Registered number
04839618
N R Groundworks Limited
Filleted Accounts
31 March 2024
N R Groundworks Limited
Registered number: 04839618
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 562,833 433,085
Current assets
Stocks 9,950 13,200
Debtors 4 593,089 567,982
Cash at bank and in hand 187,412 359,336
790,451 940,518
Creditors: amounts falling due within one year 5 (210,227) (199,162)
Net current assets 580,224 741,356
Total assets less current liabilities 1,143,057 1,174,441
Creditors: amounts falling due after more than one year 6 (39,595) (48,834)
Provisions for liabilities (29,581) (21,814)
Net assets 1,073,881 1,103,793
Capital and reserves
Called up share capital 10 10
Profit and loss account 1,073,871 1,103,783
Shareholders' funds 1,073,881 1,103,793
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N P Roberts
Director
Approved by the board on 29 July 2024
N R Groundworks Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 20% reducing balance
Office equipment 50% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 - 887,722 245,552 1,133,274
Additions 117,288 102,500 30,500 250,288
Disposals - (42,000) (36,000) (78,000)
At 31 March 2024 117,288 948,222 240,052 1,305,562
Depreciation
At 1 April 2023 - 562,004 138,185 700,189
Charge for the year - 77,637 30,655 108,292
On disposals - (34,195) (31,557) (65,752)
At 31 March 2024 - 605,446 137,283 742,729
Net book value
At 31 March 2024 117,288 342,776 102,769 562,833
At 31 March 2023 - 325,718 107,367 433,085
4 Debtors 2024 2023
£ £
Trade debtors 330,493 244,495
Director's loan 29,524 29,524
Other debtors 233,072 293,963
593,089 567,982
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 45,863 42,833
Trade creditors 155,396 150,182
Director's loan 262 262
Taxation and social security costs 6,234 3,300
Other creditors 2,472 2,585
210,227 199,162
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 39,595 48,834
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
N P Roberts
Interest free loan 29,524 - - 29,524
29,524 - - 29,524
8 Related party transactions
Interest free loan from related party 262 262
Director's remuneration 48,424 88,914
Dividends paid to related party 59,553 68,026
N R Plant Hire Limited
Company under common control
Hire of equipment 55,888 76,418
Rent charged to party 7,505 7,013
Loan to related party 100,000 133,200
Amount due to related party 7,232 16,420
9 Controlling party
The company's controlling party was Mr N P Roberts and his wife Mrs J Roberts, who owned 100% of the issued share capital.
10 Other information
N R Groundworks Limited is a private company limited by shares and incorporated in England. Its registered office is:
28 Thrapston Road
Woodford
Kettering
Northamptonshire
NN14 4HY
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