Company registration number 09000176 (England and Wales)
NR CONTRACTORS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
NR CONTRACTORS LTD
COMPANY INFORMATION
Directors
Mr N Rands
Mr N R Rands
Company number
09000176
Registered office
Grasmere Cottage
Lower Bentley
Bromsgrove
Worcestershire
B60 4JB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
47 High Street
Bromsgrove
Worcestershire
B61 8AW
NR CONTRACTORS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
NR CONTRACTORS LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NR CONTRACTORS LTD FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NR Contractors Ltd for the year ended 30 April 2024 which comprise, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of NR Contractors 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 NR Contractors Ltd and state those matters that we have agreed to state to the board of directors of NR Contractors Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NR Contractors Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that NR Contractors 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 NR Contractors Ltd. You consider that NR Contractors 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 NR Contractors 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.

Ormerod Rutter Limited
9 August 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
NR CONTRACTORS LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
63,222
36,220
Investments
4
1
-
0
63,223
36,220
Current assets
Stocks
18,567
11,343
Debtors
5
149,713
124,664
Cash at bank and in hand
10,652
5,165
178,932
141,172
Creditors: amounts falling due within one year
6
(185,499)
(151,860)
Net current liabilities
(6,567)
(10,688)
Total assets less current liabilities
56,656
25,532
Creditors: amounts falling due after more than one year
7
(30,148)
-
0
Provisions for liabilities
9
(10,672)
(9,055)
Net assets
15,836
16,477
Capital and reserves
Called up share capital
10
1
1
Profit and loss reserves
15,835
16,476
Total equity
15,836
16,477

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 30 April 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 member has 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.

NR CONTRACTORS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 9 August 2024 and are signed on its behalf by:
Mr N Rands
Director
Company registration number 09000176 (England and Wales)
NR CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

NR Contractors Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Grasmere Cottage, Lower Bentley, Bromsgrove, Worcestershire, B60 4JB.

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 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

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:

Plant and machinery
20% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

NR CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
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 tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

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

1.8
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.

NR CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
37,070
1,926
48,181
87,177
Additions
2,600
-
0
44,350
46,950
At 30 April 2024
39,670
1,926
92,531
134,127
Depreciation and impairment
At 1 May 2023
18,892
1,572
30,493
50,957
Depreciation charged in the year
4,156
283
15,509
19,948
At 30 April 2024
23,048
1,855
46,002
70,905
Carrying amount
At 30 April 2024
16,622
71
46,529
63,222
At 30 April 2023
18,178
354
17,688
36,220
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
-
0
NR CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 1 May 2023
-
Additions
1
At 30 April 2024
1
Carrying amount
At 30 April 2024
1
At 30 April 2023
-
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
137,483
101,451
Other debtors
12,230
23,213
149,713
124,664
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
27,923
12,714
Amounts owed to group undertakings and undertakings in which the company has a participating interest
13,500
-
0
Taxation and social security
-
0
10,706
Other creditors
144,076
128,440
185,499
151,860
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
30,148
-
0
NR CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
37,982
-
Hire purchase contracts are secured against the assets to which they relate.
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
10,672
9,055
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
11
Ultimate controlling party

The ultimate controlling party is Mr N Rands.

2024-04-302023-05-01false09 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr N RandsMr N R Randsfalsefalse090001762023-05-012024-04-3009000176bus:Director12023-05-012024-04-3009000176bus:Director22023-05-012024-04-3009000176bus:RegisteredOffice2023-05-012024-04-3009000176bus:Agent12023-05-012024-04-30090001762024-04-30090001762023-04-3009000176core:PlantMachinery2024-04-3009000176core:ComputerEquipment2024-04-3009000176core:MotorVehicles2024-04-3009000176core:PlantMachinery2023-04-3009000176core:ComputerEquipment2023-04-3009000176core:MotorVehicles2023-04-3009000176core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3009000176core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3009000176core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3009000176core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3009000176core:CurrentFinancialInstruments2024-04-3009000176core:CurrentFinancialInstruments2023-04-3009000176core:ShareCapital2024-04-3009000176core:ShareCapital2023-04-3009000176core:RetainedEarningsAccumulatedLosses2024-04-3009000176core:RetainedEarningsAccumulatedLosses2023-04-3009000176core:PlantMachinery2023-05-012024-04-3009000176core:ComputerEquipment2023-05-012024-04-3009000176core:MotorVehicles2023-05-012024-04-30090001762022-05-012023-04-3009000176core:PlantMachinery2023-04-3009000176core:ComputerEquipment2023-04-3009000176core:MotorVehicles2023-04-30090001762023-04-3009000176core:WithinOneYear2024-04-3009000176core:WithinOneYear2023-04-3009000176core:Non-currentFinancialInstruments2024-04-3009000176core:Non-currentFinancialInstruments2023-04-3009000176bus:PrivateLimitedCompanyLtd2023-05-012024-04-3009000176bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3009000176bus:FRS1022023-05-012024-04-3009000176bus:AuditExemptWithAccountantsReport2023-05-012024-04-3009000176bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP