Northvale Construction Ltd - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 06675365 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Northvale Construction Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S W Morrow

K Beaton

SECRETARY:

GHP Registrars Limited

REGISTERED OFFICE:

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

REGISTERED NUMBER:

06675365 (England and Wales)

ACCOUNTANTS:

Grant Harrod Lerman Davis LLP

Chartered Accountants

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

FIXED ASSETS

Tangible assets

4

174,889

195,942

CURRENT ASSETS

Stocks

869,630

1,819,300

Debtors

5

882,346

1,247,096

Cash at bank

2,027,175

2,696,367

3,779,151

5,762,763

CREDITORS

Amounts falling due within one year

6

2,359,852

3,032,465

NET CURRENT ASSETS

1,419,299

2,730,298

TOTAL ASSETS LESS CURRENT LIABILITIES

1,594,188

2,926,240

CREDITORS

Amounts falling due after more than one year

7

480,182

1,172,272

NET ASSETS

1,114,006

1,753,968

CAPITAL AND RESERVES

Called up share capital

2,280

2,280

Capital redemption reserve

120

120

Retained earnings

1,111,606

1,751,568

SHAREHOLDERS' FUNDS

1,114,006

1,753,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:

S W Morrow - Director

1.	STATUTORY INFORMATION

Northvale Construction Ltd 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 represents income receivable for the year, excluding value added tax.

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

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2022 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

401,960

Additions

22,670

At 31 March 2023

424,630

DEPRECIATION

At 1 April 2022

206,018

Charge for year

43,723

At 31 March 2023

249,741

NET BOOK VALUE

At 31 March 2023

174,889

At 31 March 2022

195,942

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

512,876

622,606

Other debtors

369,470

624,490

882,346

1,247,096

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts

22,273

17,953

Trade creditors

385,997

1,057,858

Amounts owed to group undertakings

1,000,000

-

Taxation and social security

143,692

15,491

Other creditors

807,890

1,941,163

2,359,852

3,032,465

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

448,386

1,131,884

Hire purchase contracts

31,796

40,388

480,182

1,172,272

8.	RELATED PARTY DISCLOSURES

The ultimate parent undertaking is Northvale Holdings Ltd, a company incorporated in England and Wales.

A loan account is operated between the two companies which enables it to trade on a day to day basis. At the year end the company owed Northvale Holdings Ltd £1,000,000 (2022-Owed the directors £119,004) on this loan account. Dividends amounting to £1,312,651 were paid to the controlling company during the year.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S W Morrow.