2023-04-012024-03-312024-03-31falseSC591389NA ABERDEEN 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NA ABERDEEN LTD

Registered Number
SC591389
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

NA ABERDEEN LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

ATWAL, Narinder Singh

Registered Address

First Floor
108 George Street
Edinburgh
EH2 4LH

Registered Number

SC591389 (Scotland)
NA ABERDEEN LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3385,644463,260
Tangible assets4106,944131,320
Investments5104104
492,692594,684
Current assets
Stocks615,20415,243
Debtors7163,389113,155
Cash at bank and on hand45,02460,440
223,617188,838
Creditors amounts falling due within one year8(957,242)(926,813)
Net current assets (liabilities)(733,625)(737,975)
Total assets less current liabilities(240,933)(143,291)
Creditors amounts falling due after one year9(35,022)(39,636)
Provisions for liabilities11(25,357)(20,937)
Net assets(301,312)(203,864)
Capital and reserves
Called up share capital100100
Profit and loss account(301,412)(203,964)
Shareholders' funds(301,312)(203,864)
The financial statements were approved and authorised for issue by the Director on 18 March 2025, and are signed on its behalf by:
ATWAL, Narinder Singh
Director
Registered Company No. SC591389
NA ABERDEEN LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on a going concern basis even though at the balance sheet date the company's net liabilities exceeded its net assets by £301,312 (2023: £203,864). The director considers the going concern basis to be appropriate because in his opinion, the company will obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill are being amortised at 10% on cost. Patents and licences are being amortised evenly over their estimated useful life of 10 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings10-
Fixtures and fittings-25
Investments
Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised in profit or loss.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized. Classification of financial liabilities 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 company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 April 23730,63945,525776,164
At 31 March 24730,63945,525776,164
Amortisation and impairment
At 01 April 23292,07120,833312,904
Charge for year73,0644,55277,616
At 31 March 24365,13525,385390,520
Net book value
At 31 March 24365,50420,140385,644
At 31 March 23438,56824,692463,260
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 April 23143,573160,223303,796
Additions-9,2029,202
At 31 March 24143,573169,425312,998
Depreciation and impairment
At 01 April 2379,93092,546172,476
Charge for year14,35719,22133,578
At 31 March 2494,287111,767206,054
Net book value
At 31 March 2449,28657,658106,944
At 31 March 2363,64367,677131,320
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 23104104
At 31 March 24104104
Net book value
At 31 March 24104104
At 31 March 23104104

Notes

1Investments in group undertakings and participating interests
6.Stocks

2024

2023

££
Finished goods15,20415,243
Total15,20415,243
7.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings-11,128
Other debtors115,09162,871
Prepayments and accrued income48,29839,156
Total163,389113,155
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables363,056257,830
Bank borrowings and overdrafts14,41945,000
Taxation and social security2,2613,051
Finance lease and HP contracts5,134-
Other creditors543,061540,939
Accrued liabilities and deferred income29,31179,993
Total957,242926,813
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts32,46539,636
Other creditors2,557-
Total35,02239,636
Included within creditors falling due within one year and creditors falling due after more than one year is £35,218(2023: £37,970) in respect of a bank loan which is guaranteed by the government under Coronavirus Business Interruption Loan Scheme. Included within creditors falling due within one year is £11,667(2023: £46,667) in respect of a bank loan from Bank of Scotland which is secured by a floating charge over present and future assets of the company.
10.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts2,557-
LEASING AGREEMENTS: Minimum lease payments under non-cancellable leases fall due as follows: Due within one year: £5,134 (2023: Nil) Due after one year: £2,557 (2023: Nil)
11.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)25,35720,937
Total25,35720,937
12.Other commitments
LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £154,333 (2023: £154,333)
13.Related party transactions
Included in other debtors falling due within one year are due from companies connected to the director. NA Edinburgh Ltd £16,000 (2023: £16,000); HWS (Edinburgh) Ltd £47,000 (2023: £17,000); Jedco Ltd £11,272 (2023: £11,272) Hadplaid Ltd acts as management company for NA Aberdeen Ltd. The management charges amounting to £707,565 (2023: £643,830) recorded in accounts are paid to Hadplaid Ltd. Included in other creditors falling due within one year is due to companies connected to the director. HA Aberdeen Ltd £63,557 (2023: £63,557); Hadplaid Limited £271,746 (2023: £223,875); Nalmond Ltd £20,000 (2023: £20,000), H & N Holdings Ltd £30,000 (2023: £30,000); HA Fife Ltd £20,000 (2023: £20,000) Included in other creditors is the amount due to the close relatives of the director H Atwal £120,000 (2023: £175,000) and J Atwal £1,231 (2023: £23,731)