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COMPANY REGISTRATION NUMBER: 14124723
Nee Formwork Solutions Ltd
Filleted Unaudited Abridged Financial Statements
31 May 2023
Nee Formwork Solutions Ltd
Abridged Financial Statements
Period from 23 May 2022 to 31 May 2023
Contents
Pages
Officers and professional advisers
1
Abridged statement of financial position
2 to 3
Notes to the abridged financial statements
4 to 6
Nee Formwork Solutions Ltd
Officers and Professional Advisers
The board of directors
Mr E J Nee
Miss E I Willmott
Registered office
59 Jekils Bank
Holbeach
Spalding
Lincs
England
PE12 8RF
Accountants
SR Howell & Co
Chartered Certified Accountants
88 High Street
Ramsey
Huntingdon
Cambs
PE26 1BS
Nee Formwork Solutions Ltd
Abridged Statement of Financial Position
31 May 2023
31 May 23
Note
£
Fixed assets
Tangible assets
5
19,632
Current assets
Debtors
25,643
Cash at bank and in hand
4,023
--------
29,666
Creditors: amounts falling due within one year
6,158
--------
Net current assets
23,508
--------
Total assets less current liabilities
43,140
Creditors: amounts falling due after more than one year
17,382
--------
Net assets
25,758
--------
Capital and reserves
Called up share capital
1
Profit and loss account
25,757
--------
Shareholders funds
25,758
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Nee Formwork Solutions Ltd
Abridged Statement of Financial Position (continued)
31 May 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 19 February 2024 , and are signed on behalf of the board by:
Mr E J Nee
Director
Company registration number: 14124723
Nee Formwork Solutions Ltd
Notes to the Abridged Financial Statements
Period from 23 May 2022 to 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 59 Jekils Bank, Holbeach, Spalding, Lincs, PE12 8RF, England.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 .
5. Tangible assets
£
Cost
At 23 May 2022
Additions
21,417
--------
At 31 May 2023
21,417
--------
Depreciation
At 23 May 2022
Charge for the period
1,785
--------
At 31 May 2023
1,785
--------
Carrying amount
At 31 May 2023
19,632
--------
6. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
31 May 23
£
Not later than 1 year
4,781
Later than 1 year and not later than 5 years
17,529
--------
22,310
--------