2023-03-012024-02-282024-02-28false08786285NWDF 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NWDF Ltd

Registered Number
08786285
(England and Wales)

Unaudited Financial Statements for the Period ended
28 February 2024

NWDF Ltd
Company Information
for the period from 1 March 2023 to 28 February 2024

Directors

P A Ashton
M Towler

Registered Address

Unit 10 Boston Court
Boston Court
Salford
M50 2GN

Registered Number

08786285 (England and Wales)
NWDF Ltd
Balance Sheet as at
28 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3273,415285,516
Investment property4350,000350,000
623,415635,516
Current assets
Debtors5646,720495,498
Cash at bank and on hand674,849761,542
1,321,5691,257,040
Creditors amounts falling due within one year6(531,767)(491,632)
Net current assets (liabilities)789,802765,408
Total assets less current liabilities1,413,2171,400,924
Creditors amounts falling due after one year7(29,188)(37,857)
Net assets1,384,0291,363,067
Capital and reserves
Called up share capital1,150852
Other reserves22,93322,933
Profit and loss account1,359,9461,339,282
Shareholders' funds91,384,0291,363,067
The financial statements were approved and authorised for issue by the Board of Directors on 19 July 2024, and are signed on its behalf by:
P A Ashton
Director
Registered Company No. 08786285
NWDF Ltd
Notes to the Financial Statements
for the period ended 28 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery15-
Vehicles25-
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other 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.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year7066
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 March 23167,80213,714219,465400,981
Additions-1,56032,16433,724
Disposals--(22,500)(22,500)
At 28 February 24167,80215,274229,129412,205
Depreciation and impairment
At 01 March 2332,8396,65175,975115,465
Charge for year-1,29435,38436,678
On disposals--(13,353)(13,353)
At 28 February 2432,8397,94598,006138,790
Net book value
At 28 February 24134,9637,329131,123273,415
At 28 February 23134,9637,063143,490285,516
4.Investment property

£
Fair value at 01 March 23350,000
At 28 February 24350,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables527,850490,655
Other debtors115,7253,336
Prepayments and accrued income3,1451,507
Total646,720495,498
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables52,02446,037
Bank borrowings and overdrafts10,00010,000
Taxation and social security213,731195,373
Finance lease and HP contracts26,47228,297
Other creditors219,307206,113
Accrued liabilities and deferred income10,2335,812
Total531,767491,632
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,16719,167
Other creditors20,02118,690
Total29,18837,857
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts20,02118,690
9.Fair value reserve

£
Fair value reserve at 01 March 2322,683
At 28 February 2422,683