Northvale Construction Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06675365 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Northvale Construction Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S W Morrow

K Beaton

SECRETARY:

GHP Registrars Limited

REGISTERED OFFICE:

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

REGISTERED NUMBER:

06675365 (England and Wales)

ACCOUNTANTS:

Grant Harrod Lerman Davis LLP

Chartered Accountants

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

FIXED ASSETS

Tangible assets

4

195,942

269,472

CURRENT ASSETS

Stocks

1,819,300

1,038,001

Debtors

5

1,247,096

650,841

Cash at bank and in hand

2,696,367

3,225,632

5,762,763

4,914,474

CREDITORS

Amounts falling due within one year

6

3,032,465

1,702,477

NET CURRENT ASSETS

2,730,298

3,211,997

TOTAL ASSETS LESS CURRENT LIABILITIES

2,926,240

3,481,469

CREDITORS

Amounts falling due after more than one year

7

1,172,272

1,308,364

NET ASSETS

1,753,968

2,173,105

CAPITAL AND RESERVES

Called up share capital

2,280

2,280

Capital redemption reserve

120

120

Retained earnings

1,751,568

2,170,705

SHAREHOLDERS' FUNDS

1,753,968

2,173,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 4 December 2022 and were signed on its behalf by:

S W Morrow - Director

1.	STATUTORY INFORMATION

Northvale Construction Ltd 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.

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 represents income receivable for the year, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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 13 (2021 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2021

57,534

368,971

426,505

Additions

-

32,989

32,989

Disposals

(57,534

)

-

(57,534

)

At 31 March 2022

-

401,960

401,960

DEPRECIATION

At 1 April 2021

-

157,033

157,033

Charge for year

-

48,985

48,985

At 31 March 2022

-

206,018

206,018

NET BOOK VALUE

At 31 March 2022

-

195,942

195,942

At 31 March 2021

57,534

211,938

269,472

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

622,606

54,200

Other debtors

624,490

596,641

1,247,096

650,841

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

17,953

17,953

Trade creditors

1,057,858

629,374

Taxation and social security

15,491

62,529

Other creditors

1,941,163

992,621

3,032,465

1,702,477

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

1,131,884

1,250,000

Hire purchase contracts

40,388

58,364

1,172,272

1,308,364

8.	RELATED PARTY DISCLOSURES

The directors, Mr S Morrow and Mr K Beaton, operate a loan account with the company which enables it to trade on a day to day basis. At the year end the company owed the directors £119,004 (2021-£55,398) on this loan account. Dividends amounting to £250,000 were paid to the directors during the year.

The company made donations to various charities amounting to £4,460 in the year.

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of the director and main shareholder, Mr S Morrow, throughout the accounting and previous accounting period.