BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of this company is that of builders' merchants. 19 March 2025 22 20 NI013320 2023-12-31 NI013320 2022-12-31 NI013320 2021-12-31 NI013320 2023-01-01 2023-12-31 NI013320 2022-01-01 2022-12-31 NI013320 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI013320 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI013320 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI013320 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI013320 uk-bus:Director1 2023-01-01 2023-12-31 NI013320 uk-bus:Director2 2023-01-01 2023-12-31 NI013320 uk-bus:RegisteredOffice 2023-01-01 2023-12-31 NI013320 uk-bus:Agent1 2023-01-01 2023-12-31 NI013320 uk-core:ShareCapital 2023-12-31 NI013320 uk-core:ShareCapital 2022-12-31 NI013320 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI013320 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI013320 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI013320 uk-bus:FRS102 2023-01-01 2023-12-31 NI013320 uk-core:Buildings 2023-01-01 2023-12-31 NI013320 uk-core:PlantMachinery 2023-01-01 2023-12-31 NI013320 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI013320 uk-core:MotorVehicles 2023-01-01 2023-12-31 NI013320 uk-core:CostValuation 2023-12-31 NI013320 uk-core:CurrentFinancialInstruments 2023-12-31 NI013320 uk-core:CurrentFinancialInstruments 2022-12-31 NI013320 uk-core:WithinOneYear 2023-12-31 NI013320 uk-core:WithinOneYear 2022-12-31 NI013320 uk-core:AfterOneYear 2023-12-31 NI013320 uk-core:AfterOneYear 2022-12-31 NI013320 uk-core:AfterOneYear 2023-12-31 NI013320 uk-core:AfterOneYear 2022-12-31 NI013320 uk-core:BetweenTwoFiveYears 2023-12-31 NI013320 uk-core:BetweenTwoFiveYears 2022-12-31 NI013320 uk-core:BetweenOneFiveYears 2023-12-31 NI013320 uk-core:BetweenOneFiveYears 2022-12-31 NI013320 uk-core:EmployeeBenefits 2022-12-31 NI013320 uk-core:EmployeeBenefits 2023-01-01 2023-12-31 NI013320 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI013320 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 NI013320 uk-core:OtherDeferredTax 2023-12-31 NI013320 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 NI013320 uk-core:EmployeeBenefits 2023-12-31 NI013320 2023-01-01 2023-12-31 NI013320 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI013320
 
 
N.G. Bell & Son Limited
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2023
N.G. Bell & Son Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Graham Bell
Norman Bell
 
 
Company Registration Number NI013320
 
 
Registered Office 30 Greyabbey Road
Newtownards
County Down
BT23 5PZ
Northern Ireland
 
 
Business Address 30 Greyabbey Road
Ballywalter
BT22 2NY
United Kingdom
 
 
Accountants Muldoon & Co Chartered Accountants
16 Mount Charles
Belfast
Antrim
BT7 1NZ



N.G. Bell & Son Limited
DIRECTORS' REPORT
for the financial year ended 31 December 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 December 2023.
 
Principal Activity
The principal activity of this company is that of builders' merchants.
     
Results and Dividends
The profit for the financial year after providing for depreciation and taxation amounted to £50,655 (2022 - £157,149).
     
Directors
The directors who served during the financial year are as follows:
     
Graham Bell
Norman Bell
   
There were no changes in shareholdings between 31 December 2023 and the date of signing the financial statements.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________ ___________________________
Graham Bell Norman Bell
Director Director
     
19 March 2025 19 March 2025



N.G. Bell & Son Limited
Company Registration Number: NI013320
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
as restated
 
Fixed Assets
Tangible assets 5 1,382,032 1,149,511
Investments 6 39,195 39,195
───────── ─────────
Fixed Assets 1,421,227 1,188,706
───────── ─────────
 
Current Assets
Stocks 7 1,334,270 1,418,046
Debtors 8 1,068,759 1,100,486
Cash and cash equivalents 400,846 655,504
───────── ─────────
2,803,875 3,174,036
───────── ─────────
Creditors: amounts falling due within one year 9 (942,839) (1,004,876)
───────── ─────────
Net Current Assets 1,861,036 2,169,160
───────── ─────────
Total Assets less Current Liabilities 3,282,263 3,357,866
 
