N P S Drylining Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04584646 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31st December 2018

for

N P S Drylining Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

N P Simonds

J K Simonds

SECRETARY:

J K Simonds

REGISTERED OFFICE:

11 Abbots View

Buckshaft Road

Cinderford

Gloucestershire

GL14 3EG

REGISTERED NUMBER:

04584646 (England and Wales)

ACCOUNTANTS:

Wildin & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

FIXED ASSETS

Tangible assets

5

26,930

34,598

CURRENT ASSETS

Stocks

121,018

-

Debtors

6

276,178

223,268

Cash at bank

781,568

776,691

1,178,764

999,959

CREDITORS

Amounts falling due within one year

7

193,464

175,600

NET CURRENT ASSETS

985,300

824,359

TOTAL ASSETS LESS CURRENT LIABILITIES

1,012,230

858,957

CREDITORS

Amounts falling due after more than one year

8

-

(20,000

)

PROVISIONS FOR LIABILITIES

(5,117

)

(6,574

)

NET ASSETS

1,007,113

832,383

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,007,013

832,283

SHAREHOLDERS' FUNDS

1,007,113

832,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2018 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 1st July 2019 and were signed on its behalf by:

N P Simonds - Director

1.	STATUTORY INFORMATION

N P S Drylining 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

33% on reducing balance, 25% on reducing balance and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2018

51,316

Additions

1,229

At 31st December 2018

52,545

DEPRECIATION

At 1st January 2018

16,718

Charge for year

8,897

At 31st December 2018

25,615

NET BOOK VALUE

At 31st December 2018

26,930

At 31st December 2017

34,598

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

175,794

148,300

Other debtors

100,384

74,968

276,178

223,268

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

20,000

20,000

Trade creditors

95,110

81,543

Taxation and social security

58,113

56,855

Other creditors

20,241

17,202

193,464

175,600

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans

-

20,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2018 and

31st December 2017:

31.12.18

31.12.17

£

£

N P Simonds

Balance outstanding at start of year

36,997

-

Amounts advanced

36,452

36,997

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

73,449

36,997

During the period a director, Mr N Simonds received an interest free loan of £36,452. The amount outstanding

at the year-end was £73,449 (2017 £36,997). The loan is treated as a current creditor being repayable on

demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st December 2018 set out on pages two to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wildin & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

1st July 2019