NG Consultancy North West Ltd Filleted accounts for Companies House (small and micro)

NG CONSULTANCY NORTH WEST LTD - Company Information

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COMPANY REGISTRATION NUMBER: 06934309

NG Consultancy North West Ltd

Filleted Unaudited Abridged Financial Statements

31 January 2021

NG Consultancy North West Ltd

Abridged Statement of Financial Position

31 January 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	5	3,766	4,116
Investments	6	20,000	20,000
		--------	--------
		23,766	24,116

Current assets

Stocks	125	817,208
Debtors	168,762	70,412
Cash at bank and in hand	6	6
	---------	---------
	168,893	887,626

Creditors: amounts falling due within one year	( 97,032)	( 846,825)
	---------	---------
Net current assets	71,861	40,801
	--------	--------
Total assets less current liabilities	95,627	64,917

Creditors: amounts falling due after more than one year	( 44,167)	–

Provisions	( 520)	( 782)
	--------	--------
Net assets	50,940	64,135
	--------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	49,940	63,135
	--------	--------
Shareholders funds	50,940	64,135
	--------	--------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 31 January 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 abridged 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 abridged financial statements .

NG Consultancy North West Ltd

Abridged Statement of Financial Position (continued)

31 January 2021

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 January 2021 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 31 January 2022 , and are signed on behalf of the board by:

Mr N J Gordon

Director

Company registration number: 06934309

NG Consultancy North West Ltd

Notes to the Abridged Financial Statements

Year ended 31 January 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 Rye Croft, Stainton, Penrith, Cumbria, CA11 0EP.

2. Statement of compliance

These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Taxation

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:

	Furniture, Fittings, and Equipment	-	20% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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

Debt instruments are subsequently measured at amortised cost. A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 February 2020	10,480
Additions	580
	--------
At 31 January 2021	11,060
	--------
Depreciation
At 1 February 2020	6,364
Charge for the year	930
	--------
At 31 January 2021	7,294
	--------
Carrying amount
At 31 January 2021	3,766
	--------
At 31 January 2020	4,116
	--------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 February 2020 and 31 January 2021	20,000
	--------
Impairment
At 1 February 2020 and 31 January 2021	–
	--------

Carrying amount
At 31 January 2021	20,000
	--------
At 31 January 2020	20,000
	--------

Subsidiaries, associates and other investments

The company owns 100% of the issued share capital of Grant Limited, a company incorporated in England and Wales. Profit and loss account reserve

	2021	2020
	£	£
Grant Limited	395,837	419,922

Aggregate capital and reserves

	2021	2020
	£	£
Grant Limited	395,937	420,022

Under the provision of section 248 of the Companies Act 1985 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.