N.G.S. Holdings Limited 30/11/2018 iXBRL

N.G.S. Holdings Limited 30/11/2018 iXBRL

N.G.S. HOLDINGS LIMITED - Company Information

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Company registration number: 09488200
N.G.S. Holdings Limited
Unaudited filleted financial statements
30 November 2018
N.G.S. Holdings Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
N.G.S. Holdings Limited
Directors and other information
Directors A Brown
S Brown
Company number 09488200
Registered office 437 Shirley Road
Hall Green
Birmingham
B27 7NX
Business address 5 Ashby Court
Solihull
West Midlands
B91 3YU
Accountants Thursfield & Co
Holbeche House
437 Shirley Road
Birmingham
West Midlands
B28 8AD
Bankers Bank of Scotland
600 Georgie Road
Edinburgh
N.G.S. Holdings Limited
Statement of financial position
30 November 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 4 1,942,568 -
Investments 5 200 100
_______ _______
1,942,768 100
Current assets
Cash at bank and in hand 31,542 1,830,434
_______ _______
31,542 1,830,434
Creditors: amounts falling due
within one year 6 ( 3,086) ( 2,261)
_______ _______
Net current assets 28,456 1,828,173
_______ _______
Total assets less current liabilities 1,971,224 1,828,273
_______ _______
Net assets 1,971,224 1,828,273
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,971,124 1,828,173
_______ _______
Shareholders funds 1,971,224 1,828,273
_______ _______
For the year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 August 2019 , and are signed on behalf of the board by:
A Brown
Director
Company registration number: 09488200
N.G.S. Holdings Limited
Notes to the financial statements
Year ended 30 November 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Holbeche House, 437 Shirley Road, Hall Green, Birmingham, B27 7NX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Freehold property Plant and machinery Total
£ £ £
Cost
At 1 December 2017 - - -
Additions 1,864,798 77,770 1,942,568
_______ _______ _______
At 30 November 2018 1,864,798 77,770 1,942,568
_______ _______ _______
Depreciation
At 1 December 2017 and 30 November 2018 - - -
_______ _______ _______
Carrying amount
At 30 November 2018 1,864,798 77,770 1,942,568
_______ _______ _______
At 30 November 2017 - - -
_______ _______ _______
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 December 2017 100 100
Additions 100 100
_______ _______
At 30 November 2018 200 200
_______ _______
Impairment
At 1 December 2017 and 30 November 2018 - -
_______ _______
Carrying amount
At 30 November 2018 200 200
_______ _______
At 30 November 2017 100 100
_______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Participating interest
Natural Gas Services & Connections ltd Holbeche House 437 Shirley Road Birmingham B27 7NX. Ordinary 100
The results and capital and reserves for the period of the trading companies are as follows:
Capital and Profit/(loss)
reserves for the
period
2018 2017 2018 2017
£ £ £ £
Participating interest
Natural Gas Services & Connections ltd 257,568 465,435 137,133 390,245
6. Creditors: amounts falling due within one year
2018 2017
£ £
Corporation tax - 685
Other creditors 3,086 1,576
_______ _______
3,086 2,261
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
A Brown - ( 100) ( 100)
_______ _______ _______
2017
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
A Brown - - -
_______ _______ _______