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Registration number: 12258167

NGO Business Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2024

 

NGO Business Services Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 9

 

NGO Business Services Ltd

Company Information

Directors

Mr L Titterton

Ms J L Bishop

Registered office

1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

NGO Business Services Ltd

(Registration number: 12258167)
Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

746

441

Current assets

 

Debtors

5

8,929

7,795

Cash at bank and in hand

 

37,576

33,830

 

46,505

41,625

Creditors: Amounts falling due within one year

6

(13,420)

(11,930)

Net current assets

 

33,085

29,695

Total assets less current liabilities

 

33,831

30,136

Provisions for liabilities

(142)

-

Net assets

 

33,689

30,136

Capital and reserves

 

Called up share capital

7

118

100

Retained earnings - B Shares

1,430

-

Retained earnings

32,141

30,036

Shareholders' funds

 

33,689

30,136

For the financial year ending 5 April 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
Mr L Titterton
Director

   
     
 

NGO Business Services Ltd

Statement of Changes in Equity for the Year Ended 5 April 2024

Share capital
£

Retained earnings - B Shares
£

Retained earnings
£

Total
£

At 6 April 2023

100

-

30,035

30,135

Profit for the year

-

-

39,224

39,224

Other comprehensive income

-

1,430

(1,430)

-

Total comprehensive income

-

1,430

37,794

39,224

Dividends

-

-

(35,688)

(35,688)

New share capital subscribed

18

-

-

18

At 5 April 2024

118

1,430

32,141

33,689

Share capital
£

Retained earnings
£

Total
£

At 6 April 2022

100

33,419

33,519

Profit for the year

-

38,917

38,917

Dividends

-

(42,300)

(42,300)

At 5 April 2023

100

30,036

30,136

 

NGO Business Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ
United Kingdom

2

Accounting policies

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

NGO Business Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

5 Years Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

NGO Business Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

NGO Business Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 6 April 2023

751

751

Additions

628

628

At 5 April 2024

1,379

1,379

Depreciation

At 6 April 2023

310

310

Charge for the year

323

323

At 5 April 2024

633

633

Carrying amount

At 5 April 2024

746

746

At 5 April 2023

441

441

 

NGO Business Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Trade debtors

8,606

7,125

Prepayments

323

670

 

8,929

7,795

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

291

445

Trade creditors

 

3,080

19

Taxation and social security

 

10,049

11,370

Other creditors

 

-

96

 

13,420

11,930

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £0.10 each

1,000

100

1,000

100

Ordinary B Shares of £0.10 (2023 - £0) each

176

18

-

-

1,176

118

1,000

100

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Directors current account

291

445

 

NGO Business Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £35.68 (2023 - £42.30) per each Ordinary Shares

35,688

42,300

 

 

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

39,419

35,759

Contributions paid to money purchase schemes

843

696

40,262

36,455

Dividends paid to directors

2024
£

2023
£

Mr L Titterton

Interim dividends

35,688

42,300