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REGISTERED NUMBER: 10787965 (England and Wales)













Unaudited Financial Statements for the Year Ended 30 October 2023

for

NGJ Midlands Ltd

NGJ Midlands Ltd (Registered number: 10787965)






Contents of the Financial Statements
for the Year Ended 30 October 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


NGJ Midlands Ltd

Company Information
for the Year Ended 30 October 2023







DIRECTORS: G Walters
G Walters





SECRETARY: G Walters





REGISTERED OFFICE: Wilkes Tranter & Co Ltd
Brook House
Moss Grove
Kingswinford
DY6 9HS





REGISTERED NUMBER: 10787965 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
NGJ Midlands Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NGJ Midlands Ltd for the year ended 30 October 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of NGJ Midlands Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NGJ Midlands Ltd and state those matters that we have agreed to state to the Board of Directors of NGJ Midlands Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NGJ Midlands Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NGJ Midlands Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NGJ Midlands Ltd. You consider that NGJ Midlands Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of NGJ Midlands Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


25 October 2024

NGJ Midlands Ltd (Registered number: 10787965)

Balance Sheet
30 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 73,000 83,750
Tangible assets 5 79,880 106,039
152,880 189,789

CURRENT ASSETS
Stocks 103,248 131,306
Debtors 6 77,514 98,282
Cash at bank 2 79,052
180,764 308,640
CREDITORS
Amounts falling due within one year 7 (233,512 ) (343,088 )
NET CURRENT LIABILITIES (52,748 ) (34,448 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,132

155,341

CREDITORS
Amounts falling due after more than one
year

8

(84,238

)

(118,471

)

PROVISIONS FOR LIABILITIES (15,177 ) (26,510 )
NET ASSETS 717 10,360

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 1 1
Retained earnings 714 10,357
717 10,360

NGJ Midlands Ltd (Registered number: 10787965)

Balance Sheet - continued
30 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:




G Walters - Director



G Walters - Director


NGJ Midlands Ltd (Registered number: 10787965)

Notes to the Financial Statements
for the Year Ended 30 October 2023

1. STATUTORY INFORMATION

NGJ Midlands Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 4 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


NGJ Midlands Ltd (Registered number: 10787965)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 October 2022
and 30 October 2023 107,500
AMORTISATION
At 31 October 2022 23,750
Amortisation for year 10,750
At 30 October 2023 34,500
NET BOOK VALUE
At 30 October 2023 73,000
At 30 October 2022 83,750

NGJ Midlands Ltd (Registered number: 10787965)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 31 October 2022 136,982
Additions 6,427
At 30 October 2023 143,409
DEPRECIATION
At 31 October 2022 30,943
Charge for year 32,586
At 30 October 2023 63,529
NET BOOK VALUE
At 30 October 2023 79,880
At 30 October 2022 106,039

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 58,162 92,882
Other debtors 19,352 5,400
77,514 98,282

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loan 54,000 10,000
Trade creditors 106,162 159,407
Taxation and social security 32,963 37,558
Other creditors 40,387 136,123
233,512 343,088

NGJ Midlands Ltd (Registered number: 10787965)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 15,833 25,833
Other creditors 68,405 92,638
84,238 118,471

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 25,833 35,833

The bank loan is secured by a fixed and floating charge over the company's assets.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made a loan to the director, Greg Walters. The loan was unsecured and repayable on demand. The maximum amount outstanding during the year was £7,841. The amount outstanding at 30 April 2024 was £7,841.

During the year the company made a loan to the director, Grant Walters. The loan was unsecured and repayable on demand. The maximum amount outstanding during the year was £7,310. The amount outstanding at 30 April 2024 was £7,310.