IRIS Accounts Production v24.2.0.383 04688142 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046881422022-12-31046881422023-12-31046881422023-01-012023-12-31046881422021-12-31046881422022-01-012022-12-31046881422022-12-3104688142ns15:EnglandWales2023-01-012023-12-3104688142ns14:PoundSterling2023-01-012023-12-3104688142ns10:Director12023-01-012023-12-3104688142ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104688142ns10:SmallEntities2023-01-012023-12-3104688142ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3104688142ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3104688142ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104688142ns10:FullAccounts2023-01-012023-12-310468814212023-01-012023-12-3104688142ns5:CurrentFinancialInstruments2023-12-3104688142ns5:CurrentFinancialInstruments2022-12-3104688142ns5:Non-currentFinancialInstruments2023-12-3104688142ns5:Non-currentFinancialInstruments2022-12-3104688142ns5:ShareCapital2023-12-3104688142ns5:ShareCapital2022-12-3104688142ns5:RetainedEarningsAccumulatedLosses2023-12-3104688142ns5:RetainedEarningsAccumulatedLosses2022-12-3104688142ns10:RegisteredOffice2023-01-012023-12-3104688142ns5:NetGoodwill2023-01-012023-12-3104688142ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3104688142ns5:PlantMachinery2023-01-012023-12-3104688142ns5:FurnitureFittings2023-01-012023-12-3104688142ns5:MotorVehicles2023-01-012023-12-3104688142ns5:NetGoodwill2022-12-3104688142ns5:NetGoodwill2023-12-3104688142ns5:NetGoodwill2022-12-3104688142ns5:PlantMachinery2022-12-3104688142ns5:FurnitureFittings2022-12-3104688142ns5:MotorVehicles2022-12-3104688142ns5:PlantMachinery2023-12-3104688142ns5:FurnitureFittings2023-12-3104688142ns5:MotorVehicles2023-12-3104688142ns5:PlantMachinery2022-12-3104688142ns5:FurnitureFittings2022-12-3104688142ns5:MotorVehicles2022-12-3104688142ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3104688142ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3104688142ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3104688142ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3104688142ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104688142ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104688142ns5:Secured2023-12-3104688142ns5:Secured2022-12-3104688142ns5:DeferredTaxation2022-12-3104688142ns5:DeferredTaxation2023-01-012023-12-3104688142ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 04688142 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Northern Fencing Limited

Northern Fencing Limited (Registered number: 04688142)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Northern Fencing Limited (Registered number: 04688142)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,000
Tangible assets 5 50,361 18,263
50,361 21,263

CURRENT ASSETS
Stocks 34,041 15,688
Debtors 6 192,191 213,552
226,232 229,240
CREDITORS
Amounts falling due within one year 7 212,114 205,181
NET CURRENT ASSETS 14,118 24,059
TOTAL ASSETS LESS CURRENT LIABILITIES 64,479 45,322

CREDITORS
Amounts falling due after more than one year 8 (41,170 ) (27,766 )

PROVISIONS FOR LIABILITIES 10 (12,590 ) (3,470 )
NET ASSETS 10,719 14,086

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,619 13,986
SHAREHOLDERS' FUNDS 10,719 14,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:



M B Mackey - Director


Northern Fencing Limited (Registered number: 04688142)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Northern Fencing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04688142

Registered office: Unit 17 Willan Trading Estate
Waverley Road
Sale
Cheshire
M33 7AY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

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 - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


Northern Fencing Limited (Registered number: 04688142)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 paid under operating leases are charged to profit or loss 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 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 60,000
AMORTISATION
At 1 January 2023 57,000
Amortisation for year 3,000
At 31 December 2023 60,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 3,000

Northern Fencing Limited (Registered number: 04688142)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 21,346 12,511 33,233 67,090
Additions - 345 49,422 49,767
Disposals - - (6,483 ) (6,483 )
At 31 December 2023 21,346 12,856 76,172 110,374
DEPRECIATION
At 1 January 2023 20,682 10,967 17,178 48,827
Charge for year 166 378 16,117 16,661
Eliminated on disposal - - (5,475 ) (5,475 )
At 31 December 2023 20,848 11,345 27,820 60,013
NET BOOK VALUE
At 31 December 2023 498 1,511 48,352 50,361
At 31 December 2022 664 1,544 16,055 18,263

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 13,350
Additions 49,422
At 31 December 2023 62,772
DEPRECIATION
At 1 January 2023 5,841
Charge for year 14,232
At 31 December 2023 20,073
NET BOOK VALUE
At 31 December 2023 42,699
At 31 December 2022 7,509

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 131,955 112,484
Other debtors 60,236 101,068
192,191 213,552

Northern Fencing Limited (Registered number: 04688142)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 86,980 76,294
Hire purchase contracts 9,468 2,716
Trade creditors 94,552 99,891
Taxation and social security 17,387 19,174
Other creditors 3,727 7,106
212,114 205,181

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 15,355 25,503
Hire purchase contracts 25,815 2,263
41,170 27,766

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 66,255 61,961
Bank loans 36,080 39,836
Hire purchase contracts 35,283 4,979
137,618 106,776

The hire purchase is secured over the asset to which it relates.

HSBC hold fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts, uncalled capital buildings, fixtures & fixed plant and machinery and all other monies due or becoming due from the company to the chargee on any account whatsoever.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 12,590 3,470

Deferred
tax
£   
Balance at 1 January 2023 3,470
Charge to Profit & Loss Account during year 9,120
Balance at 31 December 2023 12,590