Company Registration No. 04903120 (England and Wales)
North East Fasteners Limited
Unaudited accounts
for the period from 1 February 2023 to 31 July 2023
North East Fasteners Limited
Unaudited accounts
Contents
North East Fasteners Limited
Company Information
for the period from 1 February 2023 to 31 July 2023
Directors
Andrew Keith Bennett
Michael Vincent Blakey
Matthew James Kenny
Company Number
04903120 (England and Wales)
Registered Office
UNIT 16H FOLLINGSBY AVENUE
FOLLINGSBY INDUSTRIAL ESTATE
GATESHEAD
TYNE AND WEAR
NE10 8YF
ENGLAND
North East Fasteners Limited
Statement of financial position
as at 31 July 2023
Tangible assets
5,673
4,800
Cash at bank and in hand
55,900
14,154
Creditors: amounts falling due within one year
(112,112)
(42,568)
Net current assets
67,517
46,608
Called up share capital
400
400
Profit and loss account
72,790
51,008
Shareholders' funds
73,190
51,408
For the period ending 31 July 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 directors acknowledge their 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 of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by
Michael Vincent Blakey
Director
Company Registration No. 04903120
North East Fasteners Limited
Notes to the Accounts
for the period from 1 February 2023 to 31 July 2023
North East Fasteners Limited is a private company, limited by shares, registered in England and Wales, registration number 04903120. The registered office is UNIT 16H FOLLINGSBY AVENUE, FOLLINGSBY INDUSTRIAL ESTATE, GATESHEAD, TYNE AND WEAR, NE10 8YF, ENGLAND.
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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 period, 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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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:
Motor vehicles
20% on cost
Fixtures & fittings
5 years straight line
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
North East Fasteners Limited
Notes to the Accounts
for the period from 1 February 2023 to 31 July 2023
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Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2023
24,619
14,428
39,047
At 31 July 2023
24,619
15,926
40,545
At 1 February 2023
19,819
14,428
34,247
Charge for the period
600
25
625
At 31 July 2023
20,419
14,453
34,872
At 31 July 2023
4,200
1,473
5,673
At 31 January 2023
4,800
-
4,800
5
Debtors
31/07/2023
31/01/2023
Amounts falling due within one year
Trade debtors
90,860
46,143
Accrued income and prepayments
700
700
6
Creditors: amounts falling due within one year
31/07/2023
31/01/2023
Trade creditors
47,416
23,263
Amounts owed to group undertakings and other participating interests
42,194
-
Taxes and social security
10,368
4,642
Loans from directors
-
5,084
The Industrial Mandate Limited, Unit 16H Follingsby Avenue, Follingsby Industrial Estate, Gateshead, Tyne & Wear, NE10 8YF
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Average number of employees
During the period the average number of employees was 5 (31/01/2023: 7).