N L Services (Leek) Ltd - Period Ending 2014-03-31

Registration number: 07109340

N L Services (Leek) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Armstrongs
Chartered Accountants
Alexandra House
Queen Street
Leek
Staffordshire
ST13 6LP

N L Services (Leek) Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

N L Services (Leek) Ltd
(Registration number: 07109340)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					23,656			2,469
Current assets
Stocks					50,506			48,901
Debtors					17,621			16,226
Cash at bank and in hand					29,059			26,637
					97,186			91,764
Creditors: Amounts falling due within one year					(67,538)			(47,598)
Net current assets					29,648			44,166
Net assets					53,304			46,635
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					53,303			46,634
Shareholders' funds					53,304			46,635

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 30 December 2014

.........................................
Mr N E Lymer
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

N L Services (Leek) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the period, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% reducing balance method
Office equipment	10% reducing balance method
Leasehold buildings	5% straight line method
Fixtures and fittings	10% reducing balance method

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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N L Services (Leek) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		3,302			3,302
Additions		22,678			22,678
At 31 March 2014		25,980			25,980
Depreciation
At 1 April 2013		833			833
Charge for the year		1,491			1,491
At 31 March 2014		2,324			2,324
Net book value
At 31 March 2014		23,656			23,656
At 31 March 2013		2,469			2,469

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

4	Going Concern

The director has reviewed the performance of the company since the end of the accounting period. The level of turnover remains consistent, there are sufficient cashflows to meet on-going liabilities and the company is continuing to generate a profit. The director, therefore, is satisfied that there are no material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern.

Page 3