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COMPANY REGISTRATION NUMBER: 03411187
NTC Services Limited
Filleted Unaudited Financial Statements
31 December 2024
NTC Services Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
23,697
24,177
Current assets
Debtors
6
25,889
25,208
Cash at bank and in hand
82,922
123,945
---------
---------
108,811
149,153
Creditors: amounts falling due within one year
7
28,689
48,275
---------
---------
Net current assets
80,122
100,878
---------
---------
Total assets less current liabilities
103,819
125,055
---------
---------
Net assets
103,819
125,055
---------
---------
Capital and reserves
Called up share capital
8
179
179
Capital redemption reserve
2
2
Profit and loss account
103,638
124,874
---------
---------
Shareholders funds
103,819
125,055
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NTC Services Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 18 June 2025 , and are signed on behalf of the board by:
J Simison
Director
Company registration number: 03411187
NTC Services Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Highfield House, Moulsham Street, Chelmsford, Essex, CM2 9AF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
12% straight line
Office equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024
112,799
47,900
160,699
Additions
3,119
2,143
5,262
---------
--------
---------
At 31 December 2024
115,918
50,043
165,961
---------
--------
---------
Depreciation
At 1 January 2024
89,266
47,256
136,522
Charge for the year
5,106
636
5,742
---------
--------
---------
At 31 December 2024
94,372
47,892
142,264
---------
--------
---------
Carrying amount
At 31 December 2024
21,546
2,151
23,697
---------
--------
---------
At 31 December 2023
23,533
644
24,177
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
55
Prepayments and accrued income
25,889
25,153
--------
--------
25,889
25,208
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
6,904
27,283
Social security and other taxes
21,785
20,992
--------
--------
28,689
48,275
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
179
179
179
179
----
----
----
----
9. Related party transactions
During the year the company paid rent amounting to £80,000 (2023: £80,000) to a company in which two of the directors are also directors.