Registered number
06468433
NGROUP UK LTD
Report and Accounts
31 January 2024
NGROUP UK LTD
Registered number: 06468433
Director's Report
The director presents his report and accounts for the year ended 31 January 2024.
Principal activities
The company's principal activity during the year continued to be that of construction services.
Directors
The following persons served as directors during the year:
M. BERTULE
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 10 October 2024 and signed on its behalf.
M. BERTULE
Director
NGROUP UK LTD
Profit and Loss Account
for the year ended 31 January 2024
2024 2023
£ £
Turnover 355,788 419,250
Cost of sales (319,142) (370,039)
Gross profit 36,646 49,211
Administrative expenses (24,400) (58,166)
Operating profit/(loss) 12,246 (8,955)
Loss on the disposal of tangible fixed assets (23,673) -
Loss before taxation (11,427) (8,955)
Tax on loss - -
Loss for the financial year (11,427) (8,955)
NGROUP UK LTD
Registered number: 06468433
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 25,673
Current assets
Debtors 4 1,385 (69,247)
Cash at bank and in hand 241 449
1,626 (68,798)
Creditors: amounts falling due within one year 5 22,017 55,601
Net current assets/(liabilities) 23,643 (13,197)
Total assets less current liabilities 23,643 12,476
Creditors: amounts falling due after more than one year 6 (22,594) -
Net assets 1,049 12,476
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,047 12,474
Shareholder's funds 1,049 12,476
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M. BERTULE
Director
Approved by the board on 10 October 2024
NGROUP UK LTD
Statement of Changes in Equity
for the year ended 31 January 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 February 2022 2 - - 21,429 21,431
Loss for the financial year (8,955) (8,955)
At 31 January 2023 2 - - 12,474 12,476
At 1 February 2023 2 - - 12,474 12,476
Loss for the financial year (11,427) (11,427)
At 31 January 2024 2 - - 1,047 1,049
NGROUP UK LTD
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 February 2023 54,563
Disposals (54,563)
At 31 January 2024 -
Depreciation
At 1 February 2023 28,890
On disposals (28,890)
At 31 January 2024 -
Net book value
At 31 January 2024 -
At 31 January 2023 25,673
4 Debtors 2024 2023
£ £
Trade debtors - (2,066)
Other debtors 1,385 (67,181)
1,385 (69,247)
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 953 953
Taxation and social security costs (310) (706)
Other creditors (22,660) (55,848)
(22,017) (55,601)
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,594 -
7 Other information
NGROUP UK LTD is a private company limited by shares and incorporated in England. Its registered office is:
37 Barnaby Terrace
Rochester
Kent
ME1 2LL
NGROUP UK LTD
Detailed profit and loss account
for the year ended 31 January 2024
This schedule does not form part of the statutory accounts
2024 2023
£ £
Sales 355,788 419,250
Cost of sales (319,142) (370,039)
Gross profit 36,646 49,211
Administrative expenses (24,400) (58,166)
Operating profit/(loss) 12,246 (8,955)
Loss on the disposal of tangible fixed assets (23,673) -
Loss before tax (11,427) (8,955)
NGROUP UK LTD
Detailed profit and loss account
for the year ended 31 January 2024
This schedule does not form part of the statutory accounts
2024 2023
£ £
Sales
Sales 355,788 419,250
Cost of sales
Purchases 9,532 19,625
Subcontractor costs 309,610 350,414
319,142 370,039
Administrative expenses
Employee costs:
Wages and salaries 6,822 13,539
Directors' salaries 6,822 9,054
Staff training and welfare 150 950
Travel and subsistence 784 4,099
Motor expenses 343 4,171
14,921 31,813
General administrative expenses:
Telephone and internet 1,976 2,596
Stationery and printing - 500
Subscriptions 4,621 3,955
Bank charges 92 101
Insurance 1,264 1,153
Depreciation - 2,289
Bad debts - 12,360
Sundry expenses 266 825
8,219 23,779
Legal and professional costs:
Accountancy fees 1,260 1,540
Other legal and professional - 1,034
1,260 2,574
24,400 58,166
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