NWG Services Ltd
Registered number: 09714554
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,162 1,743
Current assets
Debtors 4 (594) 1,866
Cash at bank and in hand 21,753 21,232
21,159 23,098
Creditors: amounts falling due within one year 5 (16,519) (9,627)
Net current assets 4,640 13,471
Total assets less current liabilities 5,802 15,214
Creditors: amounts falling due after more than one year 6 (12,490) (15,173)
Net (liabilities)/assets (6,688) 41
Capital and reserves
Called up share capital 100 100
Profit and loss account (6,788) (59)
Shareholder's funds (6,688) 41
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 member has 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.
Keith Hodge
Director
Approved by the board on 6 November 2024
NWG Services Ltd
Notes to the Accounts
for the year ended 31 August 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.
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 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 5,493 8,490 13,983
At 31 August 2024 5,493 8,490 13,983
Depreciation
At 1 September 2023 4,331 8,490 12,821
At 31 August 2024 4,331 8,490 12,821
Net book value
At 31 August 2024 1,162 - 1,162
At 31 August 2023 1,162 - 1,162
4 Debtors 2024 2023
£ £
Trade debtors (594) 1,866
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax - 4,775
Other taxes and social security costs 8,027 3,695
Other creditors 8,492 1,157
16,519 9,627
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,490 15,173
7 Related party transactions
All transactions with the director were conducted under normal market conditions.
8 Controlling party
The ultimate controlling party is Keith Hodge & Stuart Gardiner
9 Other information
NWG Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
42 Brunswick Terrace
Hove
BN3 1HA
Hove
East Sussex
BN3 1HA
NWG Services Ltd 09714554 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts July 2024 Keith Hodge No description of principal activity 09714554 2022-09-01 2023-08-31 09714554 core:WithinOneYear 2023-08-31 09714554 core:AfterOneYear 2023-08-31 09714554 core:ShareCapital 2023-08-31 09714554 core:RetainedEarningsAccumulatedLosses 2023-08-31 09714554 2023-09-01 2024-08-31 09714554 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09714554 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09714554 bus:Director40 2023-09-01 2024-08-31 09714554 1 2023-09-01 2024-08-31 09714554 2 2023-09-01 2024-08-31 09714554 countries:England 2023-09-01 2024-08-31 09714554 bus:FRS102 2023-09-01 2024-08-31 09714554 bus:FilletedAccounts 2023-09-01 2024-08-31 09714554 2024-08-31 09714554 core:WithinOneYear 2024-08-31 09714554 core:AfterOneYear 2024-08-31 09714554 core:ShareCapital 2024-08-31 09714554 core:RetainedEarningsAccumulatedLosses 2024-08-31 09714554 core:PlantMachinery 2024-08-31 09714554 core:Vehicles 2024-08-31 09714554 2023-08-31 09714554 core:PlantMachinery 2023-08-31 09714554 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure