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Company Registration Number:  14555543



















NGL (SOUTH CHARLTON) LTD
FINANCIAL STATEMENTS
 31 DECEMBER 2024













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NGL (SOUTH CHARLTON) LTD
REGISTERED NUMBER: 14555543

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
2,534,409
689,028

Debtors: amounts falling due within one year
 4 
30,403
11,924

  
2,564,812
700,952

Creditors: amounts falling due within one year
 5 
(2,583,593)
(707,102)

Net current liabilities
  
 
 
(18,781)
 
 
(6,150)

Total assets less current liabilities
  
(18,781)
(6,150)

  

Net liabilities
  
(18,781)
(6,150)


Capital and reserves
  

Called up share capital 
 6 
200
200

Profit and loss account
  
(18,981)
(6,350)

  
(18,781)
(6,150)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr M F Hogan
Director

Date: 29 September 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1
 
NGL (SOUTH CHARLTON) LTD
 

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

1.


General information

The company is a private company limited by share capital, incorporated in England.
The address of its registered office is Dere Street House, Bowburn North Industrail Estate, Bowburn, Durham, DH6 5PF.United Kingdom

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The company's functional and presentational currency is Sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities due to amounts owed to group companies and other related parties, which will not require repayment if this would jeopardise the company's ability to continue as a going concern. 
For this reason, in addition to the future plans for the company, management believe the going concern basis to be appropriate for the financial statements. 

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 2
 
NGL (SOUTH CHARLTON) LTD
 

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

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Debtors

2024
2023
£
£


Trade debtors
23,670
-

Amounts owed by group undertakings
52
200

Other debtors
6,681
11,724

30,403
11,924



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
2,572,743
702,252

Accruals and deferred income
10,850
4,850

2,583,593
707,102



6.


Share capital

2024
2023
Page 3
 
NGL (SOUTH CHARLTON) LTD
 

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

6.Share capital (continued)

£
£
Allotted, called up and fully paid



3,000 (2023 - 3,000) A Ordinary shares of £0.05 each
150
150
1,000 (2023 - 1,000) B Ordinary shares of £0.05 each
50
50

200

200



7.


Controlling party

The company's immediate parent is VB Turnbull Limited which is incorporated in England and Wales. The registered office of VB Turnbull Limited is Dere Street House, Bowburn North Industrial Estate, Bowburn, Durham, DH6 5PF.
The parent of the largest group is Vestbrown (Newco) Limited which is incorporated in England and Wales. The registered office of Vestbrown (Newco) Limited is Dere Street House, Bowburn North Industrial Estate, Bowburn, Durham, DH6 5PF.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 September 2025 by Simon Turner (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.


Page 4