NLR Trading Limited |
Notes to the Accounts |
for the year ended 31 October 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Stocks |
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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. |
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Debtors |
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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 recognised at transaction price including any transaction costs. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs. |
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Taxation |
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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. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Number of employees |
1 |
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1 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 November 2023 |
9,968 |
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At 31 October 2024 |
9,968 |
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Depreciation |
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At 1 November 2023 |
5,982 |
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Charge for the year |
1,994 |
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At 31 October 2024 |
7,976 |
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Net book value |
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At 31 October 2024 |
1,992 |
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At 31 October 2023 |
3,986 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Other debtors |
- |
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135 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Trade creditors |
- |
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242 |
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Other creditors |
69,169 |
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57,896 |
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69,169 |
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58,138 |
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6 |
Other information |
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NLR Trading Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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255 Poulton Road |
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Wallasey |
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Merseyside |
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CH44 4BT |