17 JULY 2024 | |||||||||
NGB STRUCTURAL LTD | |||||||||
Registered in England & Wales No. 14147061 | |||||||||
FILLETED FINANCIAL ACCOUNTS | |||||||||
FOR THE PERIOD | |||||||||
1 JULY 2023 TO 30 JUNE 2024 | |||||||||
ACCOUNTING POLICIES | |||||||||
Accounting convention | |||||||||
Non-current assets | |||||||||
Property, plant and equipment, excluding any property held for investment, is stated at cost except for any revaluation of land and buildings, less aggregate depreciation and any provision for impairment. With the exception of freehold land, depreciation is charged after allowance for residual value, over the remaining useful economic life by equal annual instalments. The economic life used is for acquisition as new, the deemed life for assets acquired second hand is the remainder or half of the deemed life from new, whichever is the greater. | |||||||||
Deferred taxation | |||||||||
Provision is made for at the appropriate or current tax rate in respect of any possible liability due to timing differences between recognition of events for taxation and accounting purposes. Recognition of any possible asset due to timing differences as above is only recognised to the extent that recovery is reasonably certain. | |||||||||
Revenue | |||||||||
Revenue represents income in respect of goods or services possession of which has passed to customers in the normal course of activity, and for which those customers have become liable during the period. It is stated net of any tax that is passed on to, or offset against amounts due from, taxing authorities. | |||||||||
Repairs and renewals | |||||||||
Expenditure of up to £1000 on an item, excluding items treated as part of a project over £1000, is written off in the period it is incurred even if it represented an addition or improvement. | |||||||||
FINANCIAL POSITION | |||||||||
As at 30 June | 2024 | 2023 | |||||||
Notes | £ | £ | |||||||
Non-current assets | |||||||||
Productive property, plant and equipment | 2 | ||||||||
Transport equipment | 3 | ||||||||
Deferred receivables | 4 | 0 | 318 | ||||||
11,359 | 17,357 | ||||||||
Current assets | |||||||||
Trade and other receivables | 5 | ||||||||
Cash and cash equivalents | 6 | ||||||||
27,916 | 33,274 | ||||||||
Current liabilities | |||||||||
Due not later than one year | |||||||||
Trade and other payables | 7 | ( |
( |
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Taxation | 8 | ( |
( |
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Borrowings subject to notice | ( |
( |
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Other financial liabilities | 9 | ( |
( |
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Net current liabilities | (4,368) | (5,684) | |||||||
Non-current liabilities | |||||||||
Due later than one and not later than five years | 10 | (17,429) | (3,237) | ||||||
(10,438) | 8,436 | ||||||||
Equity | |||||||||
Share capital | 11 | 100 | 100 | ||||||
Accumulated reserves/(deficits) | (10,538) | 8,336 | |||||||
(10,438) | 8,436 | ||||||||
The company is registered in England & Wales under no. 14147061 and is subject to the Companies Act 2006 in its various sections. | |||||||||
Approved and authorised for issue by the board on |
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N G Barbour | |||||||||
Director | |||||||||
NOTES TO THE FILLETED ACCOUNTS | |||||||||
2024 | 2023 | ||||||||
£ | £ | ||||||||
1 | Accounting Policies | ||||||||
The accounting policies are set out in full in a preceding statement. | |||||||||
2 | Productive property comprises plant and equipment | ||||||||
Cost or valuation | |||||||||
Opening amount | 2,719 | 0 | |||||||
Additions | 0 | 2,719 | |||||||
Closing amount | |||||||||
Amortisation | |||||||||
Opening amount | 680 | 0 | |||||||
Charge for the period | 680 | 680 | |||||||
Closing amount | |||||||||
Net amounts | |||||||||
Opening amount | 2,039 | 0 | |||||||
Closing amount | 1,359 | 2,039 | |||||||
3 | Transport equipment | ||||||||
Life in years is 4 | |||||||||
Cost or valuation | |||||||||
Opening amount | 20,417 | 0 | |||||||
Additions | 0 | 20,417 | |||||||
Closing amount | 20,417 | 20,417 | |||||||
Amortisation | |||||||||
Opening amount | 5,417 | 0 | |||||||
Charge for the period | 5,000 | 5,417 | |||||||
Closing amount | 10,417 | 5,417 | |||||||
Net amount | |||||||||
Opening amount | 15,000 | 0 | |||||||
Closing amount | 10,000 | 15,000 | |||||||
4 | Deferred receivables | ||||||||
Due after one but before six years | |||||||||
Prepayments | 0 | 318 | |||||||
5 | Trade and other receivables | ||||||||
Trade receivables | 1,440 | 1,905 | |||||||
Prepayments | 5,778 | 4,518 | |||||||
Amounts due from director | 1,542 | 64 | |||||||
8,760 | 6,487 | ||||||||
6 | Cash and cash equivalents | ||||||||
Bank current account | 19,156 | 26,787 | |||||||
7 | Current trade and other payables | ||||||||
Trade payables | (8) | (15) | |||||||
Accruals | (1,875) | (1,875) | |||||||
(1,883) | (1,890) | ||||||||
8 | Current taxation | ||||||||
Taxation collected | (7,244) | (7,435) | |||||||
Corporation tax | (8,012) | (1,781) | |||||||
(15,256) | (9,216) | ||||||||
9 | Other financial liabilities due not later than one year | ||||||||
Deferred income | 0 | (525) | |||||||
Due to owners | (10,357) | (3,256) | |||||||
(10,357) | (3,781) | ||||||||
10 | Liabilities due later than one but not later than five years | ||||||||
Deferred tax | (2,158) | (3,237) | |||||||
Borrowings | (15,271) | 0 | |||||||
(17,429) | (3,237) | ||||||||
11 | Share capital | ||||||||
The company is a private company limited by share capital | |||||||||
2024 | 2023 | ||||||||
Number | Number | ||||||||
Equity ordinary shares of £1 each | |||||||||
Ordinary | |||||||||
Allotted, called up and fully paid | 100 | 100 | 100 | 100 | |||||
12 | Ultimate control | ||||||||
The company is controlled by the director. | |||||||||
13 | Commitments | ||||||||
Capital expenditure | |||||||||
There are no capital commitments. | |||||||||
14 | Related party transactions | ||||||||
Key management personnel | |||||||||
Directors and their relationships | |||||||||
Transactions during the period | |||||||||
Remuneration | |||||||||
Dividends | |||||||||
Directors | 36,480 | 15,200 | |||||||
Family member | 11,520 | 4,800 | |||||||
Remuneration of family members | 22,600 | 11,000 | |||||||
Purchase of services from the following | |||||||||
Use of home as office | Mrs G M Barbour | 10,357 | 3,280 | ||||||
15 | Activity | ||||||||
The principal activity continues to be that of structural engineering. | |||||||||
16 | Employees (including directors) | ||||||||
2024 | 2023 | ||||||||
Average during the period | Number | Number | |||||||
ADMINISTRATION AND ADVISERS | |||||||||
Bankers | HSBC UK Bank PLC | ||||||||
Accountants and registrar | Cramptons 25A St Matthews Road Torquay TQ2 6JA |
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Office | 107 Shiphay Lane Torquay TQ2 7BX Great Britain |