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REGISTERED NUMBER: 01388562 (England and Wales)















Noel Fitzpatrick Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Noel Fitzpatrick Ltd (Registered number: 01388562)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Noel Fitzpatrick Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N Fitzpatrick
M M Fitzpatrick
S Fitzpatrick





SECRETARY: M M Fitzpatrick





REGISTERED OFFICE: Langland Way
Reevesland Industrial Estate
Newport
NP19 4PT





REGISTERED NUMBER: 01388562 (England and Wales)





ACCOUNTANTS: O'Brien & Partners
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Noel Fitzpatrick Ltd (Registered number: 01388562)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,581,655 2,598,970
Investments 5 12,350 12,350
2,594,005 2,611,320

CURRENT ASSETS
Stocks 150,418 398,185
Debtors 6 344,841 774,876
Cash at bank and in hand 1,491,053 1,328,481
1,986,312 2,501,542
CREDITORS
Amounts falling due within one year 7 641,357 1,142,973
NET CURRENT ASSETS 1,344,955 1,358,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,938,960

3,969,889

CREDITORS
Amounts falling due after more than one year 8 (190,749 ) (263,787 )

PROVISIONS FOR LIABILITIES (482,000 ) (362,500 )
NET ASSETS 3,266,211 3,343,602

CAPITAL AND RESERVES
Called up share capital 1,998 1,998
Retained earnings 3,264,213 3,341,604
3,266,211 3,343,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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 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.

Noel Fitzpatrick Ltd (Registered number: 01388562)

Balance Sheet - continued
31 March 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 18 November 2024 and were signed on its behalf by:





N Fitzpatrick - Director


Noel Fitzpatrick Ltd (Registered number: 01388562)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Noel Fitzpatrick Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes revenue earned from the rendering of services. 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 the work performed to date to the total estimated contract costs

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% - 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Noel Fitzpatrick Ltd (Registered number: 01388562)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 850,062 2,946,231 66,481 753,352 4,616,126
Additions - 154,900 4,936 223,765 383,601
Disposals - (399,187 ) (54,272 ) (112,237 ) (565,696 )
At 31 March 2024 850,062 2,701,944 17,145 864,880 4,434,031
DEPRECIATION
At 1 April 2023 257,178 1,333,633 61,916 364,429 2,017,156
Charge for year 17,001 147,949 3,136 79,367 247,453
Eliminated on disposal - (269,793 ) (54,196 ) (88,244 ) (412,233 )
At 31 March 2024 274,179 1,211,789 10,856 355,552 1,852,376
NET BOOK VALUE
At 31 March 2024 575,883 1,490,155 6,289 509,328 2,581,655
At 31 March 2023 592,884 1,612,598 4,565 388,923 2,598,970

The net book value of fixed assets under hire purchase contracts was £749,176 (2023: £919,218) with depreciation charged in the year of £69,061 (2023: £68,322).

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 12,350
NET BOOK VALUE
At 31 March 2024 12,350
At 31 March 2023 12,350

Noel Fitzpatrick Ltd (Registered number: 01388562)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 276,645 714,442
Other debtors 68,196 60,434
344,841 774,876

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 213,037 398,855
Trade creditors 282,068 526,702
Taxation and social security 107,635 98,855
Other creditors 38,617 118,561
641,357 1,142,973

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 190,749 263,787

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 403,786 662,642

Net obligations under hire purchase contracts are secured by fixed charges on the assets concerned.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
S Fitzpatrick
Balance outstanding at start of year 12,934 -
Amounts advanced - 12,934
Amounts repaid (1,238 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,696 12,934

N Fitzpatrick
Balance outstanding at start of year - -
Amounts advanced 5,669 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,669 -