North Engineering Works Limited
|
Registered Number
:
SC
084215
|
For the year ended 31 August 2019
Scotland
Unaudited Financial Statements
For the year ended 31 August 2019
North Engineering Works Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
North Engineering Works Limited
Statement of Financial Position
2018
2019
13,401
28,465
2
Property
,
plant and equipment
|
228,885
255,627
3
242,286
284,092
163,686
199,918
4
Trade and other receivables
|
296,919
323,459
5
294,567
Cash and cash equivalents
|
330,445
853,822
755,172
Trade and other payables
:
amounts falling due within one year
|
(359,560)
(273,152)
6
395,612
580,670
Net current assets
Total assets less current liabilities
|
822,956
679,704
822,956
Net assets
679,704
100
100
822,856
679,604
822,956
679,704
Shareholders' funds
For the year ended 31 August 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006
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The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 06 May 2020 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 August 2019
North Engineering Works Limited
Notes to the Financial Statements
Statutory Information
North Engineering Works Limited is a private limited company
,
limited by shares
,
domiciled in Scotland
,
registration number SC
084215
.
|
Block 24
Kilspindie Road
Dundee
DD2 3QH
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of 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 costs convention as modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 15 years.
|
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Land and buildings
Plant and machinery
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
For the year ended 31 August 2019
North Engineering Works Limited
Notes to the Financial Statements Continued
2
.
Intangible fixed assets
|
Goodwill
225,964
225,964
197,499
15,064
Charge for year
212,563
13,401
28,465
3
.
Property
,
plant and equipment
|
Motor vehicles
Land and buildings
764,768
24,070
439,080
301,618
301,618
439,080
24,070
764,768
Provision for depreciation and impairment
|
509,141
20,617
346,984
141,540
Charge for year
26,742
863
13,814
12,065
535,883
21,480
360,798
153,605
148,013
78,282
2,590
228,885
160,078
92,096
3,453
255,627
2018
2019
199,918
163,686
3 of 4
For the year ended 31 August 2019
North Engineering Works Limited
Notes to the Financial Statements Continued
5
.
Trade and other receivables
|
2018
2019
318,003
288,357
5,456
8,562
296,919
323,459
6
.
Trade and other payables
:
amounts falling due within one year
|
2018
2019
92,736
239,314
Taxation and social security
|
171,364
107,301
9,052
12,945
273,152
359,560
7
.
Average number of persons employed
|
During the year the average number of employees was 17 (2018 : 16)
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