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Company No: 09523095 (England and Wales)

NP ENGINEERING LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

NP ENGINEERING LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

NP ENGINEERING LIMITED

BALANCE SHEET

As at 30 April 2024
NP ENGINEERING LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 201,400 160,674
201,400 160,674
Current assets
Stocks 5 157,000 52,600
Debtors 6 278,416 282,009
Cash at bank and in hand 629,617 587,283
1,065,033 921,892
Creditors: amounts falling due within one year 7 ( 443,299) ( 398,526)
Net current assets 621,734 523,366
Total assets less current liabilities 823,134 684,040
Provision for liabilities ( 35,117) ( 23,386)
Net assets 788,017 660,654
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 787,917 660,554
Total shareholders' funds 788,017 660,654

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of NP Engineering Limited (registered number: 09523095) were approved and authorised for issue by the Board of Directors on 24 January 2025. They were signed on its behalf by:

Mr S N Pascoe
Director
NP ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
NP ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

NP Engineering Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Marzel, Sithney, Helston, TR13 0RN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 30 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 33 % reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 5

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 59,844 59,844
At 30 April 2024 59,844 59,844
Accumulated amortisation
At 01 May 2023 59,844 59,844
At 30 April 2024 59,844 59,844
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 May 2023 75,316 129,299 52,519 6,543 263,677
Additions 0 55,000 21,000 950 76,950
At 30 April 2024 75,316 184,299 73,519 7,493 340,627
Accumulated depreciation
At 01 May 2023 7,532 53,607 36,720 5,144 103,003
Charge for the financial year 2,510 26,944 6,256 514 36,224
At 30 April 2024 10,042 80,551 42,976 5,658 139,227
Net book value
At 30 April 2024 65,274 103,748 30,543 1,835 201,400
At 30 April 2023 67,784 75,692 15,799 1,399 160,674

5. Stocks

2024 2023
£ £
Stocks 157,000 52,600

6. Debtors

2024 2023
£ £
Trade debtors 276,665 280,596
Other debtors 1,751 1,413
278,416 282,009

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 53,989 63,036
Taxation and social security 67,424 68,395
Other creditors 321,886 267,095
443,299 398,526

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100 100