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Registration number: 09822448

NH3 Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

NH3 Engineering Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

NH3 Engineering Limited

Company Information

Directors

J A Ball

Company secretary

J A Ball

Registered office

1 Minton Enterprise Park
Oaks Drive
Newmarket
Suffolk
CB8 7YY

Bankers

Lloyds Bank
Bury St. Edmunds
28-34 Risbygate Street
Bury St Edmunds
Suffolk
IP33 3AH

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

NH3 Engineering Limited

(Registration number: 09822448)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,025

2,925

Tangible assets

5

151,001

5,178

 

153,026

8,103

Current assets

 

Stocks

330,309

-

Debtors

6

134,304

399,440

Cash at bank and in hand

 

662,883

129,919

 

1,127,496

529,359

Creditors: Amounts falling due within one year

7

(977,398)

(435,362)

Net current assets

 

150,098

93,997

Total assets less current liabilities

 

303,124

102,100

Creditors: Amounts falling due after more than one year

7

-

(28,417)

Provisions for liabilities

(37,750)

-

Net assets

 

265,374

73,683

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

265,274

73,583

Shareholders' funds

 

265,374

73,683

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 October 2024
 

J A Ball
Company secretary and director

 

NH3 Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 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 and principle place of business is: 1 Minton Enterprise Park, Oaks Drive, Newmarket, Suffolk, CB8 7YY, United Kingdom.

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the installation and maintenance of air conditioning and refrigeration units. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Amounts recoverable on long term contracts are stated at expected sales value and recognised by reference to the stage of completion. Calculated costs on contracts to the balance sheet date are recognised by reference to the stage of completion of the contract.

Government grants

Government grants are recognised as income in the period they are received as they do not relate to specific time frames or are for the reimbursement of expenditure.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Deferred income tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

NH3 Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Tangible assets

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

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing Balance

Office and computer equipment

25% Reducing Balance

Motor vehicles

25% Reducing Balance

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 Years Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade Creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

NH3 Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Long term employee benefits

The holiday year for NH3 Engineering Limited runs to 31 December 2024.

Any unused holiday can only be carried forward at the discretion of the directors. The cost of any unused entitlement is recognised in the period in which the employee's services are received.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

9,000

9,000

At 31 January 2024

9,000

9,000

Amortisation

At 1 February 2023

6,075

6,075

Amortisation charge

900

900

At 31 January 2024

6,975

6,975

Carrying amount

At 31 January 2024

2,025

2,025

At 31 January 2023

2,925

2,925

 

NH3 Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Office and computer equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

3,270

13,700

86

17,056

Additions

7,588

145,840

4,326

157,754

At 31 January 2024

10,858

159,540

4,412

174,810

Depreciation

At 1 February 2023

649

11,191

38

11,878

Charge for the year

1,011

10,187

733

11,931

At 31 January 2024

1,660

21,378

771

23,809

Carrying amount

At 31 January 2024

9,198

138,162

3,641

151,001

At 31 January 2023

2,621

2,509

48

5,178

6

Debtors

2024
£

2023
£

Trade debtors

48,928

367,906

Other debtors

71,422

21,136

Prepayments

13,954

10,398

134,304

399,440

 

NH3 Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

268,928

39,247

Loans and borrowings

9

-

11,000

Directors loan account

1,882

24,263

Other creditors

 

7,661

6,493

Taxation and social security

 

75,063

-

Accruals and deferred income

 

623,864

354,359

 

977,398

435,362

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

28,417

Bank borrowings

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

11,000

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

28,417