Northern Boiler Systems Limited NI623426 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is plumbing, heat and air-conditioning installation Digita Accounts Production Advanced 6.30.9574.0 true true NI623426 2023-04-01 2024-03-31 NI623426 2024-03-31 NI623426 bus:OrdinaryShareClass1 2024-03-31 NI623426 bus:OrdinaryShareClass2 2024-03-31 NI623426 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 NI623426 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 NI623426 core:CurrentFinancialInstruments 2024-03-31 NI623426 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI623426 core:Non-currentFinancialInstruments 2024-03-31 NI623426 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI623426 core:FurnitureFittingsToolsEquipment 2024-03-31 NI623426 core:MotorVehicles 2024-03-31 NI623426 core:OtherPropertyPlantEquipment 2024-03-31 NI623426 bus:SmallEntities 2023-04-01 2024-03-31 NI623426 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI623426 bus:FilletedAccounts 2023-04-01 2024-03-31 NI623426 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI623426 bus:RegisteredOffice 2023-04-01 2024-03-31 NI623426 bus:Director1 2023-04-01 2024-03-31 NI623426 bus:Director2 2023-04-01 2024-03-31 NI623426 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 NI623426 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 NI623426 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI623426 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI623426 core:MotorVehicles 2023-04-01 2024-03-31 NI623426 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 NI623426 countries:NorthernIreland 2023-04-01 2024-03-31 NI623426 2023-03-31 NI623426 core:FurnitureFittingsToolsEquipment 2023-03-31 NI623426 core:MotorVehicles 2023-03-31 NI623426 core:OtherPropertyPlantEquipment 2023-03-31 NI623426 2022-04-01 2023-03-31 NI623426 2023-03-31 NI623426 bus:OrdinaryShareClass1 2023-03-31 NI623426 bus:OrdinaryShareClass2 2023-03-31 NI623426 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 NI623426 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 NI623426 core:CurrentFinancialInstruments 2023-03-31 NI623426 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI623426 core:Non-currentFinancialInstruments 2023-03-31 NI623426 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI623426 core:FurnitureFittingsToolsEquipment 2023-03-31 NI623426 core:MotorVehicles 2023-03-31 NI623426 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI623426

Northern Boiler Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Northern Boiler Systems Limited

(Registration number: NI623426)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

32,938

25,168

Current assets

 

Stocks

5

5,000

30,000

Debtors

6

29,546

59,584

Cash at bank and in hand

 

15,734

15,551

 

50,280

105,135

Creditors: Amounts falling due within one year

7

(59,686)

(98,823)

Net current (liabilities)/assets

 

(9,406)

6,312

Total assets less current liabilities

 

23,532

31,480

Creditors: Amounts falling due after more than one year

7

(20,647)

(30,356)

Net assets

 

2,885

1,124

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

2,875

1,114

Shareholders' funds

 

2,885

1,124

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Northern Boiler Systems Limited

(Registration number: NI623426)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Mr Raymond Hamilton
Director

.........................................
Mrs Christina Hamilton
Director

 

Northern Boiler Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 28a Disertowen Road, Newbuildings, Londonderry, BT47 3UN.

These financial statements were authorised for issue by the Board on 30 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Northern Boiler Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Northern Boiler Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Northern Boiler Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

4,225

19,840

34,521

58,586

Additions

-

-

15,000

15,000

At 31 March 2024

4,225

19,840

49,521

73,586

Depreciation

At 1 April 2023

3,132

13,364

16,922

33,418

Charge for the year

197

1,165

5,868

7,230

At 31 March 2024

3,329

14,529

22,790

40,648

Carrying amount

At 31 March 2024

896

5,311

26,731

32,938

At 31 March 2023

1,093

6,476

17,599

25,168

5

Stocks

2024
£

2023
£

Work in progress

-

25,000

Other inventories

5,000

5,000

5,000

30,000

6

Debtors

2024
£

2023
£

Trade debtors

-

906

Prepayments

2,005

1,268

Other debtors

27,541

57,410

29,546

59,584

 

Northern Boiler Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

12,913

29,094

Trade creditors

 

1,282

500

Taxation and social security

 

14,581

50,299

Accruals and deferred income

 

9,050

18,930

Other creditors

 

21,860

-

 

59,686

98,823

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

5

5

5

5

Ordinary B of £1 each

5

5

5

5

10

10

10

10

 

Northern Boiler Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

15,846

22,336

HP and finance lease liability

4,801

8,020

20,647

30,356

2024
£

2023
£

Current loans and borrowings

Bank borrowings

9,694

26,203

HP and finance lease liability

3,219

2,891

12,913

29,094

10

Related party transactions

Included in other (creditors)/debtors is the following;

2023
£

2023
 £

Directors current account

(21,860)

35,326