Company registration number 04722738 (England and Wales)
NUNS STREET PLATING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
NUNS STREET PLATING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
NUNS STREET PLATING LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
78,051
69,594
Current assets
Stocks
5,000
5,000
Debtors
5
91,501
71,743
Cash at bank and in hand
248,105
200,263
344,606
277,006
Creditors: amounts falling due within one year
6
(62,581)
(44,409)
Net current assets
282,025
232,597
Total assets less current liabilities
360,076
302,191
Provisions for liabilities
(16,594)
(13,191)
Net assets
343,482
289,000
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
7
343,382
288,900
Total equity
343,482
289,000

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her 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.

The financial statements were approved and signed by the director and authorised for issue on 8 November 2024
Mrs J Ditheridge
Director
Company Registration No. 04722738
NUNS STREET PLATING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Nuns Street Plating Limited is a private company limited by shares incorporated in England and Wales. The registered office is 109 Nuns Street, Derby, United Kingdom, DE1 3LS.

2.1
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
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.

2.3
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:

Leasehold improvements
20% Straight line
Plant and machinery
10% Straight line
Equipment
10% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

NUNS STREET PLATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2
Accounting policies
(Continued)
- 3 -
2.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

2.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

2.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

2.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and subsequently measured at amortised cost.

Other financial assets

Other financial assets, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss account, except that investments in equity instruments are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

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, are initially recognised at transaction price and subsequently measured at amortised cost.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

2.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

NUNS STREET PLATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
2
Accounting policies
(Continued)
- 4 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2.9
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.

 

Deferred tax is calculated at 25% the tax rate that is 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.

2.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

2.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3
Employees

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

2024
2023
Number
Number
Total
7
6
NUNS STREET PLATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023
32,608
125,642
158,250
Additions
1,465
23,920
25,385
Disposals
-
0
(4,794)
(4,794)
At 30 June 2024
34,073
144,768
178,841
Depreciation and impairment
At 1 July 2023
15,778
72,878
88,656
Depreciation charged in the year
6,619
9,880
16,499
Eliminated in respect of disposals
-
0
(4,365)
(4,365)
At 30 June 2024
22,397
78,393
100,790
Carrying amount
At 30 June 2024
11,676
66,375
78,051
At 30 June 2023
16,830
52,764
69,594
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
86,915
66,613
Other debtors
4,586
5,130
91,501
71,743
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,253
2,458
Corporation tax
33,919
21,010
Other taxation and social security
12,049
10,438
Other creditors
12,360
10,503
62,581
44,409
NUNS STREET PLATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
7
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
288,900
238,026
Profit for the year
91,482
73,874
Dividends declared and paid in the year
(37,000)
(23,000)
At the end of the year
343,382
288,900
8
Related party transactions

The company operates from a property owned by the director for which no rent is charged.

 

Included within other creditors is an amount £624 (2023: £285) owing to the director. This loan is interest free and repayable on demand.

9
Parent company

The ultimate controlling party is Mrs Jean Ditheridge by virtue of her shareholding.

2024-06-302023-07-01false08 November 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMrs J Ditheridgefalsefalse047227382023-07-012024-06-30047227382024-06-30047227382023-06-3004722738core:LandBuildings2024-06-3004722738core:OtherPropertyPlantEquipment2024-06-3004722738core:LandBuildings2023-06-3004722738core:OtherPropertyPlantEquipment2023-06-3004722738core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3004722738core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3004722738core:CurrentFinancialInstruments2024-06-3004722738core:CurrentFinancialInstruments2023-06-3004722738core:ShareCapital2024-06-3004722738core:ShareCapital2023-06-3004722738core:RetainedEarningsAccumulatedLosses2024-06-3004722738core:RetainedEarningsAccumulatedLosses2023-06-3004722738core:RetainedEarningsAccumulatedLosses2023-06-3004722738core:RetainedEarningsAccumulatedLosses2022-06-3004722738bus:Director12023-07-012024-06-3004722738core:LeaseholdImprovementscore:LeasedAssetsHeldAsLessee2023-07-012024-06-3004722738core:PlantMachinery2023-07-012024-06-3004722738core:FurnitureFittings2023-07-012024-06-30047227382022-07-012023-06-3004722738core:LandBuildings2023-06-3004722738core:OtherPropertyPlantEquipment2023-06-30047227382023-06-3004722738core:LandBuildings2023-07-012024-06-3004722738core:OtherPropertyPlantEquipment2023-07-012024-06-3004722738core:WithinOneYear2024-06-3004722738core:WithinOneYear2023-06-3004722738bus:PrivateLimitedCompanyLtd2023-07-012024-06-3004722738bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3004722738bus:FRS1022023-07-012024-06-3004722738bus:AuditExemptWithAccountantsReport2023-07-012024-06-3004722738bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP