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
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
Recovery NLR Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
665,292
619,881
Cash at bank and in hand
188,537
108,820
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)
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
Recovery NLR Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
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.
The accounts are presented in £ sterling.
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
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.
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
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
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
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
Taxes and social security
7,499
371
Loans from directors
172,952
-
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
608,529
591,823
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.
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).