Company registration number 00493935 (England and Wales)
NBT GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NBT GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
NBT GROUP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,747
4,020
Tangible assets
4
168,854
251,749
171,601
255,769
Current assets
Stocks
189,884
224,398
Debtors
5
2,360,306
2,557,850
Cash at bank and in hand
49,192
69,257
2,599,382
2,851,505
Creditors: amounts falling due within one year
6
(1,978,890)
(2,404,278)
Net current assets
620,492
447,227
Total assets less current liabilities
792,093
702,996
Creditors: amounts falling due after more than one year
7
(24,667)
(119,028)
Net assets
767,426
583,968
Capital and reserves
Called up share capital
424,109
424,109
Share premium account
111,874
111,874
Capital redemption reserve
27,871
27,871
Profit and loss reserves
203,572
20,114
Total equity
767,426
583,968
NBT GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 January 2025 and are signed on its behalf by:
Ms CL Fisk
Director
Company registration number 00493935 (England and Wales)
NBT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

NBT Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Albrecht House, Locomotion Way, Camperdown Industrial Estate , Killingworth, Newcastle upon Tyne, Tyne and Wear, NE12 5US.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts are prepared on a going concern basis. The directors have considered a period of 12 months from the date of the accounts are approved.true

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 

Turnover is recognised when goods are despatched or supplied to the relevant customer.

1.4
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

1.5
Intangible fixed assets other than goodwill

Website development

Website development costs are costs associated with the development of the company website and are being amortised evenly over the asset's estimated useful life of ten years.

 

Intellectual property
Over estimated useful life of five years
Website development costs
Over estimated useful life of ten years
1.6
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
at varying rates on cost
Fixtures and fittings
25% straight line
Computer equipment
25% straight line
Motor vehicles
25% straight line
NBT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

Plant and machinery includes hardware costs, for which depreciation is provided straight line over the machines useful life of seven years. All other plant and machinery is depreciated at a rate of 20% straight line.

1.7
Impairment of fixed assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared the the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.8
Stocks

Stocks 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 formula.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

NBT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end 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 the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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.

1.13
Employee benefits

The company operates a defined benefit pension scheme. The regular pension cost is charged to the profit and loss account and is based on the expected pension cost over the service life of the employees.

 

The company also contributes to a Small Self - Administered pension scheme in respect of the directors. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

NBT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.15
Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

1.16

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.

1.17

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
21
23
NBT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
3
Intangible fixed assets
Goodwill
Intellectual property
Website development costs
Total
£
£
£
£
Cost
At 1 January 2024 and 31 December 2024
30,495
15,333
70,133
115,961
Amortisation and impairment
At 1 January 2024
30,495
15,333
66,113
111,941
Amortisation charged for the year
-
0
-
0
1,273
1,273
At 31 December 2024
30,495
15,333
67,386
113,214
Carrying amount
At 31 December 2024
-
0
-
0
2,747
2,747
At 31 December 2023
-
0
-
0
4,020
4,020
4
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
450,384
12,185
117,197
22,790
602,556
Additions
-
0
-
0
1,690
-
0
1,690
Disposals
(18,000)
-
0
-
0
-
0
(18,000)
At 31 December 2024
432,384
12,185
118,887
22,790
586,246
Depreciation and impairment
At 1 January 2024
212,844
6,092
109,081
22,790
350,807
Depreciation charged in the year
57,642
3,047
7,846
-
0
68,535
Eliminated in respect of disposals
(1,950)
-
0
-
0
-
0
(1,950)
At 31 December 2024
268,536
9,139
116,927
22,790
417,392
Carrying amount
At 31 December 2024
163,848
3,046
1,960
-
0
168,854
At 31 December 2023
237,540
6,093
8,116
-
0
251,749

 

NBT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
826,420
1,103,116
Amounts owed by group undertakings
1,284,734
1,050,308
Other debtors
49,641
116,778
2,160,795
2,270,202
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
199,511
287,648
Total debtors
2,360,306
2,557,850
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
101,404
59,200
Obligations under finance leases
-
0
2,657
Other borrowings
705,438
1,070,945
Trade creditors
687,077
1,177,317
Amounts owed to group undertakings
416,797
-
0
Taxation and social security
57,471
66,680
Other creditors
-
0
17,603
Accruals and deferred income
10,703
9,876
1,978,890
2,404,278
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
24,667
83,867
Other borrowings
-
0
35,161
24,667
119,028
8
Ultimate controlling party

The company's ultimate holding company is Albrecht, Bridges and Co Limited, a company incorporated in England and Wales.

2024-12-312024-01-01false23 January 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr M H BridgesMr T M BridgesMs C L FiskMr TM Bridgesfalsefalse004939352024-01-012024-12-31004939352024-12-31004939352023-12-3100493935core:Goodwill2024-12-3100493935core:PatentsTrademarksLicencesConcessionsSimilar2024-12-3100493935core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-12-3100493935core:Goodwill2023-12-3100493935core:PatentsTrademarksLicencesConcessionsSimilar2023-12-3100493935core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-3100493935core:PlantMachinery2024-12-3100493935core:FurnitureFittings2024-12-3100493935core:ComputerEquipment2024-12-3100493935core:MotorVehicles2024-12-3100493935core:PlantMachinery2023-12-3100493935core:FurnitureFittings2023-12-3100493935core:ComputerEquipment2023-12-3100493935core:MotorVehicles2023-12-3100493935core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3100493935core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3100493935core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3100493935core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3100493935core:CurrentFinancialInstruments2024-12-3100493935core:CurrentFinancialInstruments2023-12-3100493935core:Non-currentFinancialInstruments2024-12-3100493935core:Non-currentFinancialInstruments2023-12-3100493935core:ShareCapital2024-12-3100493935core:ShareCapital2023-12-3100493935core:SharePremium2024-12-3100493935core:SharePremium2023-12-3100493935core:CapitalRedemptionReserve2024-12-3100493935core:CapitalRedemptionReserve2023-12-3100493935core:RetainedEarningsAccumulatedLosses2024-12-3100493935core:RetainedEarningsAccumulatedLosses2023-12-3100493935bus:Director22024-01-012024-12-3100493935core:Goodwill2024-01-012024-12-3100493935core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3100493935core:PatentsTrademarksLicencesConcessionsSimilar2024-01-012024-12-3100493935core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-01-012024-12-3100493935core:PlantMachinery2024-01-012024-12-3100493935core:FurnitureFittings2024-01-012024-12-3100493935core:ComputerEquipment2024-01-012024-12-3100493935core:MotorVehicles2024-01-012024-12-31004939352023-01-012023-12-3100493935core:Goodwill2023-12-3100493935core:PatentsTrademarksLicencesConcessionsSimilar2023-12-3100493935core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-31004939352023-12-3100493935core:PlantMachinery2023-12-3100493935core:FurnitureFittings2023-12-3100493935core:ComputerEquipment2023-12-3100493935core:MotorVehicles2023-12-3100493935core:WithinOneYear2024-12-3100493935core:WithinOneYear2023-12-3100493935core:AfterOneYear2024-12-3100493935core:AfterOneYear2023-12-3100493935bus:PrivateLimitedCompanyLtd2024-01-012024-12-3100493935bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3100493935bus:FRS1022024-01-012024-12-3100493935bus:AuditExemptWithAccountantsReport2024-01-012024-12-3100493935bus:Director12024-01-012024-12-3100493935bus:Director32024-01-012024-12-3100493935bus:CompanySecretary12024-01-012024-12-3100493935bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP