Company Registration No. 05392463 (England and Wales)
North West Tints Limited
Unaudited accounts
for the year ended 31 March 2024
North West Tints Limited
Unaudited accounts
Contents
North West Tints Limited
Company Information
for the year ended 31 March 2024
Company Number
05392463 (England and Wales)
Registered Office
61 Plodder Lane
Farnworth
BL4 0BX
Accountants
Daniel Sam Limited
61 Plodder Lane
Farnworth
Bolton
BL4 0BX
North West Tints Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,486
1,858
Cash at bank and in hand
24,548
27,363
Creditors: amounts falling due within one year
(10,779)
(11,906)
Net current assets
19,944
18,479
Total assets less current liabilities
21,430
20,337
Provisions for liabilities
Called up share capital
10
10
Profit and loss account
21,324
20,201
Shareholders' funds
21,334
20,211
For the 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. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 September 2024 and were signed on its behalf by
D Roberts
Director
Company Registration No. 05392463
North West Tints Limited
Notes to the Accounts
for the year ended 31 March 2024
North West Tints Limited is a private company, limited by shares, registered in England and Wales, registration number 05392463. The registered office is 61 Plodder Lane, Farnworth, BL4 0BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Computer equipment
20% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
North West Tints Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
13,795
5,832
19,627
At 31 March 2024
13,795
5,832
19,627
At 1 April 2023
13,160
4,609
17,769
Charge for the year
127
245
372
At 31 March 2024
13,287
4,854
18,141
At 31 March 2024
508
978
1,486
At 31 March 2023
635
1,223
1,858
Amounts falling due within one year
Accrued income and prepayments
255
272
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,224
1,347
Loans from directors
9,405
10,228
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Average number of employees
During the year the average number of employees was 1 (2023: 1).