Company Registration No. 07441984 (England and Wales)
NEVILLE TUCKER SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
NEVILLE TUCKER SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
NEVILLE TUCKER SERVICES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
160,810
115,297
Current assets
Stocks
310,324
276,224
Debtors
5
979,425
970,451
Cash at bank and in hand
236,326
112,178
1,526,075
1,358,853
Creditors: amounts falling due within one year
6
(865,739)
(730,635)
Net current assets
660,336
628,218
Total assets less current liabilities
821,146
743,515
Creditors: amounts falling due after more than one year
7
(48,331)
(34,945)
Provisions for liabilities
8
(40,203)
(28,824)
Net assets
732,612
679,746
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss reserves
731,612
678,746
Total equity
732,612
679,746

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

NEVILLE TUCKER SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 October 2024 and are signed on its behalf by:
M.A. Gartland
Director
Company Registration No. 07441984
NEVILLE TUCKER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Neville Tucker Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit F2, Rotterdam Park, Sutton Fields Industrial Estate, Hull, East Yorkshire, HU7 0AN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Revenue from maintenance contracts which are time based is deferred to the extent that the contract period falls after the balance sheet date.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold alterations
Straight line over the life of the lease
Plant and machinery
Straight line over 3 to 8 years
Fixtures, fittings & equipment
Straight line over 3 to 8 years
Motor vehicles
Straight line over 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

NEVILLE TUCKER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price.

Where contracts are on-going at the balance sheet date, work in progress is recognised to the extent that costs to date exceed the amounts invoiced unless the contract is expected to be completed at a loss in which case provision is made for all foreseeable losses.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ to all of its financial instruments. It has no financial instruments which fall to be classed as "Other Financial Instruments" as defined by Section 12 of FRS 102.

 

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, asset finance loans and loans from directors that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 

NEVILLE TUCKER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in full on all material timing differences that have originated but not reversed at the balance sheet date. A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits form which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are not discounted.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

The company contributes to the pension schemes of its directors. The pension costs charged in the financial statements represent the contributions payable by the company during the year.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

NEVILLE TUCKER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 30 (2023 - 32).

2024
2023
Number
Number
Total
30
32
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
83,032
66,099
Adjustments in respect of prior periods
-
0
(49,699)
Total current tax
83,032
16,400
Deferred tax
Origination and reversal of timing differences
11,379
(3,097)
Total tax charge
94,411
13,303
4
Tangible fixed assets
Leasehold alterations
Plant and machinery
Total
£
£
£
Cost
At 1 February 2023
117,349
543,601
660,950
Additions
-
0
84,209
84,209
Disposals
-
0
(40,625)
(40,625)
At 31 January 2024
117,349
587,185
704,534
Depreciation and impairment
At 1 February 2023
116,104
429,549
545,653
Depreciation charged in the year
720
37,976
38,696
Eliminated in respect of disposals
-
0
(40,625)
(40,625)
At 31 January 2024
116,824
426,900
543,724
Carrying amount
At 31 January 2024
525
160,285
160,810
At 31 January 2023
1,245
114,052
115,297
NEVILLE TUCKER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
979,425
968,328
Other debtors
-
0
2,123
979,425
970,451
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
544,438
426,255
Corporation tax
83,032
66,099
Other taxation and social security
96,945
110,397
Other creditors
141,324
127,884
865,739
730,635

Other creditors falling due within one year include £35,937 (2023: £18,117) in respect of hire purchase obligations secured against the assets to which they relate.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
48,331
34,945

Other creditors falling due after more than one year includes £48,331 (2023: £34,945) in respect of hire purchase obligations secured against the assets to which they relate.

8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
40,203
28,824
NEVILLE TUCKER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
8
Deferred taxation
(Continued)
- 8 -
2024
Movements in the year:
£
Liability at 1 February 2023
28,824
Charge to profit or loss
11,379
Liability at 31 January 2024
40,203
9
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1,000 (2023: 1,000) A Ordinary Shares of £1 each
1,000
1,000
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £17,867 (2023: £44,467).

12
Ultimate controlling party

The ultimate controlling party is M A Gartland by virtue of his shareholding in NTS Holdings (Hull) Limited.

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