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REGISTERED NUMBER: 13077057 (England and Wales)


























Financial Statements

for the Year Ended 31 December 2023

for

National Cylinder Testing Ltd

National Cylinder Testing Ltd (Registered number: 13077057)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


National Cylinder Testing Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P J Mottram
J H Reilly III





REGISTERED OFFICE: Second Floor
28 Rodney Street
Liverpool
L1 2TQ





REGISTERED NUMBER: 13077057 (England and Wales)





AUDITORS: Z L Y & Co Limited
Chartered Certified Accountants
Statutory Auditors
2nd Floor
28 Rodney Street
Liverpool
L1 2TQ

National Cylinder Testing Ltd (Registered number: 13077057)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,439,159 1,592,656

CURRENT ASSETS
Stocks 10,074 2,170
Debtors 251,941 193,318
Cash at bank 57,916 79,970
319,931 275,458
CREDITORS
Amounts falling due within one year 80,059 24,188
NET CURRENT ASSETS 239,872 251,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,679,031

1,843,926

CREDITORS
Amounts falling due after more than one
year

(2,050,000

)

(2,175,083

)

PROVISIONS FOR LIABILITIES (41,783 ) -
NET LIABILITIES (412,752 ) (331,157 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (412,753 ) (331,158 )
(412,752 ) (331,157 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 May 2024 and were signed on its behalf by:





P J Mottram - Director


National Cylinder Testing Ltd (Registered number: 13077057)

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

1. STATUTORY INFORMATION

National Cylinder Testing Ltd is a private company, limited by shares , registered in England and Wales. 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.

The company has total liabilities of £412,752 (2022:£331,157) as a result of group undertaking loans. The liability is being supported by the group undertakings and will not be withdrawn until such time as the balances can be recovered. it is therefore considered appropriate to prepare these financial statements on the going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is the amount derived from the provision of goods and services, recognised at the point of despatch when the right to consideration has been earned, falling within the company's ordinary activities after deduction of trade discounts and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 20% on cost
Office equipment - 25% on cost

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

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


National Cylinder Testing Ltd (Registered number: 13077057)

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
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 9 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 1,705,670
Additions 57,208
At 31 December 2023 1,762,878
DEPRECIATION
At 1 January 2023 113,014
Charge for year 210,705
At 31 December 2023 323,719
NET BOOK VALUE
At 31 December 2023 1,439,159
At 31 December 2022 1,592,656

5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Zoe Yap Lee Chin (Senior Statutory Auditor)
for and on behalf of Z L Y & Co Limited

National Cylinder Testing Ltd (Registered number: 13077057)

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

6. SUBSEQUENT EVENTS

The directors have considered the uncertainty of the ongoing global problem due to the Covid-19 issue and are confident that any risks will be mitigated.

The directors have been closely monitoring the situations in Ukraine and Israel, even though the direct risk to the company operations and sourcing is low.

There have been no significant events affecting the company since the financial year end.

7. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of National Refrigerants Ltd, which is the ultimate controlling party.