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REGISTERED NUMBER: 03679823 (England and Wales)






N.G.F. Industrial Doors Limited

Financial Statements

for the Year Ended 30 November 2023






N.G.F. Industrial Doors Limited (Registered number: 03679823)

Contents of the Financial Statements
for the year ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


N.G.F. Industrial Doors Limited

Company Information
for the year ended 30 November 2023







DIRECTORS: Mr N G Furby
Mrs S E Furby





SECRETARY: Mrs S E Furby





REGISTERED OFFICE: Unit 11
Allerton Bywater Network Centre
Letchmire Road
Allerton Bywater
West Yorkshire
WF10 2DB





REGISTERED NUMBER: 03679823 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

N.G.F. Industrial Doors Limited (Registered number: 03679823)

Balance Sheet
30 November 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 103,490 99,228
103,490 99,228

CURRENT ASSETS
Stocks 92,914 99,183
Debtors 6 263,868 220,609
Cash at bank and in hand 8,329 9,182
365,111 328,974
CREDITORS
Amounts falling due within one year 7 298,309 284,168
NET CURRENT ASSETS 66,802 44,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,292

144,034

CREDITORS
Amounts falling due after more than one year 8 (23,333 ) (35,993 )

PROVISIONS FOR LIABILITIES (25,109 ) (18,235 )
NET ASSETS 121,850 89,806

N.G.F. Industrial Doors Limited (Registered number: 03679823)

Balance Sheet - continued
30 November 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 121,750 89,706
SHAREHOLDERS' FUNDS 121,850 89,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 29 August 2024 and were signed on its behalf by:





Mrs S E Furby - Director


N.G.F. Industrial Doors Limited (Registered number: 03679823)

Notes to the Financial Statements
for the year ended 30 November 2023


1. STATUTORY INFORMATION

N.G.F. Industrial Doors Limited 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been fully amortised evenly over its estimated useful life of ten years.

Website development is being amortised evenly over its useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on cost and 25% on reducing balance
Office equipment - 25% on reducing balance

All fixed assets are initially recorded at cost.

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 has elected to apply the provision of Section 11 "Basic Financial Information" and Section 12 "Other Financial Issues" of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


N.G.F. Industrial Doors Limited (Registered number: 03679823)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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 16 (2022 - 15 ) .

N.G.F. Industrial Doors Limited (Registered number: 03679823)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


4. INTANGIBLE FIXED ASSETS
Website
Goodwill development Totals
£ £ £
COST
At 1 December 2022
and 30 November 2023 74,009 7,850 81,859
AMORTISATION
At 1 December 2022
and 30 November 2023 74,009 7,850 81,859
NET BOOK VALUE
At 30 November 2023 - - -
At 30 November 2022 - - -

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 December 2022 70,006 231,095 41,312 342,413
Additions 5,499 37,135 2,728 45,362
Disposals (1,373 ) - (708 ) (2,081 )
At 30 November 2023 74,132 268,230 43,332 385,694
DEPRECIATION
At 1 December 2022 44,968 173,409 24,808 243,185
Charge for year 3,653 31,566 4,580 39,799
Eliminated on disposal (229 ) - (551 ) (780 )
At 30 November 2023 48,392 204,975 28,837 282,204
NET BOOK VALUE
At 30 November 2023 25,740 63,255 14,495 103,490
At 30 November 2022 25,038 57,686 16,504 99,228

N.G.F. Industrial Doors Limited (Registered number: 03679823)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Office
vehicles equipment Totals
£ £ £
COST
At 1 December 2022 45,000 17,514 62,514
Transfer to ownership (20,000 ) (17,514 ) (37,514 )
At 30 November 2023 25,000 - 25,000
DEPRECIATION
At 1 December 2022 25,454 8,894 34,348
Charge for year 11,250 2,155 13,405
Transfer to ownership (20,000 ) (11,049 ) (31,049 )
At 30 November 2023 16,704 - 16,704
NET BOOK VALUE
At 30 November 2023 8,296 - 8,296
At 30 November 2022 19,546 8,620 28,166

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 236,512 179,088
Amounts owed by related undertakings - 14,899
Other debtors - 8,831
Prepayments and accrued income 27,356 17,791
263,868 220,609

N.G.F. Industrial Doors Limited (Registered number: 03679823)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 8,333 8,333
Hire purchase contracts (see note 9) 3,472 10,519
Trade creditors 118,199 122,735
Amounts owed to related undertakings 5,046 84
Tax 59,071 48,633
Social security and other taxes 11,965 9,647
VAT 38,263 39,596
Other creditors 32,053 3,978
Directors' current accounts 14,372 37,702
Accruals and deferred income 7,535 2,941
298,309 284,168

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 13,333 23,333
Hire purchase contracts (see note 9) - 2,660
23,333 35,993

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 3,472 10,519
Between one and five years - 2,660
3,472 13,179

Non-cancellable
operating leases
2023 2022
£ £
Within one year 37,682 24,772
Between one and five years 90,436 1,337
128,118 26,109

N.G.F. Industrial Doors Limited (Registered number: 03679823)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 3,472 13,179

Factoring obligations are secured by way of a fixed and floating charge over all the company's property, fixed assets and book debts.

Obligations under hire purchase are secured against the asset to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100