06492116)

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










Page

Company Information 1

Report of the Directors 2

Accountants' Report 3

Consolidated Income Statement 4

Consolidated Balance Sheet 5

Company Balance Sheet 7

Consolidated Statement of Changes in Equity 9

Company Statement of Changes in Equity 10

Notes to the Consolidated Financial Statements 11


Nabco Group Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr T Satyadheva
Mr J Adams
Mr R Adams





REGISTERED OFFICE: Unit 5a Brick Knoll Park
Ashley Road
St. Albans
Hertfordshire
AL1 5UG





REGISTERED NUMBER: 06492116 (England and Wales)





ACCOUNTANTS: Somerset Accountancy Services Ltd
22 Wessex Park
Bancombe Business Estate
Somerton
Somerset
TA11 6SB

Nabco Group Limited (Registered number: 06492116)

Report of the Directors
for the Year Ended 31 March 2023


The directors present their report with the financial statements of the company and the group for the year ended 31 March 2023.

DIRECTORS
Mr T Satyadheva has held office during the whole of the period from 1 April 2022 to the date of this report.

Other changes in directors holding office are as follows:

Mr R C Willis - resigned 5 May 2022
Mr J Adams - appointed 16 September 2022
Mr R Adams - appointed 16 September 2022

DONATIONS AND EXPENDITURE
Donation to registered charity

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr J Adams - Director


24 November 2023

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Nabco Group Limited



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nabco Group Limited for the year ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and the related notes from the company's and the group's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Nabco Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nabco Group Limited and state those matters that we have agreed to state to the Board of Directors of Nabco Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nabco Group Limited the company and the group and the company's Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nabco Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nabco Group Limited. You consider that Nabco Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nabco Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Somerset Accountancy Services Ltd
22 Wessex Park
Bancombe Business Estate
Somerton
Somerset
TA11 6SB


24 November 2023

Nabco Group Limited (Registered number: 06492116)

Consolidated Income Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 8,690,108 8,178,392

Cost of sales 6,576,992 6,199,332
GROSS PROFIT 2,113,116 1,979,060

Administrative expenses 1,637,664 1,464,160
475,452 514,900

Other operating income 233 32,655
OPERATING PROFIT 4 475,685 547,555

Interest receivable and similar income 290 -
475,975 547,555

Interest payable and similar expenses 165,041 102,367
PROFIT BEFORE TAXATION 310,934 445,188

Tax on profit 42,018 102,971
PROFIT FOR THE FINANCIAL YEAR 268,916 342,217

Profit attributable to:
Owners of the parent 268,916 342,217

Nabco Group Limited (Registered number: 06492116)

Consolidated Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 90,042 111,484
Tangible assets 7 28,899 27,775
Investments 8 - -
118,941 139,259

CURRENT ASSETS
Stocks 1,781,069 2,039,433
Debtors 9 1,452,869 1,369,877
Cash at bank and in hand 155,470 483,881
3,389,408 3,893,191
CREDITORS
Amounts falling due within one year 10 2,915,620 3,048,191
NET CURRENT ASSETS 473,788 845,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

592,729

984,259

CREDITORS
Amounts falling due after more than one
year

11

(253,710

)

(415,315

)

PROVISIONS FOR LIABILITIES (4,141 ) (2,982 )
NET ASSETS 334,878 565,962

CAPITAL AND RESERVES
Called up share capital 1,961 1,961
Retained earnings 332,917 564,001
SHAREHOLDERS' FUNDS 334,878 565,962

The company and the group are 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 and the group 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 group 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 and the group as at the end of each financial year and of the group's 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 and the group.

Nabco Group Limited (Registered number: 06492116)

Consolidated Balance Sheet - continued
31 March 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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:




Mr T Satyadheva - Director



Mr J Adams - Director


Nabco Group Limited (Registered number: 06492116)

Company Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 79,852 99,333
Tangible assets 7 28,899 27,775
Investments 8 322,600 322,600
431,351 449,708

CURRENT ASSETS
Debtors 9 16,431 676,168
Cash at bank 16,398 11,465
32,829 687,633
CREDITORS
Amounts falling due within one year 10 450,188 1,127,335
NET CURRENT LIABILITIES (417,359 ) (439,702 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,992

10,006

PROVISIONS FOR LIABILITIES 4,141 2,982
NET ASSETS 9,851 7,024

CAPITAL AND RESERVES
Called up share capital 1,961 1,961
Retained earnings 7,890 5,063
SHAREHOLDERS' FUNDS 9,851 7,024

Company's profit for the financial year 502,827 348,900

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.

Nabco Group Limited (Registered number: 06492116)

Company Balance Sheet - continued
31 March 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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:




Mr J Adams - Director



Mr T Satyadheva - Director


Nabco Group Limited (Registered number: 06492116)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2021 1,000 537,745 538,745

Changes in equity
Issue of share capital 961 - 961
Total comprehensive income - 342,217 342,217
Capital contribution to
employee benefit trust - (315,961 ) (315,961 )
Balance at 31 March 2022 1,961 564,001 565,962

Changes in equity
Total comprehensive income - 268,916 268,916
Capital contribution to
employee benefit trust - (500,000 ) (500,000 )
Balance at 31 March 2023 1,961 332,917 334,878

Nabco Group Limited (Registered number: 06492116)

Company Statement of Changes in Equity
for the Year Ended 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2021 1,000 (27,876 ) (26,876 )

Changes in equity
Profit for the year - 348,900 348,900
Total comprehensive income - 348,900 348,900
Issue of share capital 961 - 961
Capital contribution to
employee benefit trust - (315,961 ) (315,961 )
Balance at 31 March 2022 1,961 5,063 7,024

Changes in equity
Profit for the year - 502,827 502,827
Total comprehensive income - 502,827 502,827
Capital contribution to
employee benefit trust - (500,000 ) (500,000 )
Balance at 31 March 2023 1,961 7,890 9,851

Nabco Group Limited (Registered number: 06492116)

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


1. STATUTORY INFORMATION

Nabco Group 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 General 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.

