Norwest Projects Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05414855 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2019

FOR

NORWEST PROJECTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A R J Barlow

SECRETARY:

Mrs C A Barlow

REGISTERED OFFICE:

Office 1

Ellenbrook Village Centre

Morston Close

Worsley

Greater Manchester

M28 1PB

REGISTERED NUMBER:

05414855 (England and Wales)

ACCOUNTANTS:

Percy Westhead & Company

Chartered Accountants

Greg's Buildings

1 Booth Street

Manchester

M2 4AD

FIXED ASSETS

Tangible assets

4

81,728

40,929

CURRENT ASSETS

Debtors

5

416,524

147,499

Cash at bank

225,690

287,238

642,214

434,737

CREDITORS

Amounts falling due within one year

6

225,673

166,349

NET CURRENT ASSETS

416,541

268,388

TOTAL ASSETS LESS CURRENT LIABILITIES

498,269

309,317

CREDITORS

Amounts falling due after more than one year

7

(10,337

)

-

PROVISIONS FOR LIABILITIES

(14,451

)

(6,464

)

NET ASSETS

473,481

302,853

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

473,381

302,753

473,481

302,853

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

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

The director acknowledges his 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 director on 13th November 2019 and were signed by:

A R J Barlow - Director

1.	STATUTORY INFORMATION

Norwest Projects 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

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.

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 7 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2018

86,816

19,765

106,581

Additions

75,396

3,811

79,207

Disposals

(34,931

)

(4,125

)

(39,056

)

At 31st March 2019

127,281

19,451

146,732

DEPRECIATION

At 1st April 2018

57,514

8,138

65,652

Charge for year

31,821

6,587

38,408

Eliminated on disposal

(34,931

)

(4,125

)

(39,056

)

At 31st March 2019

54,404

10,600

65,004

NET BOOK VALUE

At 31st March 2019

72,877

8,851

81,728

At 31st March 2018

29,302

11,627

40,929

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

54,657

At 31st March 2019

54,657

DEPRECIATION

Charge for year

13,664

At 31st March 2019

13,664

NET BOOK VALUE

At 31st March 2019

40,993

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

416,250

136,247

Other debtors

274

3,466

VAT

-

7,786

416,524

147,499

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

9,663

5,798

Trade creditors

105,049

37,208

Corporation tax

45,249

31,172

Social security and other taxes

10,101

6

VAT

9,143

-

Other creditors

42,527

89,665

Accruals and deferred income

3,941

2,500

225,673

166,349

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

10,337

-