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NVM Construction Ltd
Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06698602
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,605 2,140
1,605 2,140
CURRENT ASSETS
Stocks 5 2,000 4,750
Debtors 6 6,354 6,354
Cash at bank and in hand - 2
8,354 11,106
Creditors: Amounts Falling Due Within One Year 7 (54,537 ) (49,427 )
NET CURRENT ASSETS (LIABILITIES) (46,183 ) (38,321 )
TOTAL ASSETS LESS CURRENT LIABILITIES (44,578 ) (36,181 )
Creditors: Amounts Falling Due After More Than One Year 8 (3,929 ) (7,435 )
NET LIABILITIES (48,507 ) (43,616 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (48,509 ) (43,618 )
SHAREHOLDERS' FUNDS (48,507) (43,616)
Page 1
Page 2
For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nigel Mottram
Director
11 April 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
NVM Construction Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06698602 . The registered office is Birchwood Farm Common Lane, Gratwich, Uttoxeter, ST14 8FG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
These accounts have been prepared on the going concern basis which may not be appropriatedue to the net liability position of the company at the year end.
Of the company's liabilities at the year end, £48,868 (2023 £43,433) was owed to the directors who have agreed that their loans will not become repayable in advance of any other creditor of the company. The company has adequate working capital to meet its other debts as they fall due.
Should the company be unable to continue as a going concern then the fixed assets would need to be reclassified as current assets and all assets stated at their realisable value.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Motor Vehicles 25%
Computer Equipment 25%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 3,990 11,900 3,487 19,377
As at 30 September 2024 3,990 11,900 3,487 19,377
Depreciation
As at 1 October 2023 3,777 10,312 3,148 17,237
Provided during the period 53 397 85 535
As at 30 September 2024 3,830 10,709 3,233 17,772
Net Book Value
As at 30 September 2024 160 1,191 254 1,605
As at 1 October 2023 213 1,588 339 2,140
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Page 4
5. Stocks
2024 2023
£ £
Stock 2,000 2,250
Work in progress - 2,500
2,000 4,750
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,354 6,354
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,321
Bank loans and overdrafts 3,000 3,000
Other creditors 50,420 44,233
Taxation and social security 1,117 873
54,537 49,427
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,929 7,435
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4