BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of asphalt contractors. 30 July 2024 0 0 06490473 2024-02-28 06490473 2023-02-28 06490473 2022-02-28 06490473 2023-03-01 2024-02-28 06490473 2022-03-01 2023-02-28 06490473 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 06490473 uk-curr:PoundSterling 2023-03-01 2024-02-28 06490473 uk-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 06490473 uk-bus:FullAccounts 2023-03-01 2024-02-28 06490473 uk-core:ShareCapital 2024-02-28 06490473 uk-core:ShareCapital 2023-02-28 06490473 uk-core:RetainedEarningsAccumulatedLosses 2024-02-28 06490473 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 06490473 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-02-28 06490473 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 06490473 uk-bus:FRS102 2023-03-01 2024-02-28 06490473 uk-core:Goodwill 2023-03-01 2024-02-28 06490473 uk-core:PlantMachinery 2023-03-01 2024-02-28 06490473 uk-core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-28 06490473 uk-core:MotorVehicles 2023-03-01 2024-02-28 06490473 uk-core:Goodwill 2023-02-28 06490473 uk-core:Goodwill 2024-02-28 06490473 uk-core:CurrentFinancialInstruments 2024-02-28 06490473 uk-core:CurrentFinancialInstruments 2023-02-28 06490473 uk-core:WithinOneYear 2024-02-28 06490473 uk-core:WithinOneYear 2023-02-28 06490473 uk-core:OtherMiscellaneousReserve 2023-02-28 06490473 uk-core:OtherMiscellaneousReserve 2023-03-01 2024-02-28 06490473 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-02-28 06490473 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-02-28 06490473 uk-core:OtherDeferredTax 2024-02-28 06490473 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-02-28 06490473 uk-core:OtherMiscellaneousReserve 2024-02-28 06490473 2023-03-01 2024-02-28 06490473 uk-bus:CompanySecretary1 2023-03-01 2024-02-28 06490473 uk-bus:Director1 2023-03-01 2024-02-28 06490473 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
Company Registration Number: 06490473
 
 
Neville Godfrey Limited
 
Unaudited Financial Statements
 
for the financial period ended 28 February 2024
Neville Godfrey Limited
Company Registration Number: 06490473
BALANCE SHEET
as at 28 February 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 6 - 7,168
Tangible assets 7 36,012 24,254
───────── ─────────
Fixed Assets 36,012 31,422
───────── ─────────
 
Current Assets
Stocks 8 750 750
Debtors 9 54,697 80,006
Cash at bank and in hand 30,315 41,585
───────── ─────────
85,762 122,341
───────── ─────────
Creditors: amounts falling due within one year 10 (31,728) (40,121)
───────── ─────────
Net Current Assets 54,034 82,220
───────── ─────────
Total Assets less Current Liabilities 90,046 113,642
 
Provisions for liabilities 12 (6,842) (5,093)
───────── ─────────
Net Assets 83,204 108,549
═════════ ═════════
 
Capital and Reserves
Called up share capital 150 150
Retained earnings 83,054 108,399
───────── ─────────
Shareholders' Funds 83,204 108,549
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial period ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 30 July 2024 and signed on its behalf by
           
           
           
________________________________          
L M Godfrey          
Director          
           



Neville Godfrey Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial period ended 28 February 2024

   
1. General Information
 
Neville Godfrey Limited is a company limited by shares incorporated in the United Kingdom. 36-38 King Street, King's Lynn, Norfolk, PE301ES, England is the registered office. The principal place of business is 4 Lavender Road, King's Lynn, Norfolk, PE30 4HA.The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 28 February 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of sales made by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Reducing balance
  Fixtures, fittings and equipment - 15% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
   
3. Period of financial statements
 
The financial statements are for the 11 month 28 days period ended 28 February 2024.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial period was 5, (2023 - 5).
       
5. Dividends 2024 2023
  £ £
Dividends on equity shares:
 
Ordinary Shares - Interim paid 51,750 51,000
  ═════════ ═════════
 
Since the year end dividends totalling £8,750 have been paid.
     
6. Intangible assets
   
  Goodwill
  £
Cost
At 1 March 2023 102,400
  ─────────
 
At 28 February 2024 102,400
  ─────────
Amortisation
At 1 March 2023 95,232
Charge for financial period 7,168
  ─────────
At 28 February 2024 102,400
  ─────────
Net book value
At 28 February 2024 -
  ═════════
At 28 February 2023 7,168
  ═════════
           
7. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 March 2023 29,212 1,704 63,091 94,007
Additions - 349 16,795 17,144
Disposals - - (17,400) (17,400)
  ───────── ───────── ───────── ─────────
At 28 February 2024 29,212 2,053 62,486 93,751
  ───────── ───────── ───────── ─────────
Depreciation
At 1 March 2023 18,120 725 50,908 69,753
Charge for the financial period 1,664 151 3,391 5,206
On disposals - - (17,220) (17,220)
  ───────── ───────── ───────── ─────────
At 28 February 2024 19,784 876 37,079 57,739
  ───────── ───────── ───────── ─────────
Net book value
At 28 February 2024 9,428 1,177 25,407 36,012
  ═════════ ═════════ ═════════ ═════════
At 28 February 2023 11,092 979 12,183 24,254
  ═════════ ═════════ ═════════ ═════════
       
8. Stocks 2024 2023
  £ £
 
Raw materials 750 750
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
9. Debtors 2024 2023
  £ £
 
Trade debtors 47,231 71,967
Directors' current accounts (Note 14) - 1,712
Prepayments and accrued income 7,466 6,327
  ───────── ─────────
  54,697 80,006
  ═════════ ═════════
 
Trade debtors includes amounts due for contracts not billed at the year end of £2,480 (2023 £850).
       
10. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 8,516 9,952
Taxation  (Note 11) 7,888 23,986
Directors' current accounts 12,144 3,148
Accruals 3,180 3,035
  ───────── ─────────
  31,728 40,121
  ═════════ ═════════
       
11. Taxation 2024 2023
  £ £
 
Creditors:
VAT 1,002 3,295
Corporation tax 5,564 19,237
PAYE / NI 1,322 1,454
  ───────── ─────────
  7,888 23,986
  ═════════ ═════════
       
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total
  allowances  
     
  2024 2023
  £ £
 
At financial period start 5,093 5,442
Charged to profit and loss 1,749 (349)
  ───────── ─────────
At financial period end 6,842 5,093
  ═════════ ═════════
           
13. Related party transactions
 
During the year dividends totalling £51,750 were paid to the directors.
   
14. Directors' advances, credits and guarantees
 
The director's loan was repaid on 31 May 2023.
   
15. Controlling interest
 
The company is under the control of Mrs L M Godfrey, a director and the majority shareholder.