Naylor Powell Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09228188 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

NAYLOR POWELL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Birt

R C W Wade

A Davis

REGISTERED OFFICE:

Unit A2 Spinnaker House

Spinnaker Road

Gloucester

Gloucestershire

GL2 5FD

REGISTERED NUMBER:

09228188 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

4

408,333

483,333

Tangible assets

5

9,088

7,981

417,421

491,314

CURRENT ASSETS

Debtors

6

291,553

102,978

Cash at bank and in hand

11,039

21,674

302,592

124,652

CREDITORS

Amounts falling due within one year

7

189,337

173,755

NET CURRENT ASSETS/(LIABILITIES)

113,255

(49,103

)

TOTAL ASSETS LESS CURRENT LIABILITIES

530,676

442,211

CREDITORS

Amounts falling due after more than one year

8

(461,680

)

(316,315

)

PROVISIONS FOR LIABILITIES

(1,429

)

(1,879

)

NET ASSETS

67,567

124,017

CAPITAL AND RESERVES

Called up share capital

400

100

Retained earnings

67,167

123,917

SHAREHOLDERS' FUNDS

67,567

124,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 applicable to companies subject to the small companies regime.

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 31 October 2019 and were signed on its behalf by:

J Birt - Director

A Davis - Director

R C W Wade - Director

1.	STATUTORY INFORMATION

Naylor Powell Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 net invoiced sales of services, excluding value added tax. Letting management

income is recognised in month rent is received. Property commissions are recognised upon

completion of property. Valuations are recognised when the work is completed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

7.5% on cost

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in

FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective

interest method.

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.

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.

Going concern

The directors consider that there are no material uncertainties related to events or conditions that may

cast significant doubt about the company's ability to continue as a going concern, but the company is

reliant on the support of it's directors. Therefore, the going concern basis remains appropriate.

Provision

Provisions are set up only where it is probable that a present obligation exists as a result of an event

prior to the balance sheet date and that a payment will be required in settlement that can be estimated

reliably. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2018 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

and 30 June 2019

750,000

AMORTISATION

At 1 July 2018

266,667

Charge for year

75,000

At 30 June 2019

341,667

NET BOOK VALUE

At 30 June 2019

408,333

At 30 June 2018

483,333

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2018

7,687

6,895

2,913

17,495

Additions

1,563

443

1,536

3,542

At 30 June 2019

9,250

7,338

4,449

21,037

DEPRECIATION

At 1 July 2018

6,414

2,663

437

9,514

Charge for year

1,244

929

262

2,435

At 30 June 2019

7,658

3,592

699

11,949

NET BOOK VALUE

At 30 June 2019

1,592

3,746

3,750

9,088

At 30 June 2018

1,273

4,232

2,476

7,981

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

43,168

96,930

Other debtors

234,575

-

Prepayments and accrued income

13,810

6,048

291,553

102,978

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

55,680

-

Trade creditors

28,692

23,488

Corporation Tax

31,850

41,117

Social security and other taxes

10,419

11,583

Pension control

2,183

1,307

VAT

38,056

52,404

Directors' loan accounts

20,000

40,000

Accruals and deferred income

2,457

3,856

189,337

173,755

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans - 2-5 years

200,000

-

Bank loans

250,000

-

Directors' loan accounts

11,680

316,315

461,680

316,315

2019

2018

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

250,000

-

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2019 and

30 June 2018:

2019

2018

£

£

J Birt

Balance outstanding at start of year

(50,193

)

(68,107

)

Amounts advanced

73,212

73,024

Amounts repaid

(55,202

)

(55,110

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(32,183

)

(50,193

)

R J T Powell

Balance outstanding at start of year

(306,121

)

(336,271

)

Amounts advanced

361,555

85,380

Amounts repaid

(55,434

)

(55,230

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(306,121

)

J Birt (Director and shareholder)

There are no set repayment terms or interest accruing on this loan to J Birt amount.

R J T Powell (Director and shareholder)

At the balance sheet date the loan from R J T Powell was cleared. There was no interest accruing on

the outstanding amounts during the year.

10.	RELATED PARTY DISCLOSURES

During the year, the company became a subsidiary to a newly incorporated company Naylor Powell

Holdings Ltd whose registered office is located at Unit A2 Spinnaker House Spinnaker Road,

Hempsted, Gloucester, GL2 5FD, UK.

At the year end there was an amount owed from Naylor Powell Holdings of £234,575.

11.	CONTINGENT LIABILITIES

The company had total guarantees contingencies and commitments at the year end of £235,165

(2018: £197,456)