NS Tooling Services Limited 04660165 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of tooling services Digita Accounts Production Advanced 6.30.9574.0 true 04660165 2023-04-01 2024-03-31 04660165 2024-03-31 04660165 bus:Director1 1 2024-03-31 04660165 bus:OrdinaryShareClass1 2024-03-31 04660165 core:RetainedEarningsAccumulatedLosses 2024-03-31 04660165 core:ShareCapital 2024-03-31 04660165 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 04660165 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 04660165 core:CurrentFinancialInstruments 2024-03-31 04660165 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04660165 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04660165 core:FurnitureFittingsToolsEquipment 2024-03-31 04660165 core:MotorVehicles 2024-03-31 04660165 bus:SmallEntities 2023-04-01 2024-03-31 04660165 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04660165 bus:FullAccounts 2023-04-01 2024-03-31 04660165 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04660165 bus:RegisteredOffice 2023-04-01 2024-03-31 04660165 bus:Director1 2023-04-01 2024-03-31 04660165 bus:Director1 1 2023-04-01 2024-03-31 04660165 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04660165 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04660165 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04660165 core:MotorVehicles 2023-04-01 2024-03-31 04660165 core:PlantMachinery 2023-04-01 2024-03-31 04660165 countries:England 2023-04-01 2024-03-31 04660165 2023-03-31 04660165 bus:Director1 1 2023-03-31 04660165 core:FurnitureFittingsToolsEquipment 2023-03-31 04660165 core:MotorVehicles 2023-03-31 04660165 2022-04-01 2023-03-31 04660165 2023-03-31 04660165 bus:Director1 1 2023-03-31 04660165 bus:OrdinaryShareClass1 2023-03-31 04660165 core:RetainedEarningsAccumulatedLosses 2023-03-31 04660165 core:ShareCapital 2023-03-31 04660165 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 04660165 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 04660165 core:CurrentFinancialInstruments 2023-03-31 04660165 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04660165 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 04660165 core:FurnitureFittingsToolsEquipment 2023-03-31 04660165 core:MotorVehicles 2023-03-31 04660165 bus:Director1 1 2022-04-01 2023-03-31 04660165 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04660165

NS Tooling Services Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

NS Tooling Services Limited

(Registration number: 04660165)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

263,769

304,076

Current assets

 

Stocks

24,325

4,545

Debtors

5

134,707

244,876

Cash at bank and in hand

 

118,040

145,424

 

277,072

394,845

Creditors: Amounts falling due within one year

6

(279,575)

(333,273)

Net current (liabilities)/assets

 

(2,503)

61,572

Total assets less current liabilities

 

261,266

365,648

Creditors: Amounts falling due after more than one year

6

(54,281)

(90,155)

Provisions for liabilities

(43,994)

(45,843)

Net assets

 

162,991

229,650

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

162,891

229,550

Shareholders' funds

 

162,991

229,650

 

NS Tooling Services Limited

(Registration number: 04660165)
Balance Sheet as at 31 March 2024

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 


Mr N Shipley
Director

   
 

NS Tooling Services 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 England.

The address of its registered office is:
N.S.T. House
Moorwell Business Park
Moorwell Road
Scunthorpe
North Lincolnshire
DN17 2RU

Registration number: 04660165

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.

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.

Government grants

Government grants are recognized once there is reasonable assurance that both the conditions for their receipt will be met and the grant will be received. Income-based grants are deferred in the balance sheet and released to the income statement to match the related expenditure that they are intended to compensate. Asset-based grants are deferred and matched with the depreciation on the asset for which the grant arises.

Grants that involve recognized assets are presented in the balance sheet as deferred income.

 

NS Tooling Services Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

15% on cost

Motor vehicles

25% on reducing balance

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.

 

NS Tooling Services Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

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.

 

NS Tooling Services Limited

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

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 12 (2023 - 12).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

407,308

105,302

512,610

Additions

30,878

-

30,878

At 31 March 2024

438,186

105,302

543,488

Depreciation

At 1 April 2023

167,829

40,705

208,534

Charge for the year

50,661

20,524

71,185

At 31 March 2024

218,490

61,229

279,719

Carrying amount

At 31 March 2024

219,696

44,073

263,769

At 31 March 2023

239,479

64,597

304,076

 

NS Tooling Services Limited

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

5

Debtors

2024
£

2023
£

Trade debtors

104,414

205,505

Other debtors

30,293

22,452

Social security and other taxes

-

16,919

134,707

244,876

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

38,529

42,730

Trade payables

 

209,619

258,424

Social security and other taxes

 

8,876

3,487

Other payables

 

22,551

28,632

 

279,575

333,273

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

54,281

90,155

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

38,529

42,730

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

54,281

90,155

The hire purchase contracts are secured upon the assets to which they relate.

 

NS Tooling Services Limited

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

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

NS Tooling Services Limited

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

9

Related party transactions

Advances to director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr N Shipley

Director's loan account

17,166

30,293

(17,166)

30,293

         
       

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr N Shipley

Director's loan account

24,135

17,166

(24,135)

17,166

         
       

 

The above loan is included within Other Debtors. The loan is unsecured, subject to interest at HMRC's official rate of interest and is repayable on demand.