Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01falseNo description of principal activity23falsetruefalse 03359571 2023-05-01 2024-04-30 03359571 2022-05-01 2023-04-30 03359571 2024-04-30 03359571 2023-04-30 03359571 c:Director1 2023-05-01 2024-04-30 03359571 c:RegisteredOffice 2023-05-01 2024-04-30 03359571 d:MotorVehicles 2023-05-01 2024-04-30 03359571 d:MotorVehicles 2024-04-30 03359571 d:MotorVehicles 2023-04-30 03359571 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03359571 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 03359571 d:FurnitureFittings 2023-05-01 2024-04-30 03359571 d:FurnitureFittings 2024-04-30 03359571 d:FurnitureFittings 2023-04-30 03359571 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03359571 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 03359571 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03359571 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 03359571 d:CurrentFinancialInstruments 2024-04-30 03359571 d:CurrentFinancialInstruments 2023-04-30 03359571 d:Non-currentFinancialInstruments 2024-04-30 03359571 d:Non-currentFinancialInstruments 2023-04-30 03359571 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03359571 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03359571 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03359571 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03359571 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 03359571 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 03359571 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 03359571 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 03359571 d:ShareCapital 2024-04-30 03359571 d:ShareCapital 2023-04-30 03359571 d:RetainedEarningsAccumulatedLosses 2024-04-30 03359571 d:RetainedEarningsAccumulatedLosses 2023-04-30 03359571 c:FRS102 2023-05-01 2024-04-30 03359571 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03359571 c:FullAccounts 2023-05-01 2024-04-30 03359571 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03359571 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 03359571 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 03359571 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 03359571 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 03359571 d:HirePurchaseContracts d:MoreThanFiveYears 2024-04-30 03359571 d:HirePurchaseContracts d:MoreThanFiveYears 2023-04-30 03359571 2 2023-05-01 2024-04-30 03359571 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-30 03359571 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 03359571 d:LeasedAssetsHeldAsLessee 2024-04-30 03359571 d:LeasedAssetsHeldAsLessee 2023-04-30 03359571 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Company registration number: 03359571







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024


NAD INSULATIONS LIMITED






































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NAD INSULATIONS LIMITED
 


 
COMPANY INFORMATION


Director
N A Carter 




Registered number
03359571



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

Surrey

TW18 4BP




Trading Address
2 Old School Court

Wraysbury

Berkshire

TW19 5BP






Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


NAD INSULATIONS LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 


NAD INSULATIONS LIMITED
REGISTERED NUMBER:03359571



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
87,990
33,116

  
87,990
33,116

Current assets
  

Stocks
  
17,448
3,928

Debtors: amounts falling due within one year
 5 
233,966
154,570

Cash at bank and in hand
  
12,423
6,310

  
263,837
164,808

Creditors: amounts falling due within one year
 6 
(177,854)
(128,113)

Net current assets
  
 
 
85,983
 
 
36,695

Total assets less current liabilities
  
173,973
69,811

Creditors: amounts falling due after more than one year
 7 
(49,020)
(21,667)

Provisions for liabilities
  

Deferred tax
  
(7,778)
(7,590)

  
 
 
(7,778)
 
 
(7,590)

Net assets
  
117,175
40,554


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
117,075
40,454

  
117,175
40,554


Page 1

 


NAD INSULATIONS LIMITED
REGISTERED NUMBER:03359571


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N A Carter
Director

Date: 28 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


NAD INSULATIONS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

NAD Insulations Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address and principal place of business can be found on the company information page. The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. There have been no siginicant judgements or estimates used by management in assessing this basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 


NAD INSULATIONS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

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

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 


NAD INSULATIONS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 3).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 May 2023
54,623
6,102
60,725


Additions
66,204
1,086
67,290



At 30 April 2024

120,827
7,188
128,015



Depreciation


At 1 May 2023
23,696
3,913
27,609


Charge for the year on owned assets
7,731
547
8,278


Charge for the year on financed assets
4,138
-
4,138



At 30 April 2024

35,565
4,460
40,025



Net book value



At 30 April 2024
85,262
2,728
87,990



At 30 April 2023
30,927
2,189
33,116

Page 5

 


NAD INSULATIONS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
62,066
-

62,066
-


5.


Debtors

2024
2023
£
£


Trade debtors
205,209
130,022

Other debtors
24,400
20,200

Prepayments and accrued income
4,357
4,348

233,966
154,570



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
120,850
86,533

Corporation tax
24,888
-

Other taxation and social security
4,988
2,720

Obligations under finance lease and hire purchase contracts
13,471
-

Other creditors
2
24,735

Accruals and deferred income
3,655
4,125

177,854
128,113



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,667
21,667

Net obligations under finance leases and hire purchase contracts
37,353
-

49,020
21,667


Page 6

 


NAD INSULATIONS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
1,667
11,667


1,667
11,667


21,667
31,667


The Bank loan is secured by the U.K. Government under the Bounce Back Loan Scheme.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
13,471
-

Between 1-5 years
14,589
-

Over 5 years
22,764
-

50,824
-

The Hire Purchase liability is secured over the tangible fixed assets to which they pertain.

 
Page 7