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REGISTERED NUMBER: 01548710 (England and Wales)













Financial Statements

for the Year Ended 30 June 2024

for

NDC Group Ltd

NDC Group Ltd (Registered number: 01548710)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


NDC Group Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr R M Overton
Miss S Bray



SECRETARY: Miss S Bray



REGISTERED OFFICE: Wellingore Hall
Hall Street
Wellingore
LINCOLN
Lincolnshire
LN5 0HX



REGISTERED NUMBER: 01548710 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: NatWest
97 Lumley Road
SKEGNESS
Lincolnshire
PE25 3LY

NDC Group Ltd (Registered number: 01548710)

Abridged Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,662 100,704
Investments 5 2,078,550 2,078,550
2,213,212 2,179,254

CURRENT ASSETS
Stocks 3,026,130 746,067
Debtors: amounts falling due within
one year

2,130,807

2,671,173
Debtors: amounts falling due after
more than one year

6

-

104,262
Cash at bank and in hand 27,365 37,394
5,184,302 3,558,896
CREDITORS
Amounts falling due within one year 1,850,460 224,822
NET CURRENT ASSETS 3,333,842 3,334,074
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,547,054

5,513,328

CREDITORS
Amounts falling due after more than
one year

(24,200

)

-

PROVISIONS FOR LIABILITIES (66,208 ) (36,789 )
NET ASSETS 5,456,646 5,476,539

CAPITAL AND RESERVES
Called up share capital 137,500 137,500
Share premium 207,204 207,204
Retained earnings 5,111,942 5,131,835
SHAREHOLDERS' FUNDS 5,456,646 5,476,539

NDC Group Ltd (Registered number: 01548710)

Abridged Statement of Financial Position - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 March 2025 and were signed on its behalf by:





Mr R M Overton - Director


NDC Group Ltd (Registered number: 01548710)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

NDC Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about NDC Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the amount derived from the provision of goods and services falling within the company's ordinary activities after deduction of trade discounts and value added tax. Turnover is recognised at the date of completion in respect of speculative build and in accordance with the term of the underlying contract for other construction turnover.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

NDC Group Ltd (Registered number: 01548710)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

NDC Group Ltd (Registered number: 01548710)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance lease are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged against income on straight line basis over the lease term.

The company owns investment property for rental income. Rental income from operating leases is recognised on a straight-line basis over the term of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 321,001
Additions 75,927
Disposals (57,234 )
At 30 June 2024 339,694
DEPRECIATION
At 1 July 2023 220,297
Charge for year 15,171
Eliminated on disposal (30,436 )
At 30 June 2024 205,032
NET BOOK VALUE
At 30 June 2024 134,662
At 30 June 2023 100,704

NDC Group Ltd (Registered number: 01548710)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 74,600
At 30 June 2024 74,600
DEPRECIATION
Charge for year 3,730
At 30 June 2024 3,730
NET BOOK VALUE
At 30 June 2024 70,870

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 2,078,550
NET BOOK VALUE
At 30 June 2024 2,078,550
At 30 June 2023 2,078,550

Cost or valuation at 30 June 2024 is represented by:
Totals
£   
Valuation in 2024 417,450
Cost 1,661,100
2,078,550

NDC Group Ltd (Registered number: 01548710)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. FIXED ASSET INVESTMENTS - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,660,899 1,660,899
Aggregate provisions (432,334 ) (399,698 )

Investment properties were valued on an open market basis on 30 June 2024 by the directors .

If the investment properties were sold at this value there would be an additional charge to corporation tax of approximately £36,788 (2023- £36,788).

During the year investment properties valued at £1,711,335 (2023 - £1,711,335) were let under operating leases. Rent received for the year was £104,953 (2023- £105,510). The remaining properties of £367,014 (2023- £367,014) are equity share interests in owned properties.

The open market value is based on similar freehold properties in the area.

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Trade debtors - 104,262

NDC Group Ltd (Registered number: 01548710)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. RELATED PARTY DISCLOSURES

Mr R M Overton
Included in other creditors is a director's loan account balance of £1,464,584 (2023 - £29,325). This is an unsecured interest free loan.

During the year Mr R M Overton sold a plot of land into the company for £2m.

Miss S Bray
Included in other creditors is a director's loan account balance of £160,000 (2023 - £160,000). This is an unsecured loan. Interest has been charged at 4%.

C N Overton Limited
The above is a company in which Mr R M Overton owns 25% of the issued ordinary shares and CN Overton Holdings Ltd owns 75% of the issued ordinary shares.

- Included in amounts owed by group undertakings is a balance of £1,349,710 (2023 - £1,210,031).
This is an unsecured, interest free loan which is payable on demand.

C N Overton Holdings Limited
NDC Group Limited is a 100% subsidiary of the above company.
- Included in amounts owed by group undertakings is a balance of £153,500 (2023 - £212,000). This is an unsecured, interest free loan which is payable on demand.

Wellingore Estates Limited
The above company is wholly owned subsidiary of N D C Group Limited.

- Included in amounts owed from group undertakings is £449,535 (2023 - £460,085.) This is an unsecured, interest free loan which is payable on demand.


All related party sales and purchase transactions were undertaken at arms length and at market value.