Company registration number 09054962 (England and Wales)
NC CONTRACTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
NC CONTRACTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
NC CONTRACTS LIMITED (REGISTERED NUMBER: 09054962)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,788
15,717
Current assets
Debtors
4
8,355
7,296
Cash at bank and in hand
15,246
13,028
23,601
20,324
Creditors: amounts falling due within one year
5
(19,692)
(19,221)
Net current assets
3,909
1,103
Total assets less current liabilities
15,697
16,820
Creditors: amounts falling due after more than one year
6
(8,342)
(13,458)
Provisions for liabilities
(1,980)
(2,986)
Net assets
5,375
376
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
5,275
276
Total equity
5,375
376

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

NC CONTRACTS LIMITED (REGISTERED NUMBER: 09054962)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 1 August 2024
Mr N Clayden
Director
NC CONTRACTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

NC Contracts Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor (Right) Downe House, 303 High Street, Orpington, Kent, United Kingdom, BR6 0NN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NC CONTRACTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Computer equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
292
24,499
24,791
Depreciation and impairment
At 1 April 2023
270
8,804
9,074
Depreciation charged in the year
5
3,924
3,929
At 31 March 2024
275
12,728
13,003
Carrying amount
At 31 March 2024
17
11,771
11,788
At 31 March 2023
22
15,695
15,717
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
8,355
7,296
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
549
991
Taxation and social security
9,338
10,155
Other creditors
9,805
8,075
19,692
19,221
NC CONTRACTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
8,342
13,458
7
Director's transactions

As at the balance sheet date there was an overdrawn directors' loan account balance of £nil (2023: £1,562), this balance was included within other debtors.

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