IRIS Accounts Production v23.4.0.336 NI613127 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6131272022-06-30NI6131272023-06-30NI6131272022-07-012023-06-30NI6131272021-06-30NI6131272021-07-012022-06-30NI6131272022-06-30NI613127ns15:NorthernIreland2022-07-012023-06-30NI613127ns14:PoundSterling2022-07-012023-06-30NI613127ns10:Director12022-07-012023-06-30NI613127ns10:PrivateLimitedCompanyLtd2022-07-012023-06-30NI613127ns10:SmallEntities2022-07-012023-06-30NI613127ns10:AuditExempt-NoAccountantsReport2022-07-012023-06-30NI613127ns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-30NI613127ns10:SmallCompaniesRegimeForAccounts2022-07-012023-06-30NI613127ns10:FullAccounts2022-07-012023-06-30NI61312712022-07-012023-06-30NI613127ns10:Director22022-07-012023-06-30NI613127ns10:CompanySecretary12022-07-012023-06-30NI613127ns10:RegisteredOffice2022-07-012023-06-30NI613127ns5:CurrentFinancialInstruments2023-06-30NI613127ns5:CurrentFinancialInstruments2022-06-30NI613127ns5:Non-currentFinancialInstruments2023-06-30NI613127ns5:Non-currentFinancialInstruments2022-06-30NI613127ns5:ShareCapital2023-06-30NI613127ns5:ShareCapital2022-06-30NI613127ns5:RetainedEarningsAccumulatedLosses2023-06-30NI613127ns5:RetainedEarningsAccumulatedLosses2022-06-30NI613127ns5:NetGoodwill2022-07-012023-06-30NI613127ns5:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-30NI613127ns5:NetGoodwill2022-06-30NI613127ns5:NetGoodwill2023-06-30NI613127ns5:NetGoodwill2022-06-30NI613127ns5:FurnitureFittings2022-06-30NI613127ns5:MotorVehicles2022-06-30NI613127ns5:FurnitureFittings2022-07-012023-06-30NI613127ns5:MotorVehicles2022-07-012023-06-30NI613127ns5:FurnitureFittings2023-06-30NI613127ns5:MotorVehicles2023-06-30NI613127ns5:FurnitureFittings2022-06-30NI613127ns5:MotorVehicles2022-06-30NI613127ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-30NI613127ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-30NI613127ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-06-30NI613127ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-06-30NI613127ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-30NI613127ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-06-30
REGISTERED NUMBER: NI613127 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

N.D. Bearings & Transmissions Ltd

N.D. Bearings & Transmissions Ltd (Registered number: NI613127)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


N.D. Bearings & Transmissions Ltd

Company Information
for the year ended 30 June 2023







DIRECTORS: A Dobie
N M Dobie





SECRETARY:





REGISTERED OFFICE: Unit 34 Enterprise House
2-4 Balloo Avenue
Bangor
BT19 7QT





REGISTERED NUMBER: NI613127 (Northern Ireland)





ACCOUNTANTS: Cleaver Black
Chartered Accountants
Suite 5 Ormeau House
91-97 Ormeau Road
Belfast
Co. Antrim
BT7 1SH

N.D. Bearings & Transmissions Ltd (Registered number: NI613127)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 5,000 7,500
Tangible assets 5 - 2,085
5,000 9,585

CURRENT ASSETS
Stocks 6 282,000 250,000
Debtors 7 340,145 278,824
Cash at bank 11,421 -
633,566 528,824
CREDITORS
Amounts falling due within one year 8 (206,015 ) (186,497 )
NET CURRENT ASSETS 427,551 342,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

432,551

351,912

CREDITORS
Amounts falling due after more than one
year

9

(10,055

)

(39,607

)
NET ASSETS 422,496 312,305

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 372,496 262,305
422,496 312,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

N.D. Bearings & Transmissions Ltd (Registered number: NI613127)

Balance Sheet - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





N M Dobie - Director


N.D. Bearings & Transmissions Ltd (Registered number: NI613127)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

N.D. Bearings & Transmissions Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

N.D. Bearings & Transmissions Ltd (Registered number: NI613127)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 25,000
AMORTISATION
At 1 July 2022 17,500
Charge for year 2,500
At 30 June 2023 20,000
NET BOOK VALUE
At 30 June 2023 5,000
At 30 June 2022 7,500

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 2,713 11,375 14,088
DEPRECIATION
At 1 July 2022 2,713 9,290 12,003
Charge for year - 2,085 2,085
At 30 June 2023 2,713 11,375 14,088
NET BOOK VALUE
At 30 June 2023 - - -
At 30 June 2022 - 2,085 2,085

6. STOCKS
2023 2022
£    £   
Finished goods 282,000 250,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 339,167 267,995
VAT 978 10,829
340,145 278,824

N.D. Bearings & Transmissions Ltd (Registered number: NI613127)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 45,637 54,575
Hire purchase contracts - 2,264
Trade creditors 23,010 17,755
Tax 125,531 101,834
PAYE control 4,742 3,659
Directors' current accounts 895 210
Accrued expenses 6,200 6,200
206,015 186,497

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loan 1-2 years 10,055 14,690
Loan 2-5 years - 24,917
10,055 39,607