NUGENT BROTHERS CONSTRUCTION LIMITED - Accounts

NUGENT BROTHERS CONSTRUCTION LIMITED - Company Information

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Registered Number: 02944380

England and Wales

NUGENT BROTHERS CONSTRUCTION LIMITED

Abridged Accounts

Period of accounts

Start date: 01 March 2021

End date: 28 February 2022

NUGENT BROTHERS CONSTRUCTION LIMITED
Contents Page
For the year ended 28 February 2022

Statement of financial position	1
Notes to the financial statements	2

NUGENT BROTHERS CONSTRUCTION LIMITED
Statement of Financial Position
As at 28 February 2022

	2022 £	2021 £
Fixed assets
Tangible fixed assets	6,151	8,202
	6,151	8,202
Current assets
Debtors: amounts falling due within one year	27,333	13,333
Cash at bank and in hand	38,295	82,401
	65,628	95,734
Creditors: amount falling due within one year	(91,892)	(126,505)
Net current liabilities	(26,264)	(30,771)

Total assets less current liabilities	(20,113)	(22,569)
Net liabilities	(20,113)	(22,569)

Capital and reserves
Called up share capital	100	100
Share premium account	1	1
Profit and loss account	(20,214)	(22,670)
Shareholder's funds	(20,113)	(22,569)

For the year ended 28 February 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 13 October 2022 and were signed on its behalf by:

--------------------------------
S NUGENT
Director

NUGENT BROTHERS CONSTRUCTION LIMITED
Notes to the Abridged Financial Statements
For the year ended 28 February 2022

General Information

NUGENT BROTHERS CONSTRUCTION LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02944380, registration address 169 High Street, Barnet, Herts, EN5 5SU

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Motor Vehicles

25% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the year was 2 (2021 : 2).

Tangible fixed assets

Cost or valuation	Motor Vehicles	Total
	£	£
At 01 March 2021	25,419	25,419
Additions	-	-
Disposals	-	-
At 28 February 2022	25,419	25,419
Depreciation
At 01 March 2021	17,217	17,217
Charge for year	2,051	2,051
On disposals	-	-
At 28 February 2022	19,268	19,268
Net book values
Closing balance as at 28 February 2022	6,151	6,151
Opening balance as at 01 March 2021	8,202	8,202

Share Capital

Allotted, called up and fully paid	2022 £		2021 £
100 ordinary shares of £1.00 each	100		100
	100		100