Registered number
09921279
NORFOLK COAST CONSTRUCTION LTD
Unaudited Filleted Accounts
31 December 2023
NORFOLK COAST CONSTRUCTION LTD
Registered number: 09921279
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,920 13,418
Current assets
Debtors 4 34,814 466
Cash at bank and in hand 182,188 100,194
217,002 100,660
Creditors: amounts falling due within one year 5 (81,603) (62,766)
Net current assets 135,399 37,894
Total assets less current liabilities 147,319 51,312
Creditors: amounts falling due after more than one year 6 (200) (4,130)
Provisions for liabilities (2,980) (2,549)
Net assets 144,139 44,633
Capital and reserves
Called up share capital 10 10
Profit and loss account 144,129 44,623
Shareholders' funds 144,139 44,633
Average number of employees 2 2
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Garramone
Director
Approved by the board on 12 September 2024
NORFOLK COAST CONSTRUCTION LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 11,837 19,200 31,037
Additions 1,482 - 1,482
At 31 December 2023 13,319 19,200 32,519
Depreciation
At 1 January 2023 7,325 10,294 17,619
Charge for the year 1,199 1,781 2,980
At 31 December 2023 8,524 12,075 20,599
Net book value
At 31 December 2023 4,795 7,125 11,920
At 31 December 2022 4,512 8,906 13,418
4 Debtors 2023 2022
£ £
Trade debtors 34,814 466
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,253 7,779
Corporation tax 42,010 14,140
Other taxes and social security costs 34,457 39,996
Other creditors 883 851
81,603 62,766
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 3,417
Other creditors 200 713
200 4,130
7 Controlling party
Mr D Garramone and Ms C Mandy control the company due to their 50% shareholding each
8 Other information
NORFOLK COAST CONSTRUCTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
Forest Cottage
Littlewood lane
Swanton Novers
Norfolk
NR24 2RE
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