Registered number
11671370
National Quarries Industrial Services Ltd
Report and Accounts
30 November 2024
National Quarries Industrial Services Ltd
Registered number: 11671370
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 801,618 672,867
Current assets
Debtors 4 924,463 599,768
Cash at bank and in hand 342,044 405,828
1,266,507 1,005,596
Creditors: amounts falling due within one year 5 (951,940) (777,471)
Net current assets 314,567 228,125
Total assets less current liabilities 1,116,185 900,992
Creditors: amounts falling due after more than one year 6 (159,841) (232,476)
Net assets 956,344 668,516
Capital and reserves
Called up share capital 1 1
Share premium (69,999) (69,999)
Revaluation reserve 7 587,000 587,000
Profit and loss account 439,342 151,514
Shareholders' funds 956,344 668,516
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paula Ann Nash
Director
Approved by the board on 4 February 2025
National Quarries Industrial Services Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 5% reducing balance
Motor Vehicles 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 40 43
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 758,514 58,500 817,014
Additions - 166,270 166,270
At 30 November 2024 758,514 224,770 983,284
Depreciation
At 1 December 2023 140,247 3,900 144,147
Charge for the year 30,913 6,606 37,519
At 30 November 2024 171,160 10,506 181,666
Net book value
At 30 November 2024 587,354 214,264 801,618
At 30 November 2023 618,267 54,600 672,867
4 Debtors 2024 2023
£ £
Trade debtors 834,519 542,152
Prepayments - 2,000
Nash Asset Holdings Ltd - 38,800
Net Wages 5,250 4,098
Deposits paid 68,025 -
Directors loans 4,301 350
Other debtors 12,368 12,368
924,463 599,768
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 124,562 86,946
Corporation tax 74,758 5,910
Accruals 1,800 2,500
Paye & National insurance 63,030 31,282
HM Customs & Excise 149,784 115,641
Pension fund 6,122 4,706
Bibby Trust account 511,080 510,216
Bounce back loan 10,000 10,000
Other creditors 10,804 10,270
951,940 777,471
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 152,363 214,913
Bounce back loan 7,478 17,563
159,841 232,476
7 Revaluation reserve 2024 2023
£ £
At 1 December 2023 587,000 587,000
At 30 November 2024 587,000 587,000
8 Other information
National Quarries Industrial Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
6 Portal Business Park Suite 3 & 4
Eaton Lane
Tarporley
West Cheshire & Chester
CW6 9DL
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