NIGEL GEOFFREY LTD - Accounts

NIGEL GEOFFREY LTD - Accounts

NIGEL GEOFFREY LTD - Company Information

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Registered Number: 08950725
England and Wales

 

 

 

NIGEL GEOFFREY LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

NIGEL GEOFFREY LTD
Contents Page
For the year ended 31 March 2022
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
D.B. Business Services (Derbyshire) Ltd
31 March 2022



....................................................
D.B. Business Services (Derbyshire) Ltd
Technique Tower Business Park
High Street
Clay Cross, Chesterfield
Derbyshire
S45 9EA
15 December 2022
1
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 41,937    49,404 
41,937    49,404 
Current assets      
Stocks 217,904    137,114 
Debtors (70,621)   (6,149)
Cash at bank and in hand 44,497    37,425 
191,780    168,390 
Creditors: amount falling due within one year (155,190)   (142,772)
Net current assets 36,590    25,618 
 
Total assets less current liabilities 78,527    75,022 
Creditors: amount falling due after more than one year (43,994)   (50,000)
Provisions for liabilities 5,862    (2,996)
Net assets 40,395    22,026 
 

Capital and reserves 		     
Profit and loss account 40,395    22,026 
Shareholder's funds 40,395    22,026 
 


For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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 director on 15 December 2022 and were signed by:


--------------------------------
Nigel Palfreyman
Director
2
General Information
NIGEL GEOFFREY LTD is a private company, limited by shares, registered in England and Wales, registration number 08950725, registration address Unit L Wingfield View, Clay Cross, Chesterfield, Derbyshire, S45 9HX.

The presentation currency is £ sterling.
1.

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
Revenue from the sale of goods is recognised net of VAT when the significant risks and rewards of ownership have been transferred to the buyer.
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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
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:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 10% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Motor vehicle inventories are stated at the lower of cost and net realisable value.  Net realisable value is assessed upon recent industry activity.  Whilst this data is deemed representative of current values it is possible the ultimate sales values can vary from those applied.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2021 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 April 2021 28,750    35,585    64,335 
Additions 146    -    146 
Disposals -    -    - 
At 31 March 2022 28,896    35,585    64,481 
Depreciation
At 01 April 2021 2,310    12,621    14,931 
Charge for year 5,317    2,296    7,613 
On disposals -    -    - 
At 31 March 2022 7,627    14,917    22,544 
Net book values
Closing balance as at 31 March 2022 21,269    20,668    41,937 
Opening balance as at 01 April 2021 26,440    22,964    49,404 


4.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2022
£		   2021
£
1 Class A share of £1.00 each 1    1 
1    1 

3