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
The financial statements within the annual report have been prepared on the going concern basis and are in compliance with section 1A of the financial reporting standard 102 applicable in the United Kingdom.
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 1,359 2,039
Transport equipment 3 10,000 15,000
Deferred receivables 4 0 318
11,359 17,357
Current assets
Trade and other receivables 5 8,760 6,487
Cash and cash equivalents 6 19,156 26,787
27,916 33,274
Current liabilities
Due not later than one year
Trade and other payables 7 (1,883) (1,890)
Taxation 8 (15,256) (9,216)
Borrowings subject to notice (4,788) (24,071)
Other financial liabilities 9 (10,357) (3,781)
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.
The directors acknowledge their responsibilities under section 386 of the Act for the maintenance of adequate accounting records and under section 394 of the Act for the preparation of financial statements.
For the period to 30 June 2024, the date of this financial position statement, the company qualified as small under section 382 of the Act. Members have not required the company to obtain an audit of its financial statements under section 476 of the Act.
The company is entitled, as a small company, to exemption under section 477 of the Companies Act 2006 from the statutory requirement for audited financial statements.
In conformity with section 444 of the Act, the form of these accounts delivered to the registrar of companies; in accordance with the provisions applicable to companies subject to the small companies regime, may be prepared by the removal of any reports, statements of movements in equity, income and expenses, and cash flows; but this filleted form delivers, as a minimum, the statements of accounting policies, financial position and notes thereto.
Approved and authorised for issue by the board on 17 July 2024 and signed on its behalf.
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 2,719 2,719
Amortisation
Opening amount 680 0
Charge for the period 680 680
Closing amount 1,360 680
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 21,000 26,000
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
3 2
ADMINISTRATION AND ADVISERS
Bankers HSBC UK Bank PLC
Accountants and registrar Cramptons
25A St Matthews Road
Torquay
TQ2 6JA
Office 107 Shiphay Lane
Torquay
TQ2 7BX
Great Britain
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