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Registered number: 11148911
Next Gen Facades Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11148911
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 65 177
Tangible Assets 5 24,287 12,257
24,352 12,434
CURRENT ASSETS
Stocks 6 32,570 21,644
Debtors 7 464,149 335,644
Cash at bank and in hand 112,711 5,155
609,430 362,443
Creditors: Amounts Falling Due Within One Year 8 (240,928 ) (154,473 )
NET CURRENT ASSETS (LIABILITIES) 368,502 207,970
TOTAL ASSETS LESS CURRENT LIABILITIES 392,854 220,404
Creditors: Amounts Falling Due After More Than One Year 9 (4,070 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,072 ) (3,064 )
NET ASSETS 382,712 217,340
CAPITAL AND RESERVES
Called up share capital 10 200 200
Income Statement 382,512 217,140
SHAREHOLDERS' FUNDS 382,712 217,340
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Edward Walker
Director
28th March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Next Gen Facades Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11148911 . The registered office is Chalice House, Bromley Road, Elmstead, Colchester, Essex, CO7 7BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are trademarks.  They are amortised to income statement over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.5. Stocks and Work in Progress
Stocks are related to retentions on contracts.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 1)
7 1
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 560
As at 31 December 2024 560
Amortisation
As at 1 January 2024 383
Provided during the period 112
As at 31 December 2024 495
Net Book Value
As at 31 December 2024 65
As at 1 January 2024 177
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 - 11,500 1,498 5,112 18,110
Additions 7,359 5,000 2,015 5,752 20,126
As at 31 December 2024 7,359 16,500 3,513 10,864 38,236
Depreciation
As at 1 January 2024 - 2,875 725 2,253 5,853
Provided during the period 1,840 3,406 697 2,153 8,096
As at 31 December 2024 1,840 6,281 1,422 4,406 13,949
Net Book Value
As at 31 December 2024 5,519 10,219 2,091 6,458 24,287
As at 1 January 2024 - 8,625 773 2,859 12,257
6. Stocks
2024 2023
£ £
Retentions 32,570 21,644
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 191,649 92,363
Other debtors 272,500 243,281
464,149 335,644
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,802 -
Bank loans and overdrafts 14,131 28,202
Other creditors 47,378 83,390
Taxation and social security 172,617 42,881
240,928 154,473
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,070 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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