NCP Projects Limited Filleted accounts for Companies House (small and micro)

NCP PROJECTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC684941

NCP PROJECTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 January 2022

NCP PROJECTS LIMITED

BALANCE SHEET

31 January 2022

	31 Jan 22
Note	£	£

FIXED ASSETS

Tangible assets	4		136,285

CURRENT ASSETS

Cash at bank	6,936

CREDITORS: amounts falling due within one year	5	153,412
		---------
NET CURRENT LIABILITIES			146,476
			---------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 10,191)
			--------
NET LIABILITIES			( 10,191)
			--------

CAPITAL AND RESERVES

Called up share capital		100
Profit and loss account		( 10,291)
		--------
SHAREHOLDERS DEFICIT		( 10,191)
		--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the period ending 31st January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 6 June 2022 , and are signed on behalf of the board by:

Mr Norman Porter
Director

Company registration number: SC684941

NCP PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 5th JANUARY 2021 TO 31st JANUARY 2022

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 6 Rubislaw Place, Aberdeen, AB10 1XN.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern

The financial statements are prepared on a going concern basis which is appropriate as the company is supported by the director.

Revenue Recognition

Turnover comprises rent receivable and is credited to the Profit and Loss Account on an accruals basis.

Tangible Assets

Tangible assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	20% reducing balance
Equipment	-	25% straight line

Financial Instruments

The following assets and liabilities are classified as financial instruments, bank and loans from related parties. Cash at bank in the balance sheet is held on demand. Loans from related parties are measured at the undiscounted amounts payable.

Investment Property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

4. TANGIBLE ASSETS

	Freehold property	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 5th January 2021	–	–	–	–
Additions	122,793	13,575	3,439	139,807
	---------	--------	-------	---------
At 31st January 2022	122,793	13,575	3,439	139,807
	---------	--------	-------	---------
Depreciation
At 5th January 2021	–	–	–	–
Charge for the period	–	2,715	807	3,522
	---------	--------	-------	---------
At 31st January 2022	–	2,715	807	3,522
	---------	--------	-------	---------
Carrying amount
At 31st January 2022	122,793	10,860	2,632	136,285
	---------	--------	-------	---------

Tangible assets held at valuation

The market value of the investment properties at 31st January 2022 is considered to be the cost price of the properties.

5. CREDITORS: amounts falling due within one year

	31 Jan 22
	£
Other creditors	153,412
	---------

6. GOING CONCERN

The balance sheet is in deficit by £10,191. However, the director will continue to support the company and he is therefore of the opinion that it is appropriate to prepare the financial statements on a going concern basis.