Registered number
08066902
N C R Associates Limited
Report and Accounts
31 May 2024
Accountancy 4 Tax Savings Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
N C R Associates Limited
Registered number: 08066902
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,521 747
Current assets
Debtors 4 1,080 -
Cash at bank and in hand 92,397 83,493
93,477 83,493
Creditors: amounts falling due within one year 5 (73,988) (46,783)
Net current assets 19,489 36,710
Total assets less current liabilities 21,010 37,457
Creditors: amounts falling due after more than one year 6 (5,400) (10,800)
Provisions for liabilities (289) (142)
Net assets 15,321 26,515
Capital and reserves
Called up share capital 30 30
Profit and loss account 15,291 26,485
Shareholders' funds 15,321 26,515
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.
Miss N Reilly
Director
Approved by the board on 10 October 2024
N C R Associates Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 33% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 2,345
Additions 2,000
Disposals (1,399)
At 31 May 2024 2,946
Depreciation
At 1 June 2023 1,598
Charge for the year 760
On disposals (933)
At 31 May 2024 1,425
Net book value
At 31 May 2024 1,521
At 31 May 2023 747
4 Debtors 2024 2023
£ £
Trade debtors 1,080 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,400 5,400
Amounts owed to group undertakings and undertakings in which the company has a participating interest 40,619 25,671
Corporation tax 18,409 12,997
Other taxes and social security costs 9,560 2,715
73,988 46,783
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,400 10,800
7 Controlling party
The company is owned by N C R Holdings Limited which is ultimately under the control of the director.
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