North Engineering Works Limited
|
Registered Number
:
SC
084215
|
For the year ended 31 August 2021
Scotland
Unaudited Financial Statements
For the year ended 31 August 2021
North Engineering Works Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
North Engineering Works Limited
Statement of Financial Position
2020
2021
Property
,
plant and equipment
|
181,899
204,431
2
181,899
204,431
220,520
254,485
3
Trade and other receivables
|
310,261
401,802
4
325,249
Cash and cash equivalents
|
355,685
1,011,972
856,030
Trade and other payables
:
amounts falling due within one year
|
(236,183)
(341,468)
5
619,847
670,504
Net current assets
Total assets less current liabilities
|
852,403
824,278
852,403
Net assets
824,278
100
100
852,303
824,178
852,403
824,278
Shareholders' funds
For the year ended 31 August 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006
|
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 30 May 2022 and were signed by:
|
The notes form part of these financial statements
|
1 of 3
For the year ended 31 August 2021
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 3
For the year ended 31 August 2021
North Engineering Works Limited
Notes to the Financial Statements Continued
2
.
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
|
560,337
22,127
372,540
165,670
Charge for year
22,532
486
9,981
12,065
582,869
22,613
382,521
177,735
123,883
56,559
1,457
181,899
135,948
66,540
1,943
204,431
2020
2021
254,485
220,520
4
.
Trade and other receivables
|
2020
2021
401,802
310,261
5
.
Trade and other payables
:
amounts falling due within one year
|
2020
2021
215,918
57,796
Taxation and social security
|
116,349
167,862
9,201
10,525
341,468
236,183
6
.
Average number of persons employed
|
During the year the average number of employees was 18 (2020 : 17)
3 of 3