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REGISTERED NUMBER: SC692614 (Scotland)











































NTB Groundworks Ltd

Unaudited Financial Statements

for the Year Ended 31st March 2024






NTB Groundworks Ltd (Registered number: SC692614)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


NTB Groundworks Ltd

Company Information
for the year ended 31st March 2024







Directors: Miss W Watson
J Kelly





Registered office: Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL





Business address: 55 Hartrigge Crescent
Jedburgh
Roxburghshire
TD8 6HT





Registered number: SC692614 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

NTB Groundworks Ltd (Registered number: SC692614)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 24,555 7,832

Current assets
Stocks - 4,372
Debtors 5 35,086 35,876
Cash at bank 8,555 -
43,641 40,248
Creditors
Amounts falling due within one year 6 59,423 31,483
Net current (liabilities)/assets (15,782 ) 8,765
Total assets less current liabilities 8,773 16,597

Creditors
Amounts falling due after more than one
year

7

(8,965

)

-

Provisions for liabilities (885 ) (1,488 )
Net (liabilities)/assets (1,077 ) 15,109

Capital and reserves
Called up share capital 100 100
Retained earnings (1,177 ) 15,009
(1,077 ) 15,109

NTB Groundworks Ltd (Registered number: SC692614)

Balance Sheet - continued
31st March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd September 2024 and were signed on its behalf by:




Miss W Watson - Director



J Kelly - Director


NTB Groundworks Ltd (Registered number: SC692614)

Notes to the Financial Statements
for the year ended 31st March 2024

1. Statutory information

NTB Groundworks Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - bank overdrafts, trade debtors, hire purchase contracts, trade creditors, accruals and directors' loans.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, accruals, bank overdrafts and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

NTB Groundworks Ltd (Registered number: SC692614)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

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.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The continued trading of the company is dependent on the future support of the directors through their loan accounts. The directors have made a commitment not to seek repayment of the loans within the foreseeable future and the accounts have therefore been prepared on the going concern basis.

3. Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

4. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1st April 2023 3,788 6,250 10,038
Additions - 19,495 19,495
At 31st March 2024 3,788 25,745 29,533
Depreciation
At 1st April 2023 1,580 626 2,206
Charge for year 554 2,218 2,772
At 31st March 2024 2,134 2,844 4,978
Net book value
At 31st March 2024 1,654 22,901 24,555
At 31st March 2023 2,208 5,624 7,832

NTB Groundworks Ltd (Registered number: SC692614)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 10,320 5,372
Other debtors 24,766 30,504
35,086 35,876

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts - 146
Hire purchase contracts 4,091 -
Trade creditors 3,150 1,964
Taxation and social security 49,092 27,373
Other creditors 3,090 2,000
59,423 31,483

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 8,965 -

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 13,056 -

Hire purchase contracts are secured against the assets to which they relate.

9. Directors advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2024:
2024 2023
Director 1 £ £
Balance outstanding at start of period 14,231 1,392
Amounts advanced - 32,907
Amounts repaid (14,231 ) (20,068 )
Balance outstanding at end of period - 14,231

Director 2
Balance outstanding at start of period - -
Amounts advanced 50,483 -
Amounts repaid (36,690 ) -
Balance outstanding at end of period 13,793 -

These loans are unsecured and are repayable on demand. Interest has been charged at the official rates published by HMRC.