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REGISTERED NUMBER: 04126555 (England and Wales)






















Financial Statements

for the Year Ended 29 February 2024

for

Naylor Technical Solutions Ltd.

Naylor Technical Solutions Ltd. (Registered number: 04126555)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Naylor Technical Solutions Ltd.

Company Information
for the Year Ended 29 February 2024







DIRECTORS: E G Naylor
R Hadley
J M Watkinson





SECRETARY: R Hadley





REGISTERED OFFICE: Naylor House Valley Road
Wombwell
Barnsley
S73 0BS





REGISTERED NUMBER: 04126555 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Naylor Technical Solutions Ltd. (Registered number: 04126555)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 516,510 530,758

CURRENT ASSETS
Stocks 360,941 334,060
Debtors 5 709,727 803,092
Cash at bank and in hand 739,724 997,420
1,810,392 2,134,572
CREDITORS
Amounts falling due within one year 6 1,986,889 2,130,298
NET CURRENT (LIABILITIES)/ASSETS (176,497 ) 4,274
TOTAL ASSETS LESS CURRENT
LIABILITIES

340,013

535,032

PROVISIONS FOR LIABILITIES 97,856 15,126
NET ASSETS 242,157 519,906

CAPITAL AND RESERVES
Called up share capital 112,500 112,500
Retained earnings 129,657 407,406
SHAREHOLDERS' FUNDS 242,157 519,906

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





E G Naylor - Director


Naylor Technical Solutions Ltd. (Registered number: 04126555)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Naylor Technical Solutions Ltd. is a private company, limited by shares , registered in England and Wales. 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.
Plant and machinery - 50% on cost, 33% on cost, 25% on cost, 20% on cost, 10% on cost and not provided
Office equipment - 50% on cost, 33% on cost and not provided

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Naylor Technical Solutions Ltd. (Registered number: 04126555)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 March 2023 826,649 50,556 877,205
Additions 65,535 - 65,535
Disposals (19,682 ) - (19,682 )
At 29 February 2024 872,502 50,556 923,058
DEPRECIATION
At 1 March 2023 297,622 48,825 346,447
Charge for year 59,726 1,192 60,918
Eliminated on disposal (817 ) - (817 )
At 29 February 2024 356,531 50,017 406,548
NET BOOK VALUE
At 29 February 2024 515,971 539 516,510
At 28 February 2023 529,027 1,731 530,758

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 677,856 691,060
Amounts owed by group undertakings - 7,183
Other debtors 31,871 104,849
709,727 803,092

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 243,471 115,322
Amounts owed to group undertakings 1,505,125 1,802,927
Taxation and social security 19,092 248
Other creditors 219,201 211,801
1,986,889 2,130,298

Naylor Technical Solutions Ltd. (Registered number: 04126555)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 166,749 133,124
Between one and five years 610,066 560,192
In more than five years 858,771 868,596
1,635,586 1,561,912

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Due to a limitation of scope in the period ending 28 February 2022 we were not able to verify the existence and therefore the valuation of comparative opening stock of £218,711 shown in the Company's 29 February 2024 financial statements.

Matthew Chadwick BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

10. ULTIMATE CONTROLLING PARTY

The controlling party is Naylor Specialist Plastics Limited, the registered office is Naylor House Valley Road, Wombwell, Barnsley, England, S73 0BS.

The ultimate controlling party is Naylor Industries Ltd (formally Naylor Tradeco Ltd), the registered office address is Naylor House Valley Road, Wombwell, Barnsley, England, S73 0BS.