Company registration number 06276388 (England and Wales)
NRG INDUSTRIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
NRG INDUSTRIES LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
NRG INDUSTRIES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
325,806
339,478
Investment property
6
132,693
132,693
Investments
7
4,000
4,000
462,499
476,171
Current assets
Stocks
12,859
14,450
Debtors
8
11,838
18,954
Cash at bank and in hand
325,246
191,318
349,943
224,722
Creditors: amounts falling due within one year
9
(225,540)
(213,560)
Net current assets
124,403
11,162
Total assets less current liabilities
586,902
487,333
Creditors: amounts falling due after more than one year
10
(15,595)
Net assets
586,902
471,738
Capital and reserves
Called up share capital
11
100
100
Profit and loss reserves
586,802
471,638
Total equity
586,902
471,738
NRG INDUSTRIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 3 -
For the financial year ended 31 August 2024 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 15 May 2025
Mrs G George
Director
Company registration number 06276388 (England and Wales)
NRG INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information
NRG Industries Limited is a private company limited by shares incorporated in England and Wales. The registered office is 49 Birmingham Road, Sutton Coldfield, B72 1QF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.
1.4
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
10% on cost
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on cost
Computers
33% on cost
1.5
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
1.6
Fixed asset investments
Fixed asset investments are stated at market value.
1.7
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
NRG INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
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.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
40
40
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
71,154
47,297
NRG INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
52,000
Amortisation and impairment
At 1 September 2023 and 31 August 2024
52,000
Carrying amount
At 31 August 2024
At 31 August 2023
5
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 September 2023
252,012
82,579
280,391
11,816
626,798
Additions
11,763
17,402
800
29,965
At 31 August 2024
263,775
82,579
297,793
12,616
656,763
Depreciation and impairment
At 1 September 2023
112,923
54,050
109,185
11,162
287,320
Depreciation charged in the year
15,506
4,279
23,131
721
43,637
At 31 August 2024
128,429
58,329
132,316
11,883
330,957
Carrying amount
At 31 August 2024
135,346
24,250
165,477
733
325,806
At 31 August 2023
139,089
28,529
171,206
654
339,478
6
Investment property
2024
£
Fair value
At 1 September 2023 and 31 August 2024
132,693
7
Fixed asset investments
2024
2023
£
£
Other investments other than loans
4,000
4,000
NRG INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
5,319
Other debtors
11,838
13,635
11,838
18,954
9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
35,000
Trade creditors
62,722
40,187
Corporation tax
71,154
47,297
Other taxation and social security
97,610
96,795
Other creditors
(5,946)
(5,719)
225,540
213,560
10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,595
11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100