Company Registration No. 11919513 (England and Wales)
NG Clothing Ltd
Unaudited accounts
for the year ended 30 April 2025
NG Clothing Ltd
Unaudited accounts
Contents
NG Clothing Ltd
Company Information
for the year ended 30 April 2025
Company Number
11919513 (England and Wales)
Registered Office
3f Princess Court
Princess Way
Prudhoe
Northumberland
NE42 6PL
England
Accountants
LRK Accounting & Bookkeeping Ltd
128 City Road
London
EC1V 2NX
NG Clothing Ltd
Statement of financial position
as at 30 April 2025
Tangible assets
9,148
9,824
Inventories
218,000
167,534
Cash at bank and in hand
83,321
34,140
Creditors: amounts falling due within one year
(324,535)
(244,566)
Net current assets
20,888
28,002
Total assets less current liabilities
30,036
37,826
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
28,930
37,824
Shareholders' funds
28,932
37,826
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 May 2025 and were signed on its behalf by
Gavin Mattinson
Director
Company Registration No. 11919513
NG Clothing Ltd
Notes to the Accounts
for the year ended 30 April 2025
NG Clothing Ltd is a private company, limited by shares, registered in England and Wales, registration number 11919513. The registered office is 3f Princess Court, Princess Way, Prudhoe, Northumberland, NE42 6PL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
NG Clothing Ltd
Notes to the Accounts
for the year ended 30 April 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2024
1,336
9,695
2,815
624
14,470
Additions
-
-
-
1,199
1,199
At 30 April 2025
1,336
9,695
2,815
1,823
15,669
At 1 May 2024
351
3,921
290
84
4,646
Charge for the year
197
1,039
379
260
1,875
At 30 April 2025
548
4,960
669
344
6,521
At 30 April 2025
788
4,735
2,146
1,479
9,148
At 30 April 2024
985
5,774
2,525
540
9,824
Amounts falling due within one year
Trade debtors
41,312
63,410
Accrued income and prepayments
1,290
1,907
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
121,369
52,093
Trade creditors
48,451
116,361
Taxes and social security
5,292
5,649
Loans from directors
113,060
30,454
7
Deferred taxation
2025
2024
Accelerated capital allowances
1,104
-
Charged to the profit and loss account
1,104
-
Provision at end of year
1,104
-
NG Clothing Ltd
Notes to the Accounts
for the year ended 30 April 2025
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
(30,454)
836,717
919,323
(113,060)
(30,454)
836,717
919,323
(113,060)
Directors Loan account had an opening credit balance of £30,454. The company paid the Director £836,717. The Director injected a further £919,323 into the company without interest. Therefore, Directors Loan account has a carried forward credit balance of £113,060.
9
Average number of employees
During the year the average number of employees was 1 (2024: 1).