2023-04-012024-03-312024-03-31false10088725NUTMEG BUILDING SERVICES 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NUTMEG BUILDING SERVICES LIMITED

Registered Number
10088725
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

NUTMEG BUILDING SERVICES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

FINLEY, Nicholas Matthew

Registered Address

Unit 10 School Street Trading Estate
Hazel Grove
Stockport
SK7 4RA

Registered Number

10088725 (England and Wales)
NUTMEG BUILDING SERVICES LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,4621,970
1,4621,970
Current assets
Stocks45,7995,799
Debtors30,63550,629
Cash at bank and on hand25,94318,325
62,37774,753
Creditors amounts falling due within one year5(57,153)(57,365)
Net current assets (liabilities)5,22417,388
Total assets less current liabilities6,68619,358
Creditors amounts falling due after one year6(61,668)(70,650)
Net assets(54,982)(51,292)
Capital and reserves
Called up share capital11
Profit and loss account(54,983)(51,293)
Shareholders' funds(54,982)(51,292)
The financial statements were approved and authorised for issue by the Director on 17 June 2024, and are signed on its behalf by:
FINLEY, Nicholas Matthew
Director
Registered Company No. 10088725
NUTMEG BUILDING SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 232,88720,0001,13124,018
At 31 March 242,88720,0001,13124,018
Depreciation and impairment
At 01 April 231,57120,00047722,048
Charge for year368-140508
At 31 March 241,93920,00061722,556
Net book value
At 31 March 24948-5141,462
At 31 March 231,316-6541,970
4.Stocks

2024

2023

££
Other stocks5,7995,799
Total5,7995,799
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables19,60023,885
Bank borrowings and overdrafts14,23811,587
Taxation and social security23,28820,267
Accrued liabilities and deferred income271,626
Total57,15357,365
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts61,66870,650
Total61,66870,650