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Registered Number: SC379260
Scotland

 

 

 

NCD GROUP LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Director Paul Murray
Registered Number SC379260
Registered Office Unit 24 Faraday Road
Glenrothes
Scotland
KY6 2RU
1
  2023   2022
    £ £   £ £
Fixed assets   73,386      62,727 
Current assets 154,669      183,659   
Creditors: amount falling due within one year (68,685)     (156,877)  
Net current assets   85,984      26,782 
Total assets less current liabilities   159,370      89,509 
Creditors: amount falling due after more than one year   (140,305)     (76,333)
Accruals and deferred income   (16,132)     (12,625)
Net assets   2,933      551 
 

         
Capital and reserves   2,933      551 
 
NOTES TO THE ACCOUNTS

General Information
NCD Group Limited is a private company, limited by shares, registered in Scotland, registration number SC379260, registration address Unit 24 Faraday Road, Glenrothes, Scotland, KY6 2RU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 June 2022 19,712    144,559    245    1,611    166,127 
Additions 3,127    32,891    1,491    316    37,825 
Disposals   (19,200)       (19,200)
At 31 May 2023 22,839    158,250    1,736    1,927    184,752 
Depreciation
At 01 June 2022 17,666    85,519    54    161    103,400 
Charge for year 815    19,382    158    376    20,731 
On disposals   (12,765)       (12,765)
At 31 May 2023 18,481    92,136    212    537    111,366 
Net book values
Closing balance as at 31 May 2023 4,358    66,114    1,524    1,390    73,386 
Opening balance as at 01 June 2022 2,046    59,040    191    1,450    62,727 


3.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 15 February 2024 and were signed by:


--------------------------------
Paul Murray
Director
2