Norwest Projects Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05414855 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

NORWEST PROJECTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A R J Barlow

SECRETARY:

Mrs K L Barlow

REGISTERED OFFICE:

Office 1

Ellenbrook Village Centre

Morston Close

Worsley

Greater Manchester

M28 1PB

REGISTERED NUMBER:

05414855 (England and Wales)

ACCOUNTANTS:

Percy Westhead & Company

Chartered Accountants

Hanover House

30-32 Charlotte Street

Manchester

M1 4FD

FIXED ASSETS

Tangible assets

4

49,239

9,957

CURRENT ASSETS

Debtors

5

379,086

656,986

Cash at bank

737,477

510,782

1,116,563

1,167,768

CREDITORS

Amounts falling due within one year

6

176,066

317,126

NET CURRENT ASSETS

940,497

850,642

TOTAL ASSETS LESS CURRENT LIABILITIES

989,736

860,599

PROVISIONS FOR LIABILITIES

12,310

1,892

NET ASSETS

977,426

858,707

CAPITAL AND RESERVES

Called up share capital

94

100

Retained earnings

977,332

858,607

977,426

858,707

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 12th December 2023 and were signed by:

A R J Barlow - Director

1.	STATUTORY INFORMATION

Norwest Projects 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 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.

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

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 7 (2022 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2022

131,492

26,595

158,087

Additions

63,074

-

63,074

At 31st March 2023

194,566

26,595

221,161

DEPRECIATION

At 1st April 2022

125,254

22,876

148,130

Charge for year

22,006

1,786

23,792

At 31st March 2023

147,260

24,662

171,922

NET BOOK VALUE

At 31st March 2023

47,306

1,933

49,239

At 31st March 2022

6,238

3,719

9,957

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

372,471

650,371

Other debtors

6,615

6,615

379,086

656,986

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

77,571

160,605

Corporation tax

39,744

68,960

Social security and other taxes

12,229

9,842

VAT

24,003

69,657

Other creditors

10,752

773

Accruals and deferred income

11,767

7,289

176,066

317,126