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REGISTERED NUMBER: SC088237 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

NSB CONTRACTING LTD

NSB CONTRACTING LTD (REGISTERED NUMBER: SC088237)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NSB CONTRACTING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: N Bacon
Mrs S Bacon





SECRETARY: N Bacon





REGISTERED OFFICE: Greysteen
Strichen
Fraserburgh
Aberdeenshire
AB43 6SE





REGISTERED NUMBER: SC088237 (Scotland)

NSB CONTRACTING LTD (REGISTERED NUMBER: SC088237)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 730,607 455,969

CURRENT ASSETS
Stocks 45,695 86,000
Debtors 6 594,489 707,838
Cash at bank 271,558 85,410
911,742 879,248
CREDITORS
Amounts falling due within one year 7 869,167 682,017
NET CURRENT ASSETS 42,575 197,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

773,182

653,200

CREDITORS
Amounts falling due after more than one
year

8

(119,898

)

(216,334

)

PROVISIONS FOR LIABILITIES (136,734 ) (107,392 )
NET ASSETS 516,550 329,474

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 515,550 328,474
SHAREHOLDERS' FUNDS 516,550 329,474

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

NSB CONTRACTING LTD (REGISTERED NUMBER: SC088237)

BALANCE SHEET - continued
31 MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





N Bacon - Director


NSB CONTRACTING LTD (REGISTERED NUMBER: SC088237)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

NSB Contracting 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In arriving at this conclusion, the directors have given consideration to the global impact and adverse effects of the COVID-19 pandemic. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

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


NSB CONTRACTING LTD (REGISTERED NUMBER: SC088237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued
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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 31 ) .

NSB CONTRACTING LTD (REGISTERED NUMBER: SC088237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 28,091 799,213 827,304
Additions 160,198 249,056 409,254
Disposals - (26,387 ) (26,387 )
At 31 May 2024 188,289 1,021,882 1,210,171
DEPRECIATION
At 1 June 2023 4,381 366,954 371,335
Charge for year 2,164 127,101 129,265
Eliminated on disposal - (21,036 ) (21,036 )
At 31 May 2024 6,545 473,019 479,564
NET BOOK VALUE
At 31 May 2024 181,744 548,863 730,607
At 31 May 2023 23,710 432,259 455,969

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 299,844
Additions 58,831
Transfer to ownership (39,753 )
At 31 May 2024 318,922
DEPRECIATION
At 1 June 2023 71,386
Charge for year 56,672
Transfer to ownership (23,506 )
At 31 May 2024 104,552
NET BOOK VALUE
At 31 May 2024 214,370
At 31 May 2023 228,458

NSB CONTRACTING LTD (REGISTERED NUMBER: SC088237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 299,352 518,109
Amounts recoverable on contract 96,816 148,740
Other debtors 198,321 40,989
594,489 707,838

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,000
Hire purchase contracts (see note 9) 64,527 61,204
Trade creditors 420,145 448,427
Taxation and social security 146,224 75,178
Other creditors 238,271 87,208
869,167 682,017

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 20,011
Hire purchase contracts (see note 9) 99,556 114,956
Other creditors 20,342 81,367
119,898 216,334

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 64,527 61,204
Between one and five years 99,556 114,956
164,083 176,160

Non-cancellable operating leases
2024 2023
£    £   
Between one and five years 2,250 3,250

NSB CONTRACTING LTD (REGISTERED NUMBER: SC088237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 30,011
Other loans 81,367 142,392
Hire purchase contracts 164,083 176,160
245,450 348,563

The loan is secured by personal guarantees from the Directors.

Hire purchase liabilities are secured against the assets relating to the agreements.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
N Bacon and Mrs S Bacon
Balance outstanding at start of year - 55,675
Amounts repaid - (55,675 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan was repaid to the company post year-end.

12. ULTIMATE CONTROLLING PARTY

The controlling party is N Bacon.