0 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07945921 2022-07-01 2023-06-30 07945921 2023-06-30 07945921 2022-06-30 07945921 2021-07-01 2022-06-30 07945921 2022-06-30 07945921 2021-06-30 07945921 core:FurnitureFittings 2022-07-01 2023-06-30 07945921 core:MotorVehicles 2022-07-01 2023-06-30 07945921 bus:Director1 2022-07-01 2023-06-30 07945921 core:FurnitureFittings 2022-06-30 07945921 core:MotorVehicles 2022-06-30 07945921 core:FurnitureFittings 2023-06-30 07945921 core:MotorVehicles 2023-06-30 07945921 core:AfterOneYear 2023-06-30 07945921 core:AfterOneYear 2022-06-30 07945921 core:WithinOneYear 2023-06-30 07945921 core:WithinOneYear 2022-06-30 07945921 core:ShareCapital 2023-06-30 07945921 core:ShareCapital 2022-06-30 07945921 core:RetainedEarningsAccumulatedLosses 2023-06-30 07945921 core:RetainedEarningsAccumulatedLosses 2022-06-30 07945921 core:FurnitureFittings 2022-06-30 07945921 core:MotorVehicles 2022-06-30 07945921 bus:Director1 2022-06-30 07945921 bus:Director1 2023-06-30 07945921 bus:Director1 2021-06-30 07945921 bus:Director1 2022-06-30 07945921 bus:Director1 2021-07-01 2022-06-30 07945921 bus:SmallEntities 2022-07-01 2023-06-30 07945921 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07945921 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 07945921 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07945921 bus:FullAccounts 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 07945921
NTL Enterprises Limited
Filleted Unaudited Financial Statements
30 June 2023
NTL Enterprises Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
6,088
7,150
Current assets
Stocks
6,938
5,783
Debtors
5
111,293
114,743
Cash at bank and in hand
2,143
3,415
---------
---------
120,374
123,941
Creditors: amounts falling due within one year
6
113,764
116,673
---------
---------
Net current assets
6,610
7,268
--------
--------
Total assets less current liabilities
12,698
14,418
Creditors: amounts falling due after more than one year
7
12,100
13,849
--------
--------
Net assets
598
569
--------
--------
Capital and reserves
Called up share capital
200
200
Profit and loss account
398
369
----
----
Shareholders funds
598
569
----
----
These 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 statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year 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 financial statements .
NTL Enterprises Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 24 April 2024 , and are signed on behalf of the board by:
N Lazenbury Esq
Director
Company registration number: 07945921
NTL Enterprises Limited
Notes to the Financial Statements
Year ended 30 June 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 TML House, 1a The Anchorage, Gosport, PO12 1LY, Hampshire.
2. Statement of compliance
These 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 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 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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
20 % 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2022
2,251
150
15,001
17,402
Additions
426
828
1,254
Disposals
( 594)
( 1,310)
( 1,904)
-------
----
--------
--------
At 30 June 2023
2,083
150
14,519
16,752
-------
----
--------
--------
Depreciation
At 1 July 2022
1,287
100
8,865
10,252
Charge for the year
163
13
1,331
1,507
Disposals
( 424)
( 671)
( 1,095)
-------
----
--------
--------
At 30 June 2023
1,026
113
9,525
10,664
-------
----
--------
--------
Carrying amount
At 30 June 2023
1,057
37
4,994
6,088
-------
----
--------
--------
At 30 June 2022
964
50
6,136
7,150
-------
----
--------
--------
5. Debtors
2023
2022
£
£
Trade debtors
29,900
33,350
Other debtors
81,393
81,393
---------
---------
111,293
114,743
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
14,234
11,381
Other creditors
99,530
105,292
---------
---------
113,764
116,673
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
12,100
13,849
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
N Lazenbury Esq
( 6,238)
5,345
( 893)
-------
-------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
N Lazenbury Esq
( 55,700)
49,462
( 6,238)
--------
--------
-------
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2023
2022
2023
2022
£
£
£
£
Trevor Michael Lazenbury Limited
(45,000)
( 85,000)
( 85,000)
BRO UK Limited
(266)
(12,965)
( 12,786)
( 12,520)
Nathan Trevor Lazenbury Limited
5,393
81,393
81,393
----
--------
--------
--------
Trevor Michael Lazenbury Limited and BRO UK Limited are companies under the control of the director's father. Canterfield Limited is a company under the control of the director's mother. Nathan Trevor Lazenbury Limited is a company under the control of the director.