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# NFC TRADING LTD

## Company Registration Number:
NI602468 (Northern Ireland)

## Unaudited abridged accounts for the year ended 31 March 2025

## Period of accounts

## Start date: 01 April 2024

## End date: 31 March 2025

# NFC TRADING LTD

## Contents of the Financial Statements

for the Period Ended 31 March 2025

Balance sheet |
Notes |

# NFC TRADING LTD

## Balance sheet

As at 31 March 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Tangible assets: | 3 | 508,523 | 518,876
Total fixed assets: |  | 508,523 | 518,876
Current assets
Stocks: |  | 868,764 | 861,389
Debtors: |  | 333,221 | 310,527
Cash at bank and in hand: |  | 49,897 | 122,724
Total current assets: |  | 1,251,882 | 1,294,640
Creditors: amounts falling due within one year: | 4 | (760,966) | (767,953)
Net current assets (liabilities): |  | 490,916 | 526,687
Total assets less current liabilities: |  | 999,439 | 1,045,563
Creditors: amounts falling due after more than one year: | 5 | (179,179) | (214,473)
Provision for liabilities: |  | (27,123) | (29,711)
Total net assets (liabilities): |  | 793,137 | 801,379
Capital and reserves
Called up share capital: |  | 10 | 10
Other reserves: |  | 5 | 5
Profit and loss account: |  | 793,122 | 801,364
Shareholders funds: |  | 793,137 | 801,379

The notes form part of these financial statements

# NFC TRADING LTD

## Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 05 December 2025
and signed on behalf of the board by:

Name: K Norman
Status: Director

The notes form part of these financial statements

# NFC TRADING LTD

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

## Other accounting policies

General information The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 7 Ballinran Road, Kilkeel, BT34 4JA, Co Down. Basis of preparation The abridged 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 abridged 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 or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Operating leases Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income. Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill 10% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. 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: Leasehold improvements 10% straight line Plant & machinery 20% reducing balance Fixtures & fittings 20% reducing balance Motor vehicles 25% reducing balance Office equipment 25% reducing balance Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. 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 stock to its present location and condition. Finance leases and hire purchase contracts Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. 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 abridged 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 as a finance cost in profit or loss in the period it arises. 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.

# NFC TRADING LTD

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 2. Employees

| 2025 | 2024
--- | --- | ---
Average number of employees during the period | 10 | 10

# NFC TRADING LTD

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 3. Tangible Assets

| Total
--- | ---
Cost | £
At 01 April 2024 | 655,070
Additions | 23,500
Disposals | (12,775)
At 31 March 2025 | 665,795
Depreciation |
At 01 April 2024 | 136,194
Charge for year | 33,149
On disposals | (12,071)
At 31 March 2025 | 157,272
Net book value |
At 31 March 2025 | 508,523
At 31 March 2024 | 518,876

The Company purchased an investment property during the year to March 2019. The fair value of the property at 31 March 2025 is considered by the directors not to be materially different from cost.

# NFC TRADING LTD

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 4. Creditors: amounts falling due within one year note

Bank facilities totalling £31,715 (2024 - £29,063) are secured by way of a fixed and floating charge over all property and assets of the company, including fixed charges over the company properties. Net obligations under finance lease and hire purchase contracts totalling £16,794 (2024 - £12,344) are secured on the asset concerned.

# NFC TRADING LTD

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 5. Creditors: amounts falling due after more than one year note

Bank loans totalling £32,388 (2024 - £64,238) are secured by way of a fixed and floating charge over all property and assets of the company, including a freehold first legal charge over investment property. Net obligations under finance lease and hire purchase contracts totalling £13,457 (2024 - £16,901) are secured on the asset concerned.

# NFC TRADING LTD

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 6. Related party transactions

At the balance sheet date NFC Trading Ltd owed £556,750 (2024 - £509,550) to directors and shareholders.