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REGISTERED NUMBER: 08379676 (England and Wales)















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: M Nixon
N Nixon





REGISTERED OFFICE: 6 Carnegie Avenue
Crosby
Liverpool
Merseyside
L23 3BR





REGISTERED NUMBER: 08379676 (England and Wales)





ACCOUNTANTS: Cobham Murphy
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 5,920 7,854

CURRENT ASSETS
Stocks - 7,953
Debtors 5 112,979 85,189
Cash at bank and in hand 504 504
113,483 93,646
CREDITORS
Amounts falling due within one year 6 86,308 57,184
NET CURRENT ASSETS 27,175 36,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,095

44,316

CREDITORS
Amounts falling due after more than one
year

7

(30,531

)

(41,666

)

PROVISIONS FOR LIABILITIES (1,125 ) (1,492 )
NET ASSETS 1,439 1,158

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,437 1,156
SHAREHOLDERS' FUNDS 1,439 1,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 January 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.

N & G Ceilings and Partitions Limited (Registered number: 08379676)

Balance Sheet - continued
29 January 2024


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

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 25 April 2025 and were signed on its behalf by:





M Nixon - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
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 etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 January 2023
and 29 January 2024 36,447
DEPRECIATION
At 30 January 2023 28,593
Charge for year 1,934
At 29 January 2024 30,527
NET BOOK VALUE
At 29 January 2024 5,920
At 29 January 2023 7,854

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 19,500
DEPRECIATION
At 30 January 2023
and 29 January 2024 13,330
NET BOOK VALUE
At 29 January 2024 6,170
At 29 January 2023 6,170

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.1.24 29.1.23
£    £   
Trade debtors 1,500 -
Amounts recoverable on contract 8,462 -
Other debtors 103,017 85,189
112,979 85,189

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.1.24 29.1.23
£    £   
Bank loans and overdrafts 20,276 17,939
Hire purchase contracts - 858
Trade creditors 3,650 1,825
Taxation and social security 60,051 33,660
Other creditors 2,331 2,902
86,308 57,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.1.24 29.1.23
£    £   
Bank loans 30,531 41,666

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 - 8,333

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 %.