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Registration number: 00660519

N.Armstrong Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

N.Armstrong Limited

(Registration number: 00660519)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

1,536

2,845

Current assets

 

Stocks

31,876

33,391

Debtors

4

127,146

176,417

Cash at bank and in hand

 

90,470

130,777

 

249,492

340,585

Creditors: Amounts falling due within one year

5

(120,357)

(185,981)

Net current assets

 

129,135

154,604

Net assets

 

130,671

157,449

Capital and reserves

 

Called up share capital

6

3,000

3,000

Profit and loss account

127,671

154,449

Shareholders' funds

 

130,671

157,449

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 6 August 2024 and signed on its behalf by:
 

.........................................

C J Armstrong

Director

 

N.Armstrong Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Statutory information

N.Armstrong Limited is a private company, limited by shares, domiciled in England and Wales, company number 00660519. The registered office is at 867-869 Gleadless Road, Sheffield, S12 2LG.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A Small Entities. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling. The financial statements are those of the company as an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Revenue is recognised on an accruals basis following delivery of services under contracts, with counter sales recognised at the point of sale.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

N.Armstrong Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, less any estimated residual values, over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Plant, machinery and other assets

25% straight line

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 11).

 

N.Armstrong Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Tangible assets

Plant, machinery and other assets
£

Cost

At 1 April 2023

9,120

At 31 March 2024

9,120

Depreciation

At 1 April 2023

6,275

Charge for the year

1,309

At 31 March 2024

7,584

Carrying amount

At 31 March 2024

1,536

At 31 March 2023

2,845

4

Debtors

2024
£

2023
£

Trade debtors

95,719

124,489

Other debtors

28,677

48,451

Prepayments

2,750

3,477

127,146

176,417

 

N.Armstrong Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

108,002

117,566

Taxation and social security

6,059

10,636

Other creditors

-

51,724

Accruals and deferred income

6,296

6,055

120,357

185,981

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2,700

2,700

2,700

2,700

Ordinary A shares of £1 each

300

300

300

300

 

3,000

3,000

3,000

3,000

7

Financial commitments, guarantees and contingencies

As at the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining term of those leases of £233,207 (2023 - £222,000).

8

Related party transactions

During the year the directors had an interest free loan account with the company. At the balance sheet date the amount owed to the company was £nil (2023: £30,000).