NORTH EAST PANELS LIMITED

Company Registration Number:
06031204 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

NORTH EAST PANELS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

NORTH EAST PANELS LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 221,354 379,921
Total fixed assets: 221,354 379,921
Current assets
Stocks: 491,462 347,000
Debtors:   934,223 1,259,444
Cash at bank and in hand: 380,849 750,809
Total current assets: 1,806,534 2,357,253
Creditors: amounts falling due within one year:   (808,742) (729,650)
Net current assets (liabilities): 997,792 1,627,603
Total assets less current liabilities: 1,219,146 2,007,524
Creditors: amounts falling due after more than one year:   (316,518) (316,518)
Provision for liabilities: (16,925) (15,417)
Total net assets (liabilities): 885,703 1,675,589
Capital and reserves
Called up share capital: 2,020 2,020
Other reserves: 1,000 1,000
Profit and loss account: 882,683 1,672,569
Shareholders funds: 885,703 1,675,589

The notes form part of these financial statements

NORTH EAST PANELS LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 October 2024
and signed on behalf of the board by:

Name: Mr Steven Sunley
Status: Director

The notes form part of these financial statements

NORTH EAST PANELS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant & machinery - 15% straight line Fixtures, fittings & equipment - 10% straight line Motor vehicles - 20% straight line

Intangible fixed assets and amortisation policy

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 20% straight line

NORTH EAST PANELS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 74 85

NORTH EAST PANELS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 1,123,490
Additions 172,270
Disposals (290,687)
At 31 March 2024 1,005,073
Depreciation
At 01 April 2023 743,569
Charge for year 77,472
On disposals (37,322)
At 31 March 2024 783,719
Net book value
At 31 March 2024 221,354
At 31 March 2023 379,921