Northvale Construction Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06675365 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Northvale Construction Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S W Morrow

K Beaton

SECRETARY:

GHP Registrars Limited

REGISTERED OFFICE:

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

REGISTERED NUMBER:

06675365 (England and Wales)

ACCOUNTANTS:

Grant Harrod Lerman Davis LLP

Chartered Accountants

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

FIXED ASSETS

Tangible assets

4

540,045

1,104,763

CURRENT ASSETS

Stocks

908,363

344,312

Debtors

5

1,486,354

417,386

Cash at bank and in hand

1,517,950

2,502,529

3,912,667

3,264,227

CREDITORS

Amounts falling due within one year

6

2,378,752

1,990,143

NET CURRENT ASSETS

1,533,915

1,274,084

TOTAL ASSETS LESS CURRENT LIABILITIES

2,073,960

2,378,847

CREDITORS

Amounts falling due after more than one year

7

-

647,680

NET ASSETS

2,073,960

1,731,167

CAPITAL AND RESERVES

Called up share capital

2,280

2,400

Capital redemption reserve

120

-

Retained earnings

2,071,560

1,728,767

SHAREHOLDERS' FUNDS

2,073,960

1,731,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 2 August 2019 and were signed on its behalf by:

S W Morrow - Director

1.	STATUTORY INFORMATION

Northvale Construction Ltd 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 represents income receivable for the year, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

1,015,866

141,611

1,157,477

Additions

-

52,829

52,829

Disposals

(589,202

)

-

(589,202

)

At 31 March 2019

426,664

194,440

621,104

DEPRECIATION

At 1 April 2018

-

52,714

52,714

Charge for year

-

28,345

28,345

At 31 March 2019

-

81,059

81,059

NET BOOK VALUE

At 31 March 2019

426,664

113,381

540,045

At 31 March 2018

1,015,866

88,897

1,104,763

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

833,762

267,064

Other debtors

652,592

150,322

1,486,354

417,386

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

26,685

Trade creditors

847,932

707,197

Taxation and social security

130,269

196,975

Other creditors

1,400,551

1,059,286

2,378,752

1,990,143

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

-

647,680

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

529,544

8.	RELATED PARTY DISCLOSURES

The directors, Mr S Morrow and Mr K Beaton, operate a loan account with the company which enables it to

trade on a day to day basis. At the year end the company owed the directors £48,834 (2018-£19,711) on this loan

account. Dividends amounting to £408,121 were paid to the directors during the year.

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of the director and main shareholder, Mr S Morrow, throughout the

accounting and previous accounting period.

10.	SHARE BUYBACK

During the year the " D" ordinary shares were bought back by the company.