Naylor Powell Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09228188 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

NAYLOR POWELL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Birt

R C W Wade

A Davis

REGISTERED OFFICE:

Unit A2 Spinnaker House

Spinnaker Road

Gloucester

Gloucestershire

GL2 5FD

REGISTERED NUMBER:

09228188 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

4

258,333

333,333

Tangible assets

5

36,224

26,538

294,557

359,871

CURRENT ASSETS

Debtors

6

184,954

273,663

Cash at bank and in hand

327,886

132,794

512,840

406,457

CREDITORS

Amounts falling due within one year

7

281,066

208,372

NET CURRENT ASSETS

231,774

198,085

TOTAL ASSETS LESS CURRENT LIABILITIES

526,331

557,956

CREDITORS

Amounts falling due after more than one year

8

(410,394

)

(452,636

)

PROVISIONS FOR LIABILITIES

(5,158

)

(4,798

)

NET ASSETS

110,779

100,522

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

110,379

100,122

SHAREHOLDERS' FUNDS

110,779

100,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2022 and were signed on its behalf by:

J Birt - Director

A Davis - Director

R C W Wade - Director

1.	STATUTORY INFORMATION

Naylor Powell Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 net invoiced sales of services, excluding value added tax. Letting management income is recognised in month rent is received. Property commissions are recognised upon completion of property. Valuations are recognised when the work is completed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

7.5% on cost

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss over the expected useful lives of the assets to which they relate. Government grants which are not directly attributable to fixed assets are recognised in the profit and loss in accordance with the accruals method in line with FRS 102.

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Going concern

Covid-19 has had minimal impact on the business, and therefore there are no concerns regarding the ability to continue as a going concern. The property sales market remains strong and the company benefits from solid regular lettings income.

Provision

Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2020 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

750,000

AMORTISATION

At 1 July 2020

416,667

Charge for year

75,000

At 30 June 2021

491,667

NET BOOK VALUE

At 30 June 2021

258,333

At 30 June 2020

333,333

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2020

9,250

13,474

3,850

14,127

40,701

Additions

203

1,585

8,540

3,235

13,563

At 30 June 2021

9,453

15,059

12,390

17,362

54,264

DEPRECIATION

At 1 July 2020

8,194

4,127

481

1,361

14,163

Charge for year

563

857

1,224

1,233

3,877

At 30 June 2021

8,757

4,984

1,705

2,594

18,040

NET BOOK VALUE

At 30 June 2021

696

10,075

10,685

14,768

36,224

At 30 June 2020

1,056

9,347

3,369

12,766

26,538

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

70,404

44,118

Other debtors

109,367

225,873

Prepayments and accrued income

5,183

3,672

184,954

273,663

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

63,887

48,820

Trade creditors

25,099

15,561

Corporation Tax

100,962

57,362

Social security and other taxes

11,173

4,575

Pension control

2,380

1,809

VAT

75,598

76,794

Accruals and deferred income

1,967

3,451

281,066

208,372

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 2-5 years

257,133

250,209

Bank loans

153,261

202,427

410,394

452,636

2021

2020

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

153,261

202,427

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2021 and 30 June 2020:

2021

2020

£

£

J Birt

Balance outstanding at start of year

-

(31,681

)

Amounts advanced

-

31,681

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

10.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of Naylor Powell Holdings Ltd whose registered office is located at Unit A2 Spinnaker House Spinnaker Road, Hempsted, Gloucester, GL2 5FD, UK.

At the year end there was an amount owed from Naylor Powell Holdings of £84,367 (2019: £234,575).

11.	FINANCIAL COMMITMENTS

The company had total commitments at the year end of £123,723 (2019: £235,165)