Company Registration No. 04980164 (England and Wales)
Northern Access Floors Ltd
Unaudited accounts
for the year ended 31 December 2023
Northern Access Floors Ltd
Unaudited accounts
Contents
Northern Access Floors Ltd
Company Information
for the year ended 31 December 2023
Directors
Mr S D Robson
Mrs J H Robson
Mr N Bloye
Company Number
04980164 (England and Wales)
Registered Office
Unit 5a, Marfleet Environmental Technolo
Hedon Road
Hull
East Yorkshire
HU9 5LW
United Kingdom
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Northern Access Floors Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
276,831
217,810
Inventories
657,375
412,808
Cash at bank and in hand
143,347
14,428
Creditors: amounts falling due within one year
(685,667)
(299,948)
Net current assets
161,292
157,138
Total assets less current liabilities
438,123
374,948
Creditors: amounts falling due after more than one year
(152,195)
(165,250)
Provisions for liabilities
Deferred tax
(23,836)
(9,819)
Net assets
262,092
199,879
Called up share capital
100
100
Profit and loss account
261,992
199,779
Shareholders' funds
262,092
199,879
For the year ending 31 December 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 19 January 2024 and were signed on its behalf by
Mr S D Robson
Director
Company Registration No. 04980164
Northern Access Floors Ltd
Notes to the Accounts
for the year ended 31 December 2023
Northern Access Floors Ltd is a private company, limited by shares, registered in England and Wales, registration number 04980164. The registered office is Unit 5a, Marfleet Environmental Technolo, Hedon Road, Hull, East Yorkshire, HU9 5LW, United Kingdom.
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.
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
25% on cost
Motor vehicles
25% on reducing balance basis
Fixtures & fittings
10% on cost
Computer equipment
25% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Northern Access Floors Ltd
Notes to the Accounts
for the year ended 31 December 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
14,901
47,550
307,411
84,259
454,121
Additions
696
48,299
48,645
3,425
101,065
Disposals
-
(14,650)
-
-
(14,650)
At 31 December 2023
15,597
81,199
356,056
87,684
540,536
At 1 January 2023
14,900
40,030
98,509
82,872
236,311
Charge for the year
105
3,129
36,732
1,063
41,029
On disposals
-
(13,635)
-
-
(13,635)
At 31 December 2023
15,005
29,524
135,241
83,935
263,705
At 31 December 2023
592
51,675
220,815
3,749
276,831
At 31 December 2022
1
7,520
208,902
1,387
217,810
Raw materials
30,743
42,552
Work in progress
626,632
370,256
Northern Access Floors Ltd
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Accrued income and prepayments
7,696
5,395
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
27,000
27,000
Obligations under finance leases and hire purchase contracts
2,789
-
Trade creditors
451,552
164,995
Amounts owed to group undertakings and other participating interests
51,560
58,648
Taxes and social security
48,334
28,317
Loans from directors
50,716
-
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
13,945
-
Loans from directors
100,000
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
As at 31st December 2023 the company owed £51,560 to Sturdy (Holdings) Ltd. This sum is interest free and repayable on demand.
During the year the company paid Management Charges to Sturdy (Holdings) Ltd of £48,000 (2022: £48,000).
The company is a wholly owned subsidary of Sturdy (Holdings) Ltd, a company registered in England & Wales.
12
Average number of employees
During the year the average number of employees was 6 (2022: 6).