IRIS Accounts Production v24.2.0.383 SC516952 director 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5169522023-03-31SC5169522024-03-31SC5169522023-04-012024-03-31SC5169522022-03-31SC5169522022-04-012023-03-31SC5169522023-03-31SC516952ns15:Scotland2023-04-012024-03-31SC516952ns14:PoundSterling2023-04-012024-03-31SC516952ns10:Director12023-04-012024-03-31SC516952ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC516952ns10:SmallEntities2023-04-012024-03-31SC516952ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC516952ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC516952ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC516952ns10:FullAccounts2023-04-012024-03-31SC516952ns10:OrdinaryShareClass12023-04-012024-03-31SC516952ns10:RegisteredOffice2023-04-012024-03-31SC516952ns5:CurrentFinancialInstruments2024-03-31SC516952ns5:CurrentFinancialInstruments2023-03-31SC516952ns5:ShareCapital2024-03-31SC516952ns5:ShareCapital2023-03-31SC516952ns5:RetainedEarningsAccumulatedLosses2024-03-31SC516952ns5:RetainedEarningsAccumulatedLosses2023-03-31SC516952ns5:FurnitureFittings2023-04-012024-03-31SC516952ns5:LandBuildings2023-03-31SC516952ns5:FurnitureFittings2023-03-31SC516952ns5:LandBuildings2023-04-012024-03-31SC516952ns5:LandBuildings2024-03-31SC516952ns5:FurnitureFittings2024-03-31SC516952ns5:LandBuildings2023-03-31SC516952ns5:FurnitureFittings2023-03-31SC516952ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC516952ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC516952ns5:DeferredTaxation2023-03-31SC516952ns5:DeferredTaxation2023-04-012024-03-31SC516952ns5:DeferredTaxation2024-03-31SC516952ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: SC516952 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

NWD Developments Ltd

NWD Developments Ltd (Registered number: SC516952)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NWD Developments Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Ian J McDermott





REGISTERED OFFICE: 20 Croftcroighn Road
Glasgow
G33 3SE





REGISTERED NUMBER: SC516952 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

NWD Developments Ltd (Registered number: SC516952)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 418,872 368,949

CURRENT ASSETS
Debtors 5 550 550
Cash at bank 17,084 5,465
17,634 6,015
CREDITORS
Amounts falling due within one year 6 410,205 348,283
NET CURRENT LIABILITIES (392,571 ) (342,268 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,301

26,681

PROVISIONS FOR LIABILITIES 7 869 1,022
NET ASSETS 25,432 25,659

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 25,332 25,559
SHAREHOLDERS' FUNDS 25,432 25,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year 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.

NWD Developments Ltd (Registered number: SC516952)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





Ian J McDermott - Director


NWD Developments Ltd (Registered number: SC516952)

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

1. STATUTORY INFORMATION

NWD Developments Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings and equipment - 15% on reducing balance

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

NWD Developments Ltd (Registered number: SC516952)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fittings
Heritable and
property equipment Totals
£    £    £   
COST
At 1 April 2023 363,569 12,927 376,496
Additions 50,730 - 50,730
At 31 March 2024 414,299 12,927 427,226
DEPRECIATION
At 1 April 2023 - 7,547 7,547
Charge for year - 807 807
At 31 March 2024 - 8,354 8,354
NET BOOK VALUE
At 31 March 2024 414,299 4,573 418,872
At 31 March 2023 363,569 5,380 368,949

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 550 550

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 209,254 217,731
Taxation and social security 100 1,743
Other creditors 200,851 128,809
410,205 348,283

NWD Developments Ltd (Registered number: SC516952)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 869 1,022

Deferred
tax
£   
Balance at 1 April 2023 1,022
Provided during year (153 )
Balance at 31 March 2024 869

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Ian McDermott.