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REGISTERED NUMBER:
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NLA (SERVICES) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2017 |
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REGISTERED NUMBER:
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NLA (SERVICES) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2017 |
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NLA (SERVICES) LIMITED (REGISTERED NUMBER: 02653474) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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NLA (SERVICES) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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NLA (SERVICES) LIMITED (REGISTERED NUMBER: 02653474) |
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BALANCE SHEET |
31 OCTOBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
NLA (SERVICES) LIMITED (REGISTERED NUMBER: 02653474) |
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BALANCE SHEET - continued |
31 OCTOBER 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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NLA (SERVICES) LIMITED (REGISTERED NUMBER: 02653474) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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1. | STATUTORY INFORMATION |
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NLA (Services) Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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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" and the Companies |
Act 2006. The financial statements have been prepared under the historical cost convention |
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The financial statements are presented in sterling (£) which is also the functional currency for the |
company. |
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Transition to FRS 102 |
The company transitioned from previously extant UK GAAP to FRS 102, section 1 A as at 1 November |
2015. The transition to FRS 102, section 1A has not affected the reported financial position and |
financial performance. |
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Going concern |
After reviewing the Company's forecasts and projections and taking into account the economic |
conditions and possible changes in trading performance, the directors have a reasonable expectation |
that the Company has adequate resources to continue in operational existence for the foreseeable |
future. The Company therefore continues to adopt the going concern basis in preparing its financial |
statements. |
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Significant judgements and estimates |
The preparation of financial statements requires management to make judgements, estimates and |
assumptions about the carrying values of assets and liabilities that are not readily apparent from other |
sources. The estimates and underlying assumptions are based on historical experience and other |
factors that are considered to be relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised if the revision |
affects only that period, or in the period of the revision and future periods if the revision affects both |
current and future periods. |
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There are no key judgements and sources of estimation uncertainty that have a significant effect on |
the amounts recognised in the financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and |
value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering |
of services. |
NLA (SERVICES) LIMITED (REGISTERED NUMBER: 02653474) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
Property, Plant and Equipment is measured at cost less accumulated depreciation and accumulated |
impairment losses. |
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At each reporting date, property, plant and equipment are reviewed to determine whether there is any |
indication that those assets have suffered an 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 the 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. |
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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 |
impairment is recognised immediately in profit or loss. |
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Depreciation has been computed to write off the cost of the property, plant and equipment over their |
useful expected lives using the following rates: |
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Plant and machinery - 15% on reducing balance and 25% on cost |
Fixtures and fittings - 15% on reducing balance |
Computer equipment - 15% on reducing balance and 33% on cost |
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Stocks |
Stock has been valued at the lower of cost and the estimated selling price less costs to sell. In respect |
of work in progress and finished goods, costs include a relevant proportion of overheads dependant on |
the stage of completion. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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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. |
NLA (SERVICES) LIMITED (REGISTERED NUMBER: 02653474) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Trade and other debtors |
Trade and other debtors are measured at transaction price less any impairment unless the |
arrangement constitutes a financing transaction in which case the transaction is measured at the |
present value of the future receipts discounted at the prevailing market rate of interest . Loans are |
initially measured at fair value and are subsequently measured at amortised cost using the effective |
interest method less any impairment. |
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Trade and other creditors |
Trade and other creditors are measured at their transaction price unless the arrangement constitutes a |
financing transaction in which case the transaction is measured at present value of future payments |
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
value net of their transaction costs. They are subsequently measured at amortised cost using the |
effective interest method. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2016 |
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Additions |
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At 31 October 2017 |
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DEPRECIATION |
At 1 November 2016 |
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Charge for year |
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At 31 October 2017 |
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NET BOOK VALUE |
At 31 October 2017 |
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At 31 October 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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NLA (SERVICES) LIMITED (REGISTERED NUMBER: 02653474) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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Leases are classified as finance leases whenever the terms of the lease transfer substantially all the |
risks and rewards of ownership of the leased asset to the group/company. All other leases are |
classified as operating leases. |
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Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and |
are depreciated over the shorter of the lease term and the asset's useful lives. |
Rentals payable under operating leases are charged in the profit and loss account on a straight line |
basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis. |