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REGISTERED NUMBER: 08105932 (England and Wales)












Unaudited Financial Statements

for the Year Ended 29 February 2024

for

NCF Engineering Holdings Limited

NCF Engineering Holdings Limited (Registered number: 08105932)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NCF Engineering Holdings Limited

Company Information
for the Year Ended 29 February 2024







Directors: N S C Furno
G S Furno





Secretary: G S Furno





Registered office: Liddington Industrial Estate
Unit C2
Cheltenham
Gloucestershire
GL53 0DL





Registered number: 08105932 (England and Wales)





Accountants: Crowthers Chartered Accountants
15 St Georges Road
Cheltenham
Gloucestershire
GL50 3DT

NCF Engineering Holdings Limited (Registered number: 08105932)

Balance Sheet
29 February 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,250,000 1,250,000

CURRENT ASSETS
Investments 5 100 100
Cash at bank 16,421 15,931
16,521 16,031
CREDITORS
Amounts falling due within one year 6 654,783 653,548
NET CURRENT LIABILITIES (638,262 ) (637,517 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,738

612,483

CREDITORS
Amounts falling due after more than one
year

7

(33,189

)

(47,331

)

PROVISIONS FOR LIABILITIES (77,098 ) (58,482 )
NET ASSETS 501,451 506,670

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 208,064 226,679
Retained earnings 293,287 279,891
501,451 506,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

NCF Engineering Holdings Limited (Registered number: 08105932)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





N S C Furno - Director


NCF Engineering Holdings Limited (Registered number: 08105932)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

NCF Engineering Holdings Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about NCF Engineering Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

NCF Engineering Holdings Limited (Registered number: 08105932)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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, bank loans, loans from fellow group companies and preference shares 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 payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

NCF Engineering Holdings Limited (Registered number: 08105932)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 March 2023 1,250,000
Additions 3,124
Disposals (3,124 )
At 29 February 2024 1,250,000
Net book value
At 29 February 2024 1,250,000
At 28 February 2023 1,250,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 1,250,000

The valuation above was determined by the directors of the company based on open market values of similar properties in the same geographical location as at 28 February 2024.

5. CURRENT ASSET INVESTMENTS
2024 2023
as restated
£    £   
Shares in group undertakings 100 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 16,121 17,892
Trade creditors - 75
Amounts owed to group undertakings 305,684 270,828
Taxation and social security 4,562 4,701
Other creditors 328,416 360,052
654,783 653,548

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans 33,189 47,331

NCF Engineering Holdings Limited (Registered number: 08105932)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
G&P Furno loan 249,378 280,751
NatWest loan 49,210 65,224
298,588 345,975

The above balances are secured against fixed charges over the property owned by the company.

9. RELATED PARTY DISCLOSURES

Transactions with directors
At the balance sheet date the company had been loaned £77,947 (2023 - £78,307) by the directors of the company. There are no fixed repayment terms and no interest is charged on the outstanding balance.

At the balance sheet date the company had been loaned £249,378 (2023 - £280,751) by a director and their wife. There are no fixed repayment terms and no interest is charged on the outstanding balance.

Transactions with close family relatives
At the balance sheet date the company had been loaned £469 (2023 - £469) by close family members of the directors. There are no fixed repayment terms and no interest is charged on the outstanding balance.