Company Registration No. 09891301 (England and Wales)
Nationwide Accident Hire Limited
Unaudited accounts
for the year ended 30 November 2023
Nationwide Accident Hire Limited
Unaudited accounts
Contents
Nationwide Accident Hire Limited
Company Information
for the year ended 30 November 2023
Company Number
09891301 (England and Wales)
Registered Office
109 EASTHAM VILLAGE ROAD
EASTHAM
WIRRAL
CH62 0AF
UNITED KINGDOM
Accountants
KLAS ACCOUNTANTS LTD
Eastham Hall
109, Eastham Village Road
Eastham
Wirral
CH62 0AF
Nationwide Accident Hire Limited
Statement of financial position
as at 30 November 2023
Tangible assets
502,330
285,279
Inventories
818,601
578,163
Cash at bank and in hand
157,723
65,306
Creditors: amounts falling due within one year
(1,007,245)
(618,156)
Net current assets
314,299
283,479
Total assets less current liabilities
816,629
568,758
Creditors: amounts falling due after more than one year
(136,105)
(36,681)
Provisions for liabilities
Other provisions
(143,800)
(143,800)
Net assets
536,724
388,277
Called up share capital
100
100
Profit and loss account
536,624
388,177
Shareholders' funds
536,724
388,277
For the year ending 30 November 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 9 January 2024 and were signed on its behalf by
Chris Sharples
Director
Company Registration No. 09891301
Nationwide Accident Hire Limited
Notes to the Accounts
for the year ended 30 November 2023
Nationwide Accident Hire Limited is a private company, limited by shares, registered in England and Wales, registration number 09891301. The registered office is 109 EASTHAM VILLAGE ROAD, EASTHAM, WIRRAL, CH62 0AF, UNITED KINGDOM.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
15% Straight Line
Computer equipment
15% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
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.
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.
Nationwide Accident Hire Limited
Notes to the Accounts
for the year ended 30 November 2023
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2022
332,066
58,682
390,748
Additions
393,326
19,525
412,851
Disposals
(150,792)
-
(150,792)
At 30 November 2023
574,600
78,207
652,807
At 1 December 2022
90,638
14,831
105,469
Charge for the year
106,829
6,813
113,642
On disposals
(68,634)
-
(68,634)
At 30 November 2023
128,833
21,644
150,477
At 30 November 2023
445,767
56,563
502,330
At 30 November 2022
241,428
43,851
285,279
Amounts falling due within one year
Trade debtors
142,013
62,039
Amounts due from group undertakings etc.
190,597
196,127
Nationwide Accident Hire Limited
Notes to the Accounts
for the year ended 30 November 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
6,986
-
Obligations under finance leases and hire purchase contracts
45,999
34,345
Trade creditors
475,674
209,604
Amounts owed to group undertakings and other participating interests
80,880
-
Taxes and social security
285,841
327,629
Other creditors
1,982
1,516
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Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
115,146
-
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Average number of employees
During the year the average number of employees was 12 (2022: 12).