NLCS Calibration Ltd 14673155 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is calibration services. Digita Accounts Production Advanced 6.30.9574.0 true true 14673155 2023-04-01 2024-03-31 14673155 2024-03-31 14673155 core:CurrentFinancialInstruments 2024-03-31 14673155 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14673155 core:Goodwill 2024-03-31 14673155 core:OfficeEquipment 2024-03-31 14673155 core:PlantMachinery 2024-03-31 14673155 bus:SmallEntities 2023-04-01 2024-03-31 14673155 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14673155 bus:FilletedAccounts 2023-04-01 2024-03-31 14673155 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14673155 bus:RegisteredOffice 2023-04-01 2024-03-31 14673155 bus:Director1 2023-04-01 2024-03-31 14673155 bus:Director2 2023-04-01 2024-03-31 14673155 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14673155 core:Goodwill 2023-04-01 2024-03-31 14673155 core:OfficeEquipment 2023-04-01 2024-03-31 14673155 core:PlantMachinery 2023-04-01 2024-03-31 14673155 countries:EnglandWales 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 14673155

NLCS Calibration Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

NLCS Calibration Ltd

Contents

Statement of Comprehensive Income

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

NLCS Calibration Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2024

Note

2024
£

Turnover

 

118,587

Cost of sales

 

(20,302)

Gross profit

 

98,285

Administrative expenses

 

(63,846)

Operating profit

 

34,439

Profit before tax

34,439

Tax on profit

 

(7,712)

Profit for the financial year

 

26,727

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

NLCS Calibration Ltd

(Registration number: 14673155)
Statement of Financial Position as at 31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

10,800

Tangible assets

5

4,123

 

14,923

Current assets

 

Debtors

6

26,265

Cash at bank and in hand

 

30,262

 

56,527

Creditors: Amounts falling due within one year

7

(45,840)

Net current assets

 

10,687

Total assets less current liabilities

 

25,610

Provisions for liabilities

(783)

Net assets

 

24,827

Capital and reserves

 

Called up share capital

100

Profit and loss account

24,727

Shareholders' funds

 

24,827

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 14 October 2024 and signed on its behalf by:
 

 

NLCS Calibration Ltd

(Registration number: 14673155)
Statement of Financial Position as at 31 March 2024 (continued)


Mrs H Lee
Director


Mr N Lee
Director

 

NLCS Calibration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Castle Street
Bridgwater
Somerset
TA6 3DT

Principal activity

The principal activity of the company is calibration services.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

NLCS Calibration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Office equipment

15% reducing balance

 

NLCS Calibration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10'% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

NLCS Calibration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2.

 

NLCS Calibration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

12,000

12,000

At 31 March 2024

12,000

12,000

Amortisation

Amortisation charge

1,200

1,200

At 31 March 2024

1,200

1,200

Carrying amount

At 31 March 2024

10,800

10,800

5

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

Additions

4,604

249

4,853

At 31 March 2024

4,604

249

4,853

Depreciation

Charge for the year

691

39

730

At 31 March 2024

691

39

730

Carrying amount

At 31 March 2024

3,913

210

4,123

6

Debtors

2024
£

Trade debtors

26,265

26,265

 

NLCS Calibration Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

2,143

Taxation and social security

12,897

Accruals and deferred income

1,975

Other creditors

28,825

45,840

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.