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Company Registration No. 08339024 (England and Wales)
NRW Financial Services Ltd Unaudited accounts for the year ended 31 December 2023
NRW Financial Services Ltd Unaudited accounts Contents
Page
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NRW Financial Services Ltd Company Information for the year ended 31 December 2023
Director
Nicholas Roger Walton
Company Number
08339024 (England and Wales)
Registered Office
20 Lockwood Gardens Hoylandswaine Sheffield South Yorkshire S36 7LN
Accountants
Foster Barlow Limited 81 Penny Meadow Ashton under Lyne Lancashire OL6 6EL
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NRW Financial Services Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
35,673 
45,998 
Current assets
Debtors
2,637 
7,309 
Cash at bank and in hand
14,000 
9,115 
16,637 
16,424 
Creditors: amounts falling due within one year
(13,349)
(10,786)
Net current assets
3,288 
5,638 
Total assets less current liabilities
38,961 
51,636 
Creditors: amounts falling due after more than one year
(38,771)
(52,339)
Net assets/(liabilities)
190 
(703)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
189 
(704)
Shareholders' funds
190 
(703)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 August 2024 and were signed on its behalf by
Nicholas Roger Walton Director Company Registration No. 08339024
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NRW Financial Services Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
NRW Financial Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 08339024. The registered office is 20 Lockwood Gardens, Hoylandswaine, Sheffield, South Yorkshire, S36 7LN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on a straight line basis
Motor vehicles
25% on reducing balance
Computer equipment
20% on reducing balance
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from the net profit as reported in the income statement because it excludes items of income and expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss. The company has taken advantage of the furlough scheme at various points during the year.
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NRW Financial Services Ltd Notes to the Accounts for the year ended 31 December 2023
Hire purchase
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
10,500 
53,490 
6,070 
70,060 
At 31 December 2023
10,500 
53,490 
6,070 
70,060 
Depreciation
At 1 January 2023
2,100 
18,387 
3,575 
24,062 
Charge for the year
1,050 
8,776 
499 
10,325 
At 31 December 2023
3,150 
27,163 
4,074 
34,387 
Net book value
At 31 December 2023
7,350 
26,327 
1,996 
35,673 
At 31 December 2022
8,400 
35,103 
2,495 
45,998 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
2,637 
7,309 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,771 
2,468 
Obligations under finance leases and hire purchase contracts
- 
5,685 
Taxes and social security
5,933 
2,048 
Other creditors
645 
585 
13,349 
10,786 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,783 
18,411 
Obligations under finance leases and hire purchase contracts
22,988 
33,928 
38,771 
52,339 
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NRW Financial Services Ltd Notes to the Accounts for the year ended 31 December 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Unsecured and interest free
7,309 
66,241 
70,913 
2,637 
7,309 
66,241 
70,913 
2,637 
The maximum overdrawn balance during the year was £2,637 (2022: £9,365) The balance was repaid subsequent to the year end date. There were no individual advances in excess of £10,000 during the year.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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