NGJ Holdings Limited
NGJ Holdings Limited
Registered number: 08179361
Abbreviated accounts
For The Year Ended 31 December 2015
Holden & Company
Certified Practising Accountants
50 - 54 Berry Lane
Longridge
Preston
Lancashire
PR3 3JP
NGJ Holdings Limited
Accountant's Report
For The Year Ended 31 December 2015
Accountant's Report
In accordance with your instructions, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the Company which comprise the Profit and Loss Account and Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.
This report is made to the Company’s Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s Board of Directors, as a body, for our work or for this report.
You have acknowledged on the balance sheet your duty to ensure that the Company has kept proper accounting records and to prepare financial statements for the year ended 31st December 2013 that give a true and fair view under the Companies Act 2006. You consider that the Company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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Holden & Company
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24/02/2016
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Holden & Company
Certified Practising Accountants
50 - 54 Berry Lane
Longridge
Preston
Lancashire
PR3 3JP
Page 1
NGJ Holdings Limited
Company No. 08179361
Abbreviated Balance Sheet
31 December 2015
Abbreviated Balance Sheet
| 2015 | 2014 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 2 |
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| 1,598,779 | 1,231,002 | ||||
| CURRENT ASSETS | |||||
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| Debtors |
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| Investments | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 4 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS |
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NGJ Holdings Limited
Company No. 08179361
Abbreviated Balance Sheet (continued)
31 December 2015
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
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NGJ Holdings Limited
Notes to the Abbreviated Accounts
For The Year Ended 31 December 2015
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company during the year, net of Value Added Tax.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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Investment properties
Investment properties are stated at cost which is contrary to Statement of Standard Accounting Policy No.19, which requires them to be stated at open market value. This accounting treatment obviates the need for annual accounting adjustments to reflect short term fluctuations in market sentiment and the vagaries of valuation.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and are depreciated over their expected useful lives. The obligations under such agreements are included in the creditors net of the finance charges allocated to future periods. The finance element of the repayments are charged to the profit and loss account on a straight line basis over the period of each agreement. Although contrary to the requirements of Statement of Standard Accounting Policy No.21, this alternative treatment is not considered material to the results disclosed.
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to profit and loss accounts as incurred.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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NGJ Holdings Limited
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 December 2015
Tangible Assets
| Total | |
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| Cost | £ |
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| Additions |
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| Disposals |
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| Depreciation | |
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| Provided during the period |
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| Disposals |
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| Net Book Value | |
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Included above are assets held under hire purchase contracts with a net book value as follows:
| 2015 | 2014 | ||
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| £ | £ | ||
| Plant & Machinery |
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| Motor Vehicles |
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Current Asset Investments
| 2015 | 2014 | ||
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| £ | £ | ||
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This company holds 70% of the ordinary share capital in Steel Work Construction Limited, a company which provides engineering, welding and steel fabricating to the construction industry and is registered in England. The capital reserves of this undertaking at 31st December 2015 amounted to £987,352 (£2014 - £497,649) and its profit for the year was £616,703 (2014 £283,057).
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NGJ Holdings Limited
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 December 2015
Creditors: Amounts Falling Due After More Than One Year
| 2015 | 2014 | ||
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| Net obligations under finance lease and hire purchase contracts |
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Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 2015 | 2014 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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Transactions With and Loans to Directors
Dividends paid to directors
| 2015 | 2014 | |
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| £ | £ | |
| Mr Benjamin Lee | 74,896 | 116,831 |
| Mrs Lindsey Lee | 49,931 | 77,888 |
Ultimate Controlling Party
The company's ultimate controlling party is BJ Lee by virtue of his ownership of 60% of the issued share capital in the company.
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