NORFOLK DRY WALL (ESSEX) LIMITED

Company Registration Number:
04282216 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

NORFOLK DRY WALL (ESSEX) LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Notes

NORFOLK DRY WALL (ESSEX) LIMITED

Balance sheet

As at 30 September 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 264,803 220,446
Total fixed assets: 264,803 220,446
Current assets
Stocks: 157,372 110,392
Debtors:   1,138,478 908,887
Cash at bank and in hand: 12,035 196,820
Total current assets: 1,307,885 1,216,099
Creditors: amounts falling due within one year:   (545,026) (504,703)
Net current assets (liabilities): 762,859 711,396
Total assets less current liabilities: 1,027,662 931,842
Creditors: amounts falling due after more than one year:   (84,320) (87,551)
Provision for liabilities: (35,017) (26,590)
Total net assets (liabilities): 908,325 817,701
Capital and reserves
Called up share capital: 99 99
Profit and loss account: 908,226 817,602
Shareholders funds: 908,325 817,701

The notes form part of these financial statements

NORFOLK DRY WALL (ESSEX) LIMITED

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 November 2024
and signed on behalf of the board by:

Name: S V C Scott
Status: Director

The notes form part of these financial statements

NORFOLK DRY WALL (ESSEX) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful life of that asset as follows: Freehold property - No depreciation Plant and machinery - 15% per month of net book value Office equipment - 10% per month of net book value Motor vehicles - 25% per month of net book value Fixtures & fittings - 10% per month of net book value If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Other accounting policies

Basis of preparation: The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Taxation: The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Tangible assets: Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses. Stocks: Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Financial instruments: A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Defined contribution plans: Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

NORFOLK DRY WALL (ESSEX) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

2. Employees

2024 2023
Average number of employees during the period 11 11

NORFOLK DRY WALL (ESSEX) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible Assets

Total
Cost £
At 01 October 2023 413,718
Additions 87,432
Disposals (18,375)
At 30 September 2024 482,775
Depreciation
At 01 October 2023 193,272
Charge for year 36,330
On disposals (11,630)
At 30 September 2024 217,972
Net book value
At 30 September 2024 264,803
At 30 September 2023 220,446

NORFOLK DRY WALL (ESSEX) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Loans to directors

Name of director receiving advance or credit: S V C Scott
Description of the loan: During the year the director entered into the following advances and credits with the company.
£
Balance at 01 October 2023 6,010
Advances or credits repaid: 2,700
Balance at 30 September 2024 3,310

NORFOLK DRY WALL (ESSEX) LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Related party transactions

During the year the company has had business transactions with Norfolk Dry Wall Limited, a company in which two of the directors, Peter James George and Matthew Paul Gilchrist, are also directors. As at 30 September 2024 Norfolk Dry Wall Limited owed Norfolk Dry Wall (Essex) Limited £7,151 (2023: £5,521) in relation to these transactions.