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Company No: 01085858 (England and Wales)

NAVRON LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

NAVRON LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

NAVRON LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
NAVRON LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 451,202 384,134
451,202 384,134
Current assets
Stocks 4 10,000 12,000
Debtors 5 36,097 24,092
Cash at bank and in hand 6 6,231 13,876
52,328 49,968
Creditors: amounts falling due within one year 7 ( 136,874) ( 105,573)
Net current liabilities (84,546) (55,605)
Total assets less current liabilities 366,656 328,529
Net assets 366,656 328,529
Capital and reserves
Called-up share capital 9 100 100
Revaluation reserve 310,160 260,160
Profit and loss account 56,396 68,269
Total shareholder's funds 366,656 328,529

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Navron Ltd (registered number: 01085858) were approved and authorised for issue by the Director. They were signed on its behalf by:

Simon Dominic Swift
Director

26 November 2024

NAVRON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
NAVRON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Navron Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 12.5 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 6 7

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 300,000 745,655 1,045,655
Additions 0 47,158 47,158
Revaluations 50,000 0 50,000
At 31 March 2024 350,000 792,813 1,142,813
Accumulated depreciation
At 01 April 2023 49,500 612,021 661,521
Charge for the financial year 5,250 24,840 30,090
At 31 March 2024 54,750 636,861 691,611
Net book value
At 31 March 2024 295,250 155,952 451,202
At 31 March 2023 250,500 133,634 384,134

4. Stocks

2024 2023
£ £
Stocks 10,000 12,000

5. Debtors

2024 2023
£ £
Trade debtors 36,097 24,092

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 6,231 13,876

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 37,986 30,379
Other taxation and social security 8,403 7,579
Obligations under finance leases and hire purchase contracts 0 389
Other creditors 90,485 67,226
136,874 105,573

8. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Charged to the Statement of Income and Retained Earnings ( 32,426) 0
At the end of financial year ( 32,426) 0

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100