North Quay Trading Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03185468 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

NORTH QUAY TRADING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M H Lipson-Green

SECRETARY:

Mrs S J Lipson-Green

REGISTERED OFFICE:

Unit 47 Joseph Wilson Industrial Estate

Millstrood Road

Whitstable

Kent

CT5 3PS

REGISTERED NUMBER:

03185468 (England and Wales)

ACCOUNTANTS:

George & Co.

Chartered Accountants

44a Joy Lane

Whitstable

Kent

CT5 4LT

FIXED ASSETS

Tangible assets

4

41,659

22,649

CURRENT ASSETS

Stocks

31,787

43,190

Debtors

5

71,240

89,693

Cash at bank

124,797

5,757

227,824

138,640

CREDITORS

Amounts falling due within one year

6

107,474

125,123

NET CURRENT ASSETS

120,350

13,517

TOTAL ASSETS LESS CURRENT LIABILITIES

162,009

36,166

CREDITORS

Amounts falling due after more than one year

7

(21,508

)

(31,463

)

PROVISIONS FOR LIABILITIES

(10,121

)

(4,031

)

NET ASSETS

130,380

672

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

130,280

572

SHAREHOLDERS' FUNDS

130,380

672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 4 July 2023 and were signed by:

M H Lipson-Green - Director

1.	STATUTORY INFORMATION

North Quay Trading 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 10 (2022 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2022

175,280

Additions

32,908

At 30 April 2023

208,188

DEPRECIATION

At 1 May 2022

152,631

Charge for year

13,898

At 30 April 2023

166,529

NET BOOK VALUE

At 30 April 2023

41,659

At 30 April 2022

22,649

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

71,240

89,693

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

9,973

9,727

Trade creditors

9,686

74,203

Taxation and social security

84,484

38,044

Other creditors

3,331

3,149

107,474

125,123

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

21,508

31,463

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

31,481

41,190

The company has provided a debenture in the form of a fixed charge over all assets of the company to secure all the company's liabilities to the company's bankers.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 May 2022

572

Profit for the year

167,008

Dividends

(37,300

)

At 30 April 2023

130,280