Creditors:
amounts falling due after more than one year 10 (598,444) (698,496)
 
Provisions for liabilities 12 (262,099) (264,305)
───────── ─────────
Net Assets 2,421,720 2,395,065
═════════ ═════════
 
Capital and Reserves
Called up share capital 10,000 10,000
Retained earnings 2,411,720 2,385,065
───────── ─────────
Equity attributable to owners of the company 2,421,720 2,395,065
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 19 March 2025 and signed on its behalf by
           
           
           
________________________________     ________________________________
Graham Bell     Norman Bell
Director     Director
           



N.G. Bell & Son Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
N.G. Bell & Son Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI013320. The registered office of the company is 30 Greyabbey Road, Newtownards, County Down, BT23 5PZ, Northern Ireland. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Short leasehold property - 5% Reducing balance
  Plant and machinery - 10% Reducing balance
  Fixtures, fittings and equipment - 15% Reducing balance
  Motor vehicles - 15% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Plant and machinery depreciation is based on the above rate, but some plant is based on 5% reducing balance.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 22, (2022 - 20).
 
  2023 2022
  Number Number
 
Employees 22 20
  ═════════ ═════════
   
4. Prior financial year error correction
 
The closing stock recorded in the accounts for the year ended 31 December 2022 was overstated by £210,000. The accounts for the year ended 31 December 202 have been restated via a prior year adjustment to reflect this.
             
5. Tangible assets
  Short Plant and Fixtures, Motor Total
  leasehold machinery fittings and vehicles  
  property   equipment    
  £ £ £ £ £
Cost
At 1 January 2023 232,275 2,118,389 212,694 46,861 2,610,219
Additions - 451,649 - 81,209 532,858
Disposals (42,053) (104,000) - (78,361) (224,414)
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 190,222 2,466,038 212,694 49,709 2,918,663
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 January 2023 145,098 1,123,913 178,040 13,657 1,460,708
Charge for the financial year 2,310 91,937 5,198 485 99,930
On disposals (1,075) (20,175) - (2,757) (24,007)
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 146,333 1,195,675 183,238 11,385 1,536,631
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 43,889 1,270,363 29,456 38,324 1,382,032
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 December 2022 87,177 994,476 34,654 33,204 1,149,511
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 December 2023 39,195 39,195
  ───────── ─────────
Net book value
At 31 December 2023 39,195 39,195
  ═════════ ═════════
At 31 December 2022 39,195 39,195
  ═════════ ═════════
       
7. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 1,334,270 1,418,046
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
8. Debtors 2023 2022
  £ £
 
Trade debtors 897,685 988,587
Other debtors 63,015 40,870
Taxation  (Note 11) 42,994 -
Prepayments and accrued income 48,379 11,508
Intercompany 16,686 59,521
  ───────── ─────────
  1,068,759 1,100,486
  ═════════ ═════════
       
9. Creditors 2023 2022
Amounts falling due within one year £ £
 
Trade creditors 821,712 751,296
Amounts owed to related parties (Note 14) 5,678 26,083
Taxation  (Note 11) 107,662 172,712
Directors' current accounts 286 551
Accruals 7,501 54,234
  ───────── ─────────
  942,839 1,004,876
  ═════════ ═════════
       
10. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 120,338 181,168
Finance leases and hire purchase contracts 478,106 517,328
  ───────── ─────────
  598,444 698,496
  ═════════ ═════════
 
Loans
Repayable between two and five years 120,338 181,168
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable between one and five years 478,106 517,328
  ═════════ ═════════
       
11. Taxation 2023 2022
  £ £
 
Debtors:
Corporation tax 42,994 -
  ═════════ ═════════
Creditors:
VAT 96,882 125,083
Corporation tax - 39,659
PAYE / NI 10,780 7,970
  ───────── ─────────
  107,662 172,712
  ═════════ ═════════
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 264,305 264,305 159,278
Charged to profit and loss (2,206) (2,206) 105,027
  ───────── ───────── ─────────
At financial year end 262,099 262,099 264,305
  ═════════ ═════════ ═════════
       
13. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
           
14. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
   
15. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.