NDL Electrical Installations Ltd Filleted accounts for Companies House (small and micro)

NDL ELECTRICAL INSTALLATIONS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 10736566

NDL Electrical Installations Ltd

Filleted Unaudited Financial Statements

For the year ended

31 March 2021

NDL Electrical Installations Ltd

Financial Statements

Year ended 31 March 2021

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

NDL Electrical Installations Ltd

Officers and Professional Advisers

The board of directors	Mr T A Hooper
	Mr J P Farmer

Registered office	16 The Ropewalk
	Ilkeston
	England
	DE7 5HX

Accountants	Swandec
	Chartered Accountants
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

NDL Electrical Installations Ltd

Statement of Financial Position

31 March 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	4	5,501	6,267

Current assets

Stocks		–	4,538
Debtors	5	78,417	13,266
Cash at bank and in hand		838	1,639
		--------	--------
		79,255	19,443

Creditors: amounts falling due within one year	6	53,094	37,161
		--------	--------
Net current assets/(liabilities)		26,161	( 17,718)
		--------	--------
Total assets less current liabilities		31,662	( 11,451)

Creditors: amounts falling due after more than one year	7	45,833	–
		--------	--------
Net liabilities		( 14,171)	( 11,451)
		--------	--------

Capital and reserves

Called up share capital	8	120	100
Profit and loss account		( 14,291)	( 11,551)
		--------	--------
Shareholders deficit		( 14,171)	( 11,451)
		--------	--------

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 income statement has not been delivered.

For the year ending 31 March 2021 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

NDL Electrical Installations Ltd

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 21 July 2021 , and are signed on behalf of the board by:

Mr T A Hooper

Director

Company registration number: 10736566

NDL Electrical Installations Ltd

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 The Ropewalk, Ilkeston, England, DE7 5HX.

2. Accounting policies

Basis of preparation

At 31st March 2021 the company had net liabilities of £14,171. The company is reliant on the continued support of the director. The director has confirmed his intention to support the company for at least 12 months from the date of signing the accounts. On the above basis, the director considers that the accounts should be prepared on a going concern basis.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced for work carried out during the year, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Office Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2020: 5 ).

4. Tangible assets

	Plant and machinery	Motor vehicles	Office Equipment	Total
	£	£	£	£
Cost
At 1 April 2020	620	14,235	–	14,855
Additions	–	–	1,068	1,068
	----	--------	-------	--------
At 31 March 2021	620	14,235	1,068	15,923
	----	--------	-------	--------
Depreciation
At 1 April 2020	358	8,230	–	8,588
Charge for the year	66	1,501	267	1,834
	----	--------	-------	--------
At 31 March 2021	424	9,731	267	10,422
	----	--------	-------	--------
Carrying amount
At 31 March 2021	196	4,504	801	5,501
	----	--------	-------	--------
At 31 March 2020	262	6,005	–	6,267
	----	--------	-------	--------

5. Debtors

	2021	2020
	£	£
Trade debtors	68,417	13,266
Other debtors	10,000	–
	--------	--------
	78,417	13,266
	--------	--------

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	4,167	–
Trade creditors	37,343	28,489
Corporation tax	170	–
Social security and other taxes	9,125	6,419
Other creditors	56	–
Other creditors	2,233	2,253
	--------	--------
	53,094	37,161
	--------	--------

7. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	45,833	–
	--------	----

8. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary A shares of £ 1 each	120	120	80	80
Ordinary B shares of £ 1 each	–	–	20	20
	----	----	----	----
	120	120	100	100
	----	----	----	----

9. Directors' advances, credits and guarantees

At the statement of financial position date the amount owing to the director from the company was £1,313 (2020:£1,333). The directors loan account is unsecured, interest free and repayable on demand.