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Registered number: 13676747
N A B CONTRACTOR LTD
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 October 2024
A & CO ACCOUNTANTS
Contents
Page
Company Information 1
Director's Report 2
Profit and Loss Account 3
Balance Sheet 4
Statement of Changes in Equity 5
Notes to the Financial Statements 6—7
Page 1
Company Information
Director Mr Alin-Bogdan Busi
Company Number 13676747
Registered Office Unit 11 Mill Farm Business Park
Millfield Road
Hounslow
Middlesex
TW4 5PY
Accountants A & CO ACCOUNTANTS
ACPA
42 MILTON ROAD
STRETFORD
MANCHESTER
M32 0TQ
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 31 October 2024.
Directors
The director who held office during the year were as follows:
Mr Alin-Bogdan Busi
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Alin-Bogdan Busi
Director
08/01/2025
Page 2
Page 3
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 6,646,534 3,190,832
Cost of sales (6,191,973 ) (2,964,421 )
GROSS PROFIT 454,561 226,411
Administrative expenses (226,118 ) (119,577 )
OPERATING PROFIT AND PROFIT BEFORE TAXATION 228,443 106,834
Tax on Profit (56,649 ) (22,804 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 171,794 84,030
The notes on pages 6 to 7 form part of these financial statements.
Page 3
Page 4
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 523 -
523 -
CURRENT ASSETS
Debtors 5 660,694 179,592
Cash at bank and in hand 28,002 64,202
688,696 243,794
Creditors: Amounts Falling Due Within One Year 6 (426,723 ) (153,092 )
NET CURRENT ASSETS (LIABILITIES) 261,973 90,702
TOTAL ASSETS LESS CURRENT LIABILITIES 262,496 90,702
NET ASSETS 262,496 90,702
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 262,494 90,700
SHAREHOLDERS' FUNDS 262,496 90,702
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Alin-Bogdan Busi
Director
08/01/2025
The notes on pages 6 to 7 form part of these financial statements.
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Page 5
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 November 2022 2 6,670 6,672
Profit for the year and total comprehensive income - 84,030 84,030
As at 31 October 2023 and 1 November 2023 2 90,700 90,702
Profit for the year and total comprehensive income - 171,794 171,794
As at 31 October 2024 2 262,494 262,496
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Page 6
Notes to the Financial Statements
1. General Information
N A B CONTRACTOR LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13676747 . The registered office is Unit 11 Mill Farm Business Park, Millfield Road, Hounslow, Middlesex, TW4 5PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20%
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 November 2023 -
Additions 654
As at 31 October 2024 654
Depreciation
As at 1 November 2023 -
Provided during the period 131
As at 31 October 2024 131
Net Book Value
As at 31 October 2024 523
As at 1 November 2023 -
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 650,721 99,089
Prepayments and accrued income - 80,503
Other debtors 9,973 -
660,694 179,592
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 308,978 100,295
Corporation tax 56,649 22,804
Other taxes and social security 53,596 20,713
Accruals and deferred income 7,500 -
Director's loan account - 9,280
426,723 153,092
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 7