1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 14,054 32,616 103,225 7,750 110,975 67,560 10,854 78,414 32,561 35,665 xbrli:pure xbrli:shares iso4217:GBP 04779476 2023-06-01 2024-05-31 04779476 2024-05-31 04779476 2023-05-31 04779476 2022-06-01 2023-05-31 04779476 2023-05-31 04779476 2022-05-31 04779476 core:PlantMachinery 2023-06-01 2024-05-31 04779476 bus:RegisteredOffice 2023-06-01 2024-05-31 04779476 bus:Director1 2023-06-01 2024-05-31 04779476 core:PlantMachinery 2023-05-31 04779476 core:PlantMachinery 2024-05-31 04779476 core:WithinOneYear 2024-05-31 04779476 core:WithinOneYear 2023-05-31 04779476 core:RetainedEarningsAccumulatedLosses 2023-05-31 04779476 core:RetainedEarningsAccumulatedLosses 2022-05-31 04779476 core:RetainedEarningsAccumulatedLosses 2024-05-31 04779476 core:RetainedEarningsAccumulatedLosses 2023-05-31 04779476 core:ShareCapital 2024-05-31 04779476 core:ShareCapital 2023-05-31 04779476 core:PlantMachinery 2023-05-31 04779476 bus:SmallEntities 2023-06-01 2024-05-31 04779476 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04779476 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04779476 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04779476 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 04779476
Northwest Industrial Services Ltd
Unaudited Financial Statements
31 May 2024
Northwest Industrial Services Ltd
Financial Statements
Year ended 31 May 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
Northwest Industrial Services Ltd
Director's Report
Year ended 31 May 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 May 2024 .
Director
The director who served the company during the year was as follows:
Mr S Butler
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 February 2025 and signed on behalf of the board by:
Mr S Butler
Director
Registered office:
East View
Fleetwood Road
Greenhalgh
Preston
PR4 3ZA
Northwest Industrial Services Ltd
Statement of Income and Retained Earnings
Year ended 31 May 2024
2024
2023
Note
£
£
Turnover
177,688
201,938
Cost of sales
113,231
164,233
---------
---------
Gross profit
64,457
37,705
Distribution costs
10,236
9,100
Administrative expenses
68,275
61,221
--------
--------
Operating loss
( 14,054)
( 32,616)
--------
--------
Loss before taxation
5
( 14,054)
( 32,616)
Tax on loss
--------
--------
Loss for the financial year and total comprehensive income
( 14,054)
( 32,616)
--------
--------
Retained earnings at the start of the year
177,232
209,848
---------
---------
Retained earnings at the end of the year
163,178
177,232
---------
---------
All the activities of the company are from continuing operations.
Northwest Industrial Services Ltd
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
32,561
35,665
Current assets
Stocks
1,500
1,500
Debtors
7
62,589
52,907
Cash at bank and in hand
124,367
138,374
---------
---------
188,456
192,781
Creditors: amounts falling due within one year
8
57,837
51,212
---------
---------
Net current assets
130,619
141,569
---------
---------
Total assets less current liabilities
163,180
177,234
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
163,178
177,232
---------
---------
Shareholders funds
163,180
177,234
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 February 2025 , and are signed on behalf of the board by:
Mr S Butler
Director
Company registration number: 04779476
Northwest Industrial Services Ltd
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is East View, Fleetwood Road, Greenhalgh, Preston, PR4 3ZA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
10,854
13,512
--------
--------
6. Tangible assets
Plant and machinery
£
Cost
At 1 June 2023
103,225
Additions
7,750
---------
At 31 May 2024
110,975
---------
Depreciation
At 1 June 2023
67,560
Charge for the year
10,854
---------
At 31 May 2024
78,414
---------
Carrying amount
At 31 May 2024
32,561
---------
At 31 May 2023
35,665
---------
7. Debtors
2024
2023
£
£
Trade debtors
62,589
45,184
Other debtors
7,723
--------
--------
62,589
52,907
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
27,833
23,565
Amounts owed to group undertakings and undertakings in which the company has a participating interest
24,921
27,272
Social security and other taxes
4,683
Other creditors
400
375
--------
--------
57,837
51,212
--------
--------
9. Related party transactions
The company was under the control of Mr Butler throughout the current and previous year. Mr Buter is the managing director and majority shareholder.