Registered number
04961567
Nuneaton Replacement Panels Limited
Unaudited Filleted Accounts
31 January 2024
Beasley & Co.
Chartered Accountants
Abbey House
105 Abbey Street
Nuneaton
Warwickshire
CV11 5BX
Nuneaton Replacement Panels Limited
Registered number: 04961567
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 419,594 383,633
Current assets
Stocks 299,000 232,832
Debtors 4 274,563 283,259
Cash at bank and in hand 263,271 274,315
836,834 790,406
Creditors: amounts falling due within one year 5 (372,727) (334,483)
Net current assets 464,107 455,923
Total assets less current liabilities 883,701 839,556
Provisions for liabilities (8,832) (1,649)
Net assets 874,869 837,907
Capital and reserves
Called up share capital 106 106
Profit and loss account 874,763 837,801
Shareholders' funds 874,869 837,907
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J House
Director
Approved by the board on 25 October 2024
Nuneaton Replacement Panels Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance basis
Motor vehicles 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 16
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 344,325 33,248 84,628 462,201
Additions - 1,637 59,413 61,050
At 31 January 2024 344,325 34,885 144,041 523,251
Depreciation
At 1 February 2023 - 30,298 48,270 78,568
Charge for the year - 1,147 23,942 25,089
At 31 January 2024 - 31,445 72,212 103,657
Net book value
At 31 January 2024 344,325 3,440 71,829 419,594
At 31 January 2023 344,325 2,950 36,358 383,633
4 Debtors 2024 2023
£ £
Trade debtors 260,873 263,490
Other debtors 13,690 19,769
274,563 283,259
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 37,080 -
Trade creditors 146,934 106,350
Corporation tax 9,365 25,631
Other taxes and social security costs 18,591 13,912
Directors loan accounts 154,475 185,857
Other creditors 6,282 2,733
372,727 334,483
6 Controlling party
The ultimate controlling party is Mr J House.
7 Other information
Nuneaton Replacement Panels Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4 Alliance Close
Attleborough Fields Ind Estate
Nuneaton
Warwickshire
CV11 6SD
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