NVP Trading Ltd
Registered number: 09672213
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 116,668 145,239
Tangible assets 4 62,372 74,340
179,040 219,579
Current assets
Stocks 40,875 54,398
Debtors 5 60,000 60,000
Cash at bank and in hand 54,816 36,186
155,691 150,584
Creditors: amounts falling due within one year 6 (16,574) (21,287)
Net current assets 139,117 129,297
Total assets less current liabilities 318,157 348,876
Creditors: amounts falling due after more than one year 7 (239,896) (262,107)
Net assets 78,261 86,769
Capital and reserves
Called up share capital 1 1
Profit and loss account 78,260 86,768
Shareholders' funds 78,261 86,769
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
0
Director
Approved by the board on 11 November 2024
NVP Trading Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 200,000
At 31 July 2024 200,000
Amortisation
At 1 August 2023 54,761
Provided during the year 28,571
At 31 July 2024 83,332
Net book value
At 31 July 2024 116,668
At 31 July 2023 145,239
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 August 2023 25,000 65,133 90,133
At 31 July 2024 25,000 65,133 90,133
Depreciation
At 1 August 2023 8,666 7,127 15,793
Charge for the year 3,267 8,701 11,968
At 31 July 2024 11,933 15,828 27,761
Net book value
At 31 July 2024 13,067 49,305 62,372
At 31 July 2023 16,334 58,006 74,340
5 Debtors 2024 2023
£ £
Trade debtors 60,000 60,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 2,874
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,929 2,392
Taxation and social security costs 14,645 16,021
16,574 21,287
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 35,495 40,200
Obligations under finance lease and hire purchase contracts 49,401 66,907
Other creditors 155,000 155,000
239,896 262,107
8 Other information
NVP Trading Ltd is a private company limited by shares and incorporated in England. Its registered office is:
235 Wrens Nest Road
Dudley
DY1 3RU
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