N.S.G. Capital Limited

N.S.G. Capital Limited

N.S.G. CAPITAL LIMITED - Company Information

Print Friendly Version

1 January 2019 false Taxfiler 2020.14 2884942business:PrivateLimitedCompanyLtd2019-01-012019-12-31 28849422018-12-31 28849422019-01-012019-12-31 2884942business:AuditExemptWithAccountantsReport2019-01-012019-12-31 2884942business:FullAccounts2019-01-012019-12-31 28849422019-12-31 28849422018-12-31 2884942core:WithinOneYear2019-12-31 2884942core:WithinOneYear2018-12-31 2884942core:ShareCapital2019-12-31 2884942core:ShareCapital2018-12-31 2884942core:RetainedEarningsAccumulatedLosses2019-12-31 2884942core:RetainedEarningsAccumulatedLosses2018-12-31 2884942business:SmallEntities2019-01-012019-12-31 2884942business:Director12019-01-012019-12-31 2884942countries:EnglandWales2019-01-012019-12-31 2884942business:RegisteredOffice2019-01-012019-12-31 2884942core:LandBuildings2019-01-012019-12-31 2884942core:PlantMachinery2019-01-012019-12-31 2884942core:MotorVehicles2019-01-012019-12-31 2884942core:LandBuildings2018-12-31 2884942core:PlantMachinery2018-12-31 2884942core:MotorVehicles2018-12-31 2884942core:LandBuildings2019-12-31 2884942core:PlantMachinery2019-12-31 2884942core:MotorVehicles2019-12-31 2884942business:OrdinaryShareClass12019-01-012019-12-31 2884942business:OrdinaryShareClass12018-01-012018-12-31 2884942business:Director112019-01-012019-12-31 2884942business:Director112018-12-31 2884942business:Director112019-12-31 28849422018-01-012018-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 2884942 (England and Wales)
N.S.G. Capital Limited Unaudited accounts for the year ended 31 December 2019
N.S.G. Capital Limited Unaudited accounts Contents
Page
- 2 -
N.S.G. Capital Limited Statement of financial position as at 31 December 2019
2019 
2018 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
360,936 
376,156 
Current assets
Inventories
5
110,165 
119,357 
Debtors
6
3,209 
7,103 
Cash at bank and in hand
13,102 
27,321 
126,476 
153,781 
Creditors: amounts falling due within one year
7
(341,264)
(369,250)
Net current liabilities
(214,788)
(215,469)
Net assets
146,148 
160,687 
Capital and reserves
Called up share capital
8
30,000 
30,000 
Profit and loss account
116,148 
130,687 
Shareholders' funds
146,148 
160,687 
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 November 2020 and were signed on its behalf by
S S SOUTHI Director Company Registration No. 2884942
- 3 -
N.S.G. Capital Limited Notes to the Accounts for the year ended 31 December 2019
1
Statutory information
N.S.G. Capital Limited is a private company, limited by shares, registered in England and Wales, registration number 2884942. The registered office is 182-185 DUDLEY ROAD, WOLVERHAMPTON, WEST MIDLANDS, WV2 3DR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost
Plant & machinery
10% on the reducing balance
Motor vehicles
25% on the reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 4 -
N.S.G. Capital Limited Notes to the Accounts for the year ended 31 December 2019
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2019
478,624 
214,108 
40,506 
733,238 
At 31 December 2019
478,624 
214,108 
40,506 
733,238 
Depreciation
At 1 January 2019
148,112 
175,696 
33,274 
357,082 
Charge for the year
9,571 
3,841 
1,808 
15,220 
At 31 December 2019
157,683 
179,537 
35,082 
372,302 
Net book value
At 31 December 2019
320,941 
34,571 
5,424 
360,936 
At 31 December 2018
330,512 
38,412 
7,232 
376,156 
5
Inventories
2019 
2018 
£ 
£ 
Finished goods
110,165 
119,357 
110,165 
119,357 
6
Debtors
2019 
2018 
£ 
£ 
Trade debtors
3,209 
7,103 
7
Creditors: amounts falling due within one year
2019 
2018 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
10,288 
Trade creditors
10,418 
13,935 
Taxes and social security
3,730 
5,596 
Other creditors
272,918 
272,918 
Loans from directors
54,198 
66,513 
341,264 
369,250 
8
Share capital
2019 
2018 
£ 
£ 
Allotted, called up and fully paid:
30,000 Ordinary shares of £1 each
30,000 
30,000 
- 5 -
N.S.G. Capital Limited Notes to the Accounts for the year ended 31 December 2019
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
S S SOUTHI
Directors Loan Account
66,513 
- 
12,315 
54,198 
66,513 
- 
12,315 
54,198 
10
Average number of employees
During the year the average number of employees was 2 (2018: 3).
- 6 -