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Registered number: 04462437
Niven Truck Bodies Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Positive Practice
C/O Positive Practice
1 Primet Hill
Colne
Lancashire
BB8 9NF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04462437
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 613 410
Investments 5 15,000 15,000
15,613 15,410
CURRENT ASSETS
Stocks 6 2,750 52,337
Debtors 7 6,242 6,275
Cash at bank and in hand 43,251 52,307
52,243 110,919
Creditors: Amounts Falling Due Within One Year 8 (29,686 ) (59,886 )
NET CURRENT ASSETS (LIABILITIES) 22,557 51,033
TOTAL ASSETS LESS CURRENT LIABILITIES 38,170 66,443
Creditors: Amounts Falling Due After More Than One Year 9 (35,648 ) (41,204 )
NET ASSETS 2,522 25,239
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 2,521 25,238
SHAREHOLDERS' FUNDS 2,522 25,239
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Niven Whiteoak
Director
10/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Niven Truck Bodies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04462437 . The registered office is Sandrock, Avenue Road , Hurst Green, Clitheroe, Lancsashire, BB7 9QB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 - 2,667 1,891 4,558
Additions 699 - - 699
As at 31 December 2023 699 2,667 1,891 5,257
Depreciation
As at 1 January 2023 - 2,548 1,600 4,148
Provided during the period 175 30 291 496
As at 31 December 2023 175 2,578 1,891 4,644
Net Book Value
As at 31 December 2023 524 89 - 613
As at 1 January 2023 - 119 291 410
5. Investments
Unlisted
£
Cost
As at 1 January 2023 15,000
As at 31 December 2023 15,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 15,000
As at 1 January 2023 15,000
6. Stocks
2023 2022
£ £
Stock 2,750 52,337
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,800 4,800
Prepayments and accrued income 400 400
VAT - 396
Director's loan account 2,043 680
Called up share capital not paid (1 ) (1 )
6,242 6,275
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,290 30,590
VAT 30 -
Accruals and deferred income - 930
Directors Loan Acc 28,366 28,366
29,686 59,886
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 35,648 41,204
10. Share Capital
2023 2022
£ £
Called Up Share Capital not Paid (1 ) (1 )
Called Up Share Capital has been paid up 2 2
Amount of Allotted, Called Up Share Capital 1 1
Page 5