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NGS CORPORATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






NGS CORPORATE LIMITED (REGISTERED NUMBER: 10039555)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NGS CORPORATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: N P Brown





REGISTERED OFFICE: 1 Woburn House
Vernon Gate
Derby
Derbyshire
DE1 1UL





REGISTERED NUMBER: 10039555 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

NGS CORPORATE LIMITED (REGISTERED NUMBER: 10039555)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,099 1,859

CURRENT ASSETS
Debtors 5 485,784 347,578
Cash at bank and in hand 37,380 32,244
523,164 379,822
CREDITORS
Amounts falling due within one year 6 484,425 323,410
NET CURRENT ASSETS 38,739 56,412
TOTAL ASSETS LESS CURRENT LIABILITIES 42,838 58,271

CREDITORS
Amounts falling due after more than one year 7 (32,236 ) (38,170 )

PROVISIONS FOR LIABILITIES 9 (800 ) (400 )
NET ASSETS 9,802 19,701

CAPITAL AND RESERVES
Called up share capital 10 102 102
Retained earnings 9,700 19,599
SHAREHOLDERS' FUNDS 9,802 19,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NGS CORPORATE LIMITED (REGISTERED NUMBER: 10039555)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 25 September 2024 and were signed by:





N P Brown - Director


NGS CORPORATE LIMITED (REGISTERED NUMBER: 10039555)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

NGS Corporate Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

NGS CORPORATE LIMITED (REGISTERED NUMBER: 10039555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 1,371 3,459 4,830
Additions - 2,822 2,822
At 31 December 2023 1,371 6,281 7,652
DEPRECIATION
At 1 January 2023 1,030 1,941 2,971
Charge for year 85 497 582
At 31 December 2023 1,115 2,438 3,553
NET BOOK VALUE
At 31 December 2023 256 3,843 4,099
At 31 December 2022 341 1,518 1,859

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 485,397 347,272
Other debtors 387 306
485,784 347,578

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 273,010 137,571
Trade creditors 30,785 30,459
Taxation and social security 154,494 128,224
Other creditors 26,136 27,156
484,425 323,410

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 32,236 38,170

NGS CORPORATE LIMITED (REGISTERED NUMBER: 10039555)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,236 14,170

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 11,500 11,500
Between one and five years 5,750 17,250
17,250 28,750

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 800 400

Deferred
tax
£   
Balance at 1 January 2023 400
Provided during year 400
Balance at 31 December 2023 800

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
102 102