N.E. Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04205972 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

N.E. SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Taylor

SECRETARY:

L S Taylor

REGISTERED OFFICE:

Savantini House

Foster Street

Stoneferry Road

Hull

East Yorkshire

HU8 8BT

REGISTERED NUMBER:

04205972 (England and Wales)

ACCOUNTANTS:

Graybrowne Limited

Chartered Accountants

The Counting House

Nelson Street

Hull

HU1 1XE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

52,363

70,817

52,363

70,817

CURRENT ASSETS

Stocks

186,650

174,760

Debtors

6

40,328

41,244

Cash at bank and in hand

81,222

67,329

308,200

283,333

CREDITORS

Amounts falling due within one year

7

264,856

210,918

NET CURRENT ASSETS

43,344

72,415

TOTAL ASSETS LESS CURRENT LIABILITIES

95,707

143,232

PROVISIONS FOR LIABILITIES

8,229

10,507

NET ASSETS

87,478

132,725

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

87,378

132,625

SHAREHOLDERS' FUNDS

87,478

132,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 8 August 2018 and were signed by:

S Taylor - Director

1.	STATUTORY INFORMATION

N.E. Services 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 the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and Companies Act 2006. There were no material departures from that standard. The financial

statements have been prepared under the historical cost convention.

Turnover

Turnover arises from the sale of goods. Turnover is measured at the fair value of the consideration received or

receivable and represents amounts for the sale of goods in the normal course of business, net of discounts and

other sales-related taxes.

Turnover from the sale of goods is recognised when the company has transferred to the buyer the significant

risks and rewards of ownership of the goods, which is when the goods are delivered to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

provided at the following annual rates calculated to write off the cost, less estimated residual value, of each asset

over its expected useful life.

Plant and machinery etc - 50% on cost, 33% on cost, 15% reducing balance, Straight line over 9 year

and Straight line over 2 years.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset,

after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at

the end of its useful life.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered a impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the

carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate

of its recoverable amount, but not in excess of the amount that would have been determined had no impairment

loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in

profit or loss.

Government grants

Government grants received are treated as deferred credits and credited to profit and loss account over the

estimated useful life of the relevant fixed asset.

Stocks

Stock is valued at the lower of cost and net realisable value, less provisions for obsolete stock, and slow moving

items. Cost is calculated using the first in, first out (FIFO) method of valuation.

Financial instruments

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or

loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2017 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2017

and 31 January 2018

10,000

AMORTISATION

At 1 February 2017

and 31 January 2018

10,000

NET BOOK VALUE

At 31 January 2018

-

At 31 January 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2017

284,487

Additions

22,036

Disposals

(127,756

)

At 31 January 2018

178,767

DEPRECIATION

At 1 February 2017

213,670

Charge for year

29,759

Eliminated on disposal

(117,025

)

At 31 January 2018

126,404

NET BOOK VALUE

At 31 January 2018

52,363

At 31 January 2017

70,817

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Other debtors

40,328

41,244

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade creditors

123,784

88,749

Taxation and social security

55,965

36,585

Other creditors

85,107

85,584

264,856

210,918

8.	OTHER FINANCIAL COMMITMENTS

As at 31 January 2018, the company had total commitments under non-cancellable operating leases over the

remaining life of those lease of £233,750 (2017 : £15000)

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 (2017 - £18,000) were paid to the director .

During the year, total property rentals of £11,250 (2017: £15,000) were paid to the director.