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Company Registration number: 04261434

Northern Construction & Security Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 30 April 2024

 

Northern Construction & Security Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 8

 

Northern Construction & Security Limited

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

16,976

21,986

Current assets

 

Stocks

6

44,357

95,902

Debtors

7

175,296

317,084

Cash at bank and in hand

 

159,963

7,338

 

379,616

420,324

Creditors: Amounts falling due within one year

8

(247,737)

(227,238)

Net current assets

 

131,879

193,086

Total assets less current liabilities

 

148,855

215,072

Creditors: Amounts falling due after more than one year

8

(12,231)

(22,435)

Provisions for liabilities

(3,225)

(4,177)

Net assets

 

133,399

188,460

Capital and reserves

 

Called up share capital

310

310

Retained earnings

133,089

188,150

Shareholders' funds

 

133,399

188,460

 

Northern Construction & Security Limited

Balance Sheet as at 30 April 2024 (continued)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 04261434

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
Mr M E Lightfoot
Director

 

Northern Construction & Security Limited

Notes to the financial statements for the Year Ended 30 April 2024

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Bothy
Denton Holme Trading Estate
Chapel Place
Carlisle
CA2 5DF
 

These financial statements were authorised for issue by the Board on 20 August 2024.

2

ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

 

Northern Construction & Security Limited

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

The current corporate tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% straight line

 

Northern Construction & Security Limited

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

4

PROFIT BEFORE TAX

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

5,009

6,850

 

Northern Construction & Security Limited

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

5

TANGIBLE ASSETS

Plant and machinery
£

Fixtures and fittings
 £

Motor vehicles
 £

Office equipment
 £

Total
£

Cost or valuation

At 1 May 2023

21,723

11,764

52,950

31,056

117,493

At 30 April 2024

21,723

11,764

52,950

31,056

117,493

Depreciation

At 1 May 2023

17,943

6,335

40,915

30,315

95,508

Charge for the year

756

814

3,009

430

5,009

At 30 April 2024

18,699

7,149

43,924

30,745

100,517

Carrying amount

At 30 April 2024

3,024

4,615

9,026

311

16,976

At 30 April 2023

3,780

5,430

12,035

741

21,986

 

Northern Construction & Security Limited

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

6

STOCKS

2024
£

2023
£

Work in progress

32,201

83,857

Stocks

12,156

12,045

44,357

95,902

7

DEBTORS

Current

2024
£

2023
£

Trade debtors

69,588

165,354

Prepayments

3,371

3,670

Other debtors

102,337

148,060

 

175,296

317,084

8

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

47,200

43,471

Trade creditors

142,005

136,608

Taxation and social security

47,616

32,642

Accruals and deferred income

3,542

5,150

Other creditors

7,374

9,367

247,737

227,238


Included within creditors: amounts falling due within one year is £36,997 (2023: £33,519) bank loans and overdrafts which are secured on the assets of the company.

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

12,231

22,435

 

Northern Construction & Security Limited

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

9

RELATED PARTY TRANSACTIONS

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Mr M E Lightfoot

Director's loan account

65,225

45,288

(65,225)

45,288

Mrs L A Lightfoot

Director's loan account

65,225

45,288

(65,225)

45,288

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr M E Lightfoot

Director's loan account

58,053

65,225

(58,053)

65,225

Mrs L A Lightfoot

Director's loan account

58,053

65,225

(58,053)

65,225