NC15 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09803871 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2018

for

NC15 Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs F N Ward

C S Ward

REGISTERED OFFICE:

Rose Cottage

Church Way

Neyland

Pembrokeshire

SA73 1QL

REGISTERED NUMBER:

09803871 (England and Wales)

ACCOUNTANTS:

RA Accountants LLP

Chartered Certified Accountants

2nd Floor

Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

FIXED ASSETS

Intangible assets

4

28,000

32,000

Tangible assets

5

50,054

51,200

78,054

83,200

CURRENT ASSETS

Stocks

5,134

4,500

Debtors

15,496

11,006

Cash at bank and in hand

13,360

13,281

33,990

28,787

CREDITORS

Amounts falling due within one year

57,611

45,208

NET CURRENT LIABILITIES

(23,621

)

(16,421

)

TOTAL ASSETS LESS CURRENT LIABILITIES

54,433

66,779

CREDITORS

Amounts falling due after more than one year

51,429

68,572

NET ASSETS/(LIABILITIES)

3,004

(1,793

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,904

(1,893

)

SHAREHOLDERS' FUNDS

3,004

(1,793

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 31 July 2019 and were signed on its behalf by:

Mrs F N Ward - Director

1.	STATUTORY INFORMATION

NC15 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised

evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

Straight line over 15 years

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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 19 (2017 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2017

and 31 October 2018

40,000

AMORTISATION

At 1 November 2017

8,000

Amortisation for year

4,000

At 31 October 2018

12,000

NET BOOK VALUE

At 31 October 2018

28,000

At 31 October 2017

32,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2017

80,000

Additions

11,034

At 31 October 2018

91,034

DEPRECIATION

At 1 November 2017

28,800

Charge for year

12,180

At 31 October 2018

40,980

NET BOOK VALUE

At 31 October 2018

50,054

At 31 October 2017

51,200

6.	RELATED PARTY DISCLOSURES

At the balance sheet date Other Debtor balance includes £12,444 (2017:£3,787Cr) due from director Mr C S

Ward.

The directors are also directors in NCO6 Ltd which was carrying on similar business till 31.10.2017 and the

business was transferred effective from 01.11.2017. At the year end amount owed to this company was £16,107

(2017:£1,583)

7.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors.