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Company Registration Number:  14555543



















NGL (SOUTH CHARLTON) LTD
FINANCIAL STATEMENTS
 31 DECEMBER 2023


















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NGL (SOUTH CHARLTON) LTD
REGISTERED NUMBER: 14555543

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Stocks
  
689,028

Debtors: amounts falling due within one year
 4 
11,924

  
700,952

Creditors: amounts falling due within one year
 5 
(707,102)

Net current (liabilities)/assets
  
 
 
(6,150)

Total assets less current liabilities
  
(6,150)

  

Net (liabilities)/assets
  
(6,150)


Capital and reserves
  

Called up share capital 
  
200

Profit and loss account
  
(6,350)

  
(6,150)


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr M F Hogan
Director

Date: 24 September 2024

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
NGL (SOUTH CHARLTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by share capital, incorporated in England.
The company was incorporated on 23 December 2022.
The address of its registered office is Dere Street House, Bowburn North Industrail Estate, Bowburn, Durham, DH6 5PF.United Kingdom

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Stocks

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.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.




 

Page 2

 
NGL (SOUTH CHARLTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration.

The average monthly number of employees, including directors, during the year was 0.


4.


Debtors

2023
£


Amounts owed by group undertakings
200

Other debtors
11,724

11,924



5.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
702,252

Accruals and deferred income
4,850

707,102



6.


Controlling party

The company's immediate parent is VB Turnbull Limited, incorporated in England. 
The parent of the largest group is Vestbrown (Newco) Limited, incorporated in England.


7.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.
The audit report was signed on 24 September 2024 by Simon Turner (Senior Statutory Auditor) on behalf
of Armstrong Watson Audit Limited.


Page 3