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REGISTERED NUMBER: 06826291 (England and Wales)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

NRB ELECTRICAL LIMITED

NRB ELECTRICAL LIMITED (REGISTERED NUMBER: 06826291)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NRB ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 February 2024







DIRECTORS: N R Barnes
Mrs J Barnes





SECRETARY: Mrs J Barnes





REGISTERED OFFICE: 44 Cromford Road
Wirksworth
Matlock
Derbyshire
DE4 4FR





REGISTERED NUMBER: 06826291 (England and Wales)





ACCOUNTANTS: Mills & Black
Derwent House
141-145 Dale Road
Matlock
Derbyshire
DE4 3LU

NRB ELECTRICAL LIMITED (REGISTERED NUMBER: 06826291)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 268,035 250,075

CURRENT ASSETS
Stocks 510,783 582,389
Debtors 5 382,580 433,033
Cash at bank 154,051 202,034
1,047,414 1,217,456
CREDITORS
Amounts falling due within one year 6 120,207 202,632
NET CURRENT ASSETS 927,207 1,014,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,195,242

1,264,899

CREDITORS
Amounts falling due after more than one
year

7

(22,571

)

(19,826

)

PROVISIONS FOR LIABILITIES (59,063 ) (45,897 )
NET ASSETS 1,113,608 1,199,176

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,113,508 1,199,076
SHAREHOLDERS' FUNDS 1,113,608 1,199,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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.

NRB ELECTRICAL LIMITED (REGISTERED NUMBER: 06826291)

BALANCE SHEET - continued
29 February 2024



The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





N R Barnes - Director


NRB ELECTRICAL LIMITED (REGISTERED NUMBER: 06826291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 February 2024

1. STATUTORY INFORMATION

NRB Electrical Limited 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

NRB ELECTRICAL LIMITED (REGISTERED NUMBER: 06826291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 79,453 113,829 223,166 54,171 470,619
Additions - 34,444 84,276 - 118,720
Disposals - - (26,995 ) - (26,995 )
At 29 February 2024 79,453 148,273 280,447 54,171 562,344
DEPRECIATION
At 1 March 2023 31,780 52,739 93,743 42,282 220,544
Charge for year 15,890 19,105 50,964 6,260 92,219
Eliminated on disposal - - (18,454 ) - (18,454 )
At 29 February 2024 47,670 71,844 126,253 48,542 294,309
NET BOOK VALUE
At 29 February 2024 31,783 76,429 154,194 5,629 268,035
At 28 February 2023 47,673 61,090 129,423 11,889 250,075

NRB ELECTRICAL LIMITED (REGISTERED NUMBER: 06826291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 102,375
Additions 59,984
Transfer to ownership (31,545 )
At 29 February 2024 130,814
DEPRECIATION
At 1 March 2023 45,901
Charge for year 26,151
Transfer to ownership (21,564 )
At 29 February 2024 50,488
NET BOOK VALUE
At 29 February 2024 80,326
At 28 February 2023 56,474

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 332,991 390,485
Other debtors 34,320 29,461
Prepayments 15,269 13,087
382,580 433,033

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 14,010 10,660
Trade creditors 15,017 81,308
Corporation tax 2,923 -
Social security and other taxes 69,159 75,891
Other creditors 16,409 18,855
Directors' current accounts - 13,105
Accrued expenses 2,689 2,813
120,207 202,632

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 22,571 19,826

NRB ELECTRICAL LIMITED (REGISTERED NUMBER: 06826291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024

8. CONTROLLING PARTY

The controlling party is N R Barnes.