REGISTERED NUMBER: |
Financial Statements for the Year Ended 29 January 2024 |
for |
N & G Ceilings and Partitions Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 29 January 2024 |
for |
N & G Ceilings and Partitions Limited |
N & G Ceilings and Partitions Limited (Registered number: 08379676) |
Contents of the Financial Statements |
for the Year Ended 29 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
N & G Ceilings and Partitions Limited |
Company Information |
for the Year Ended 29 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
N & G Ceilings and Partitions Limited (Registered number: 08379676) |
Balance Sheet |
29 January 2024 |
29.1.24 | 29.1.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
N & G Ceilings and Partitions Limited (Registered number: 08379676) |
Balance Sheet - continued |
29 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
N & G Ceilings and Partitions Limited (Registered number: 08379676) |
Notes to the Financial Statements |
for the Year Ended 29 January 2024 |
1. | STATUTORY INFORMATION |
N & G Ceilings and Partitions Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
Turnover |
Income is recognised on the fair value of the consideration received for ceiling and partition installation excluding value added tax.Income is recognised when the work is completed. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Financial instruments |
Directors loans, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. |
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 balance sheet date. |
N & G Ceilings and Partitions Limited (Registered number: 08379676) |
Notes to the Financial Statements - continued |
for the Year Ended 29 January 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 30 January 2023 |
and 29 January 2024 |
DEPRECIATION |
At 30 January 2023 |
Charge for year |
At 29 January 2024 |
NET BOOK VALUE |
At 29 January 2024 |
At 29 January 2023 |
N & G Ceilings and Partitions Limited (Registered number: 08379676) |
Notes to the Financial Statements - continued |
for the Year Ended 29 January 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 30 January 2023 |
and 29 January 2024 |
DEPRECIATION |
At 30 January 2023 |
and 29 January 2024 |
NET BOOK VALUE |
At 29 January 2024 |
At 29 January 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.1.24 | 29.1.23 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.1.24 | 29.1.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.1.24 | 29.1.23 |
£ | £ |
Bank loans |
N & G Ceilings and Partitions Limited (Registered number: 08379676) |
Notes to the Financial Statements - continued |
for the Year Ended 29 January 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
29.1.24 | 29.1.23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans due after 5 years |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,806 | - |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.1.24 | 29.1.23 |
£ | £ |
Hire purchase contracts | - | 858 |
9. | TRANSACTIONS WITH DIRECTORS |
During the period the directors operated accounts to which transactions of a private nature were charged. At the balance sheet date included in other debtors is £49,125 and £28,624 (2023 £46,758 and £32,669) owed to the company by M Nixon and N Nixon respectively. Interest was charged on these balances at a rate of 2.25 %. |