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Company registration number: 04186310
NTC Building Contractors Limited
Unaudited filleted financial statements
31 March 2025
NTC Building Contractors Limited
Contents
Statement of financial position
Notes to the financial statements
NTC Building Contractors Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 27,090 39,100
_______ _______
27,090 39,100
Current assets
Stocks 10,200 12,921
Debtors 6 317,968 416,660
Cash at bank and in hand 166,794 72,625
_______ _______
494,962 502,206
Creditors: amounts falling due
within one year 7 ( 152,847) ( 167,721)
_______ _______
Net current assets 342,115 334,485
_______ _______
Total assets less current liabilities 369,205 373,585
Provisions for liabilities ( 5,036) ( 3,036)
_______ _______
Net assets 364,169 370,549
_______ _______
Capital and reserves
Called up share capital 1,004 1,004
Profit and loss account 363,165 369,545
_______ _______
Shareholders funds 364,169 370,549
_______ _______
For the year ending 31 March 2025 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.
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.
These financial statements were approved by the board of directors and authorised for issue on 26 August 2025 , and are signed on behalf of the board by:
M Crowley
Director
Company registration number: 04186310
NTC Building Contractors Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in Englad & Wales. The address of the registered office is 1 Swan Street, Old Swan, Liverpool, Merseyside, L13 3AD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Plant and machinery - 20% % straight line
Fixtures & fittings - 20% % straight line
Motor vehicles - 20% % straight line
Equipment - 20% % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2024: 25 ).
5. Tangible assets
Plant and machinery Fixtures and fittings Motor vehicles Equipment Total
£ £ £ £ £
Cost
At 1 April 2024 9,372 8,810 121,694 37,654 177,530
Additions - - - 1,095 1,095
Disposals - - ( 4,105) - ( 4,105)
_______ _______ _______ _______ _______
At 31 March 2025 9,372 8,810 117,589 38,749 174,520
_______ _______ _______ _______ _______
Depreciation
At 1 April 2024 6,966 8,399 92,158 30,907 138,430
Charge for the year 682 137 10,712 1,574 13,105
Disposals - - ( 4,105) - ( 4,105)
_______ _______ _______ _______ _______
At 31 March 2025 7,648 8,536 98,765 32,481 147,430
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2025 1,724 274 18,824 6,268 27,090
_______ _______ _______ _______ _______
At 31 March 2024 2,406 411 29,536 6,747 39,100
_______ _______ _______ _______ _______
6. Debtors
2025 2024
£ £
Trade debtors 313,215 391,533
Other debtors 4,753 25,127
_______ _______
317,968 416,660
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 82,473 94,146
Social security and other taxes 42,775 42,482
Other creditors 27,599 31,093
_______ _______
152,847 167,721
_______ _______