Registered Number:03301848 |
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
N L Contracts Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
20,759
14,885
2
20,759
14,885
18,888
48,661
3
Trade and other receivables |
210,908
139,225
4
233,531
Cash and cash equivalents |
326,548
514,434
463,327
Trade and other payables: amounts falling due within one |
year |
(80,737)
(117,094)
5
382,590
397,340
Net current assets
Total assets less current liabilities |
418,099
397,475
(5,134)
(2,828)
Provisions for liabilities |
412,965
Net assets
394,647
2
2
412,963
394,645
412,965
394,647
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 31 October 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2024
N L Contracts Limited
Notes to the Financial Statements
Statutory Information
N L Contracts Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 03301848. |
Units 5 -7 Beacon Trading Estate
Middlemore Lane
Aldridge , Walsall
WS9 8DU
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation . Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Work in progress is valued at costs incurred to date allowing for a reasonable estimate of labour time expended prior to the year end. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
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For the year ended 31 March 2024
N L Contracts Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
104,860
57,164
47,696
11,995
11,995
-
(17,397)
-
(17,397)
47,696
51,762
99,458
Provision for depreciation and impairment |
89,975
53,783
36,192
Charge for year
5,386
3,660
1,726
(16,662)
(16,662)
-
78,699
40,781
37,918
9,778
10,981
20,759
11,504
3,381
14,885
2023
2024
48,661
18,888
4. Trade and other receivables |
2023
2024
119,753
193,517
Prepayments and accrued income |
5,468
5,579
Taxation and social security |
14,004
11,812
210,908
139,225
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For the year ended 31 March 2024
N L Contracts Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year |
2023
2024
62,358
43,474
Taxation and social security |
53,511
36,038
Accruals and deferred income |
1,225
1,225
117,094
80,737
6. Related party transactions |
The ultimate controlling parties during the year were Neal & Lee Levy , directors , whom control the company by |
virtue of each owning with their spouses 50% of the share capital. |
7. Average number of persons employed |
During the year the average number of employees was 6 (2023 : 7)
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