NG Cellar Ltd
Registered number: 13222431
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 246,101 263,680
Tangible assets 4 116,245 -
362,346 263,680
Current assets
Stocks 125,784 82,019
Cash at bank and in hand 1,240 2,119
127,024 84,138
Creditors: amounts falling due within one year 5 (13,335) (6,113)
Net current assets 113,689 78,025
Total assets less current liabilities 476,035 341,705
Creditors: amounts falling due after more than one year 6 (475,416) (336,349)
Net assets 619 5,356
Capital and reserves
Called up share capital 100 100
Profit and loss account 519 5,256
Shareholders' funds 619 5,356
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 members have 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.
Mr N Arunthavanathan
Director
Approved by the board on 29 November 2024
NG Cellar Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 263,680
At 29 February 2024 263,680
Amortisation
Provided during the year 17,579
At 29 February 2024 17,579
Net book value
At 29 February 2024 246,101
At 28 February 2023 263,680
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
Additions 60,170 30,795 41,075 132,040
At 29 February 2024 60,170 30,795 41,075 132,040
Depreciation
Charge for the year 5,014 2,566 8,215 15,795
At 29 February 2024 5,014 2,566 8,215 15,795
Net book value
At 29 February 2024 55,156 28,229 32,860 116,245
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 13,952 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest (2,002) 4,645
Taxation and social security costs 1,385 1,468
13,335 6,113
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 35,833 42,090
Obligations under finance lease and hire purchase contracts 74,402 -
Trade creditors 8,574 12,652
Amounts owed to group undertakings and undertakings in which the company has a participating interest 80,000 110,000
Other creditors 276,607 171,607
475,416 336,349
7 Other information
NG Cellar Ltd is a private company limited by shares and incorporated in England. Its registered office is:
188 Ridgway Road
Sheffield
S12 2TA
NG Cellar Ltd 13222431 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts April 2022 Mr N Arunthavanathan No description of principal activity 13222431 2022-03-01 2023-02-28 13222431 core:WithinOneYear 2023-02-28 13222431 core:AfterOneYear 2023-02-28 13222431 core:ShareCapital 2023-02-28 13222431 core:RetainedEarningsAccumulatedLosses 2023-02-28 13222431 2023-03-01 2024-02-29 13222431 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13222431 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13222431 bus:Director40 2023-03-01 2024-02-29 13222431 2 2023-03-01 2024-02-29 13222431 core:Goodwill 2023-03-01 2024-02-29 13222431 core:LandBuildings 2023-03-01 2024-02-29 13222431 core:PlantMachinery 2023-03-01 2024-02-29 13222431 core:Vehicles 2023-03-01 2024-02-29 13222431 countries:England 2023-03-01 2024-02-29 13222431 bus:FRS102 2023-03-01 2024-02-29 13222431 bus:FullAccounts 2023-03-01 2024-02-29 13222431 2024-02-29 13222431 core:WithinOneYear 2024-02-29 13222431 core:AfterOneYear 2024-02-29 13222431 core:ShareCapital 2024-02-29 13222431 core:RetainedEarningsAccumulatedLosses 2024-02-29 13222431 core:Goodwill 2024-02-29 13222431 core:LandBuildings 2024-02-29 13222431 core:PlantMachinery 2024-02-29 13222431 core:Vehicles 2024-02-29 13222431 2023-02-28 13222431 core:Goodwill 2023-02-28 iso4217:GBP xbrli:pure