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Company Registration No. 12399402 (England and Wales)
Recovery NLR Ltd Unaudited accounts for the year ended 31 January 2024
Recovery NLR Ltd Unaudited accounts Contents
Page
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Recovery NLR Ltd Company Information for the year ended 31 January 2024
Directors
Mr E Dasdemir Ms G Durak
Company Number
12399402 (England and Wales)
Registered Office
25 Normandy House 52 Cedar Road Enfield EN2 0PE England
Accountants
DNG Associates 214 Baker Street Enfield London EN1 3JT
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Recovery NLR Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
665,292 
619,881 
Current assets
Debtors
9,000 
9,000 
Cash at bank and in hand
188,537 
108,820 
197,537 
117,820 
Creditors: amounts falling due within one year
(180,723)
(125,610)
Net current assets/(liabilities)
16,814 
(7,790)
Total assets less current liabilities
682,106 
612,091 
Creditors: amounts falling due after more than one year
(608,529)
(591,823)
Net assets
73,577 
20,268 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
73,477 
20,168 
Shareholders' funds
73,577 
20,268 
For the year ending 31 January 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 directors acknowledge their 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 of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by
Mr E Dasdemir Director Company Registration No. 12399402
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Recovery NLR Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Recovery NLR Ltd is a private company, limited by shares, registered in England and Wales, registration number 12399402. The registered office is 25 Normandy House, 52 Cedar Road, Enfield, EN2 0PE, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
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
10% - Reducing balance method
Motor vehicles
6% - Reducing balance method
Fixtures & fittings
10% - Reducing balance method
Computer equipment
10% - Reducing balance method
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Recovery NLR Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 February 2023
119,920 
546,878 
9,500 
34,838 
3,766 
714,902 
Additions
27,917 
58,000 
- 
15,742 
1,142 
102,801 
At 31 January 2024
147,837 
604,878 
9,500 
50,580 
4,908 
817,703 
Depreciation
At 1 February 2023
- 
87,064 
1,106 
5,494 
1,357 
95,021 
Charge for the year
- 
51,781 
504 
4,750 
355 
57,390 
At 31 January 2024
- 
138,845 
1,610 
10,244 
1,712 
152,411 
Net book value
At 31 January 2024
147,837 
466,033 
7,890 
40,336 
3,196 
665,292 
At 31 January 2023
119,920 
459,814 
8,394 
29,344 
2,409 
619,881 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Accrued income and prepayments
9,000 
9,000 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
272 
21,648 
Trade creditors
- 
1,242 
Taxes and social security
7,499 
371 
Other creditors
- 
102,349 
Loans from directors
172,952 
- 
180,723 
125,610 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
608,529 
591,823 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Transactions with related parties
Included within other creditors is an amount of £172,952 (2023;£102,349) due to its director. There are no terms as to interest or repayment in respect of this balance.
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Recovery NLR Ltd Notes to the Accounts for the year ended 31 January 2024
10
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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