REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Nabco Sales Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Nabco Sales Limited |
Nabco Sales Limited (Registered number: 06029752) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Nabco Sales Limited |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
22 Wessex Park |
Bancombe Business Estate |
Somerton |
Somerset |
TA11 6SB |
Nabco Sales Limited (Registered number: 06029752) |
Abridged Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 Sales Limited (Registered number: 06029752) |
Abridged Balance Sheet - continued |
31 March 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 |
Nabco Sales Limited (Registered number: 06029752) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Nabco Sales Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company'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 the creditors due in less than one year. |
Government grants |
Government grants are recognised in the profit and loss based on the accrual model. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Nabco Sales Limited (Registered number: 06029752) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
4. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.3.22 |
£ | £ |
Proceeds from invoice finance | 20,699 | 29,358 |
Proceeds from invoice finance are secured by the way of a charge over trade debtors of the the company. |
5. | CONTINGENT LIABILITIES |
Under the group banking arrangement, bank loans and overdrafts are secured by way of a fixed and floating charges over the assets of all companies within the group. At 31 March 2023 this amounted to £1,705,838 (2022:£1,862,041). |