Basis of consolidation
The group's financial statements include the results of the subsidiaries in the consolidated financial statements from the date that control commences until the date the control ceases.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 - 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


Nabco Group Limited (Registered number: 06492116)

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


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Debt factoring
The gross amount of trade debtors is shown on the balance sheet included in debtors due within one year and a corresponding liability in respect of the proceeds received from the factor is shown in creditors due in less than one year.

The interest element of the factor's charges and other factoring costs are recognised as they accrue and included in the profit and loss account with interest payable and similar charges.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 6 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 27 (2022 - 28 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.23 31.3.22
£    £   
Depreciation - owned assets 29,585 65,275
Goodwill amortisation 16,961 16,961
Computer software amortisation 4,481 1,867

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Nabco Group Limited (Registered number: 06492116)

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


6. INTANGIBLE FIXED ASSETS

Group
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 339,227 11,200 350,427
AMORTISATION
At 1 April 2022 237,076 1,867 238,943
Charge for year 16,961 4,481 21,442
At 31 March 2023 254,037 6,348 260,385
NET BOOK VALUE
At 31 March 2023 85,190 4,852 90,042
At 31 March 2022 102,151 9,333 111,484

Company
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 300,000 11,200 311,200
AMORTISATION
At 1 April 2022 210,000 1,867 211,867
Charge for year 15,000 4,481 19,481
At 31 March 2023 225,000 6,348 231,348
NET BOOK VALUE
At 31 March 2023 75,000 4,852 79,852
At 31 March 2022 90,000 9,333 99,333

Nabco Group Limited (Registered number: 06492116)

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


7. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£   
COST
At 1 April 2022 326,638
Additions 30,709
At 31 March 2023 357,347
DEPRECIATION
At 1 April 2022 298,863
Charge for year 29,585
At 31 March 2023 328,448
NET BOOK VALUE
At 31 March 2023 28,899
At 31 March 2022 27,775

Company
Plant and
machinery
etc
£   
COST
At 1 April 2022 326,638
Additions 30,709
At 31 March 2023 357,347
DEPRECIATION
At 1 April 2022 298,863
Charge for year 29,585
At 31 March 2023 328,448
NET BOOK VALUE
At 31 March 2023 28,899
At 31 March 2022 27,775

Nabco Group Limited (Registered number: 06492116)

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


8. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 322,600
NET BOOK VALUE
At 31 March 2023 322,600
At 31 March 2022 322,600

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Nabco Sales Limited
Registered office: United Kingdom
Nature of business: Shop Fittings and display equipment
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 24,461 60,659
Profit for the year 13,802 34,468

Nabco Direct Limited
Registered office: United Kingdom
Nature of business: Shop Fittings and display equipment
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 612,976 808,727
Profit for the year 189,249 350,454

Nabco Group Limited (Registered number: 06492116)

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


8. FIXED ASSET INVESTMENTS - continued

Nabco Sales Limited
Registered office: United Kingdom
Nature of business: Shop fittings and display equipment
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 24,461 60,659
Profit for the year 13,802 34,468

Nabco Direct Limited
Registered office: United Kingdom
Nature of business: Shop fittings and display equipment
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 612,976 808,727
Profit for the year 189,249 350,809


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.23 31.3.22 31.3.23 31.3.22
£    £    £    £   
Trade debtors 1,451,134 1,369,877 - -
Amounts owed by group undertakings - - - 661,773
Other debtors 1,735 - 16,431 14,395
1,452,869 1,369,877 16,431 676,168

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.23 31.3.22 31.3.23 31.3.22
£    £    £    £   
Bank loans and overdrafts 612,514 705,515 - -
Trade creditors 304,186 486,843 - 947
Amounts owed to group undertakings - - 429,730 1,114,823
Taxation and social security 711,472 1,101,310 17,859 9,266
Other creditors 1,287,448 754,523 2,599 2,299
2,915,620 3,048,191 450,188 1,127,335

Nabco Group Limited (Registered number: 06492116)

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


11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31.3.23 31.3.22
£    £   
Bank loans 253,710 415,315

12. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.3.23 31.3.22
£    £   
Bank overdraft 451,745 554,421
Bank loans 414,479 566,409
Proceeds from invoice finance 451,745 554,421
1,317,969 1,675,251

13. CONTINGENT LIABILITIES

Under the group banking arrangement, bank loans and overdrafts are secured by way of fixed and floating charges over the assets of all companies within the group. At 31 March 2023 this amounted to £1,705,838 (2022: £1,826,041).

14. ULTIMATE CONTROLLING PARTY

The controlling party is Nabco Employee Ownership Trust.