Company Registration No. 07329857 (England and Wales)
NSG Financials Ltd
Unaudited accounts
for the year ended 31 March 2023
NSG Financials Ltd
Unaudited accounts
Contents
NSG Financials Ltd
Company Information
for the year ended 31 March 2023
Company Number
07329857 (England and Wales)
Registered Office
OLD SCHOOL HOUSE CHURCH ROAD
COLATON RALEIGH
SIDMOUTH
DEVON
EX10 0LL
Accountants
Brambillow Accounting Ltd
Brookhouse
Cranoe Road
Welham
Leicestershire
LE16 7UH
NSG Financials Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
1,444
2,480
Cash at bank and in hand
2
2
Creditors: amounts falling due within one year
(25,497)
(31,059)
Net current liabilities
(11,827)
(2,010)
Total assets less current liabilities
(10,383)
470
Creditors: amounts falling due after more than one year
(18,509)
(27,783)
Provisions for liabilities
Net liabilities
(29,166)
(27,784)
Called up share capital
100
100
Profit and loss account
(29,266)
(27,884)
Shareholders' funds
(29,166)
(27,784)
For the year ending 31 March 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 director acknowledges his 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 and authorised for issue on 23 December 2023 and were signed on its behalf by
Mr S Giles
Director
Company Registration No. 07329857
NSG Financials Ltd
Notes to the Accounts
for the year ended 31 March 2023
NSG Financials Ltd is a private company, limited by shares, registered in England and Wales, registration number 07329857. The registered office is OLD SCHOOL HOUSE CHURCH ROAD, COLATON RALEIGH, SIDMOUTH, DEVON, EX10 0LL.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
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
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
5,581
2,817
8,398
At 31 March 2023
5,581
2,817
8,398
At 1 April 2022
4,834
1,084
5,918
Charge for the year
332
704
1,036
At 31 March 2023
5,166
1,788
6,954
At 31 March 2023
415
1,029
1,444
At 31 March 2022
747
1,733
2,480
NSG Financials Ltd
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Accrued income and prepayments
5,396
1,545
Other debtors
6,905
25,938
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
15,418
21,975
Taxes and social security
5,243
5,442
7
Creditors: amounts falling due after more than one year
2023
2022
8
Transactions with related parties
Included within debtors is an amount of £6,905 which is owed to the Company by the Director (2022: £25,938 ). Interest is not currently charged on this amount and there is no fixed date for repayment.
9
Average number of employees
During the year the average number of employees was 3 (2022: 2).