NRPG (F & V) Ltd
NRPG (F & V) Ltd
Registered number: 08783695
Unaudited Financial Statements
For The Year Ended 31 March 2019
NRPG (F & V) Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
NRPG (F & V) Ltd
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
08783695
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments | 3 |
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| CURRENT ASSETS | |||||
| Stocks | 4 |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 653,410 | 772,300 | |||
Page 1
NRPG (F & V) Ltd
Balance Sheet (continued)
As at
31 March 2019
Directors' responsibilities:
-
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. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
NRPG (F & V) Ltd
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Preparation of consolidated financial statements
The financial statements contain informaion about NRPG (F & V) Ltd as an individual company and do not contail consolidated financial information as the parent of a group. The company is exempt under Section 399 (2A) of the companies Act 2006 from the requirements to prepare consolidated financial statements.
Related party exemption
The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with other wholly owned subsidiaries within the group.
Significant judgements and estimates
The preparation of financial statements requires the use of judgements, estimates and assumptions that affect
the reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses
during the reporting period. These judgements, estimates and assumptions are based on management's
historical experience, knowledge and other factors including expectations of future events or actions that are
believed to be reasonable under the circumstances. Actual results may differ from those amounts estimated.
In preparing these financial statements, management do not believe that they have made any critical
judgements in applying the company's accounting policies.
The following are estimates and assumptions that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial year:
Amounts recoverable on contracts. As the directors consider that all contracts undertaken are long-term in
nature, income is recognised as those contracts progress. Estimates are required when considering the degree
of completion, expected margins on contracts and any provisions for foreseeable losses. Management base
these estimates on all information available, including both financial and operational data.
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
NRPG (F & V) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: Nil (2018 - Nil)
3.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at |
1 |
| As at |
1 |
| Provision | |
| As at |
- |
| As at |
- |
| Net Book Value | |
| As at |
1 |
| As at |
1 |
4.
Stocks
| 2019 | 2018 | ||
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| £ | £ | ||
| Stock - work in progress |
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NRPG (F & V) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
5.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| VAT |
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| Amounts owed by group undertakings |
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6.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other creditors |
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| Payments on account - current liabilities |
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| Accruals and deferred income |
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| Amounts owed to group undertakings |
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8.
Related Party Transactions
NRPG Management Ltd
An intermediate parent company
At the year end, the related party owes the company a total of £2,440,044 (2018: £2,741,668). No interest is charged on this amount.
A management charge of £442,00 (2018: £500,000) was levied by NRPG Management Ltd during the year.
9.
Guarantees and Commitments
The company entered into an agreement with a third party in 2016. NRPG Management Limited, the intermediate parent company, is the guarantor on behalf of the company should it fall into default.
10.
General Information
NRPG (F & V) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08783695 . The registered office is The Old Vicarage, Portsdown Hill Road, Portsmouth, Hampshire, PO6 1BE.
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