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REGISTERED NUMBER: 02443305 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

T. NAUGHTON LIMITED

T. NAUGHTON LIMITED (REGISTERED NUMBER: 02443305)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


T. NAUGHTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr T Naughton





SECRETARY: Mrs A J Naughton





REGISTERED OFFICE: Builders Yard
New Bank Street
Longsight
Manchester
M12 4HD





REGISTERED NUMBER: 02443305 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

T. NAUGHTON LIMITED (REGISTERED NUMBER: 02443305)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 13,252 13,252
Tangible assets 5 3,207,335 2,201,466
3,220,587 2,214,718

CURRENT ASSETS
Debtors 6 766,204 538,907
Cash at bank 134,547 202,837
900,751 741,744
CREDITORS
Amounts falling due within one year 7 746,280 792,002
NET CURRENT ASSETS/(LIABILITIES) 154,471 (50,258 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,375,058

2,164,460

CREDITORS
Amounts falling due after more than one
year

8

(1,160,880

)

(614,326

)

PROVISIONS FOR LIABILITIES (76,749 ) (45,331 )
NET ASSETS 2,137,429 1,504,803

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Retained earnings 2,127,429 1,494,803
SHAREHOLDERS' FUNDS 2,137,429 1,504,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

T. NAUGHTON LIMITED (REGISTERED NUMBER: 02443305)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 June 2025 and were signed by:





Mr T Naughton - Director


T. NAUGHTON LIMITED (REGISTERED NUMBER: 02443305)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

T. Naughton 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 42 ) .

T. NAUGHTON LIMITED (REGISTERED NUMBER: 02443305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 13,252
NET BOOK VALUE
At 31 March 2024 13,252
At 31 March 2023 13,252

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 395,000 3,636,856 4,031,856
Additions - 1,241,735 1,241,735
Disposals - (169,950 ) (169,950 )
At 31 March 2024 395,000 4,708,641 5,103,641
DEPRECIATION
At 1 April 2023 39,500 1,790,890 1,830,390
Charge for year 7,900 189,900 197,800
Eliminated on disposal - (131,884 ) (131,884 )
At 31 March 2024 47,400 1,848,906 1,896,306
NET BOOK VALUE
At 31 March 2024 347,600 2,859,735 3,207,335
At 31 March 2023 355,500 1,845,966 2,201,466

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 350,643 360,626
Other debtors 415,561 178,281
766,204 538,907

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 26,422 26,422
Hire purchase contracts 195,714 253,300
Trade creditors 192,500 222,121
Taxation and social security 314,488 283,413
Other creditors 17,156 6,746
746,280 792,002

T. NAUGHTON LIMITED (REGISTERED NUMBER: 02443305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 83,239 110,104
Hire purchase contracts 1,077,641 484,243
Other creditors - 19,979
1,160,880 614,326

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Hire purchase contracts 1,273,355 737,543
Mortgage 109,661 136,526
1,383,016 874,069

The mortgage is secured by a legal charge over the freehold property.

Obligations under hire purchase contracts are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
10,000 Ordinary £1 10,000 10,000