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Registered number: 11149746












NONNA TONDA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

 

NONNA TONDA LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 12


 

NONNA TONDA LIMITED
 
COMPANY INFORMATION


Directors
J French 
R French 
R M French 




Registered number
11149746



Registered office
Unit 1 Boundary Business Court
Church Road

Mitcham

England

CR4 3TD




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




1 -


 
REGISTERED NUMBER:11149746
NONNA TONDA LIMITED

BALANCE SHEET
AS AT 30 SEPTEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
425,730
124,737

Current assets
  

Stocks
  
28,963
2,000

Debtors: amounts falling due within one year
 5 
164,151
64,558

Cash at bank and in hand
  
110,619
64,425

  
303,733
130,983

Creditors: amounts falling due within one year
 6 
(387,202)
(204,043)

Net current liabilities
  
 
 
(83,469)
 
 
(73,060)

Total assets less current liabilities
  
342,261
51,677

Creditors: amounts falling due after more than one year
 7 
(195,014)
(84,034)

  

Net assets/(liabilities)
  
147,247
(32,357)


Capital and reserves
  

Called up share capital 
 10 
300
263

Share premium account
  
399,940
149,978

Other reserves
  
313,500
-

Profit and loss account
  
(566,493)
(182,598)

Total equity/(deficit)
  
147,247
(32,357)


2 -


 
REGISTERED NUMBER:11149746
NONNA TONDA LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2021

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006 and in accordance with Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J French
Director
Date: 24 August 2022

The notes on pages 4 to 12 form part of these financial statements.

3 -

 

NONNA TONDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.


General information

Nonna Tonda Limited is a private company limited by shares incorporated in England and Wales. Its registered office is Unit 1 Boundary Business Court, Church Road, Mitcham, England, CR4 3TD.
The financial statements are presented in Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

4 -

 

NONNA TONDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

5 -

 

NONNA TONDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
20%
Fixtures and fittings
-
25%
Other fixed assets
-
20%
Computer equipment
-
33%
Website development
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
 
6 -

 

NONNA TONDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)





Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
 
Financial liabilities
Basic financial liabilities, including trade, other creditors and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
 
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
 
7 -

 

NONNA TONDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)





Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.14

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2020 - 7).

8 -

 

NONNA TONDA LIMITED
 
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021


4.


Tangible fixed assets






Plant and 
machinery
Motor vehicles
Fixtures and fittings
Other fixed assets
Computer equipment
Website development
Total

£
£
£
£
£
£
£



Cost


At 1 October 2020
52,340
54,025
15,604
-
-
16,000
137,969


Additions
158,873
119,049
47,525
38,140
1,088
21,590
386,265



At 30 September 2021

211,213
173,074
63,129
38,140
1,088
37,590
524,234



Depreciation


At 1 October 2020
9,139
2,701
325
-
-
1,067
13,232


Charge for the year on owned assets
30,985
-
14,591
-
212
7,189
52,977


Charge for the year on right-of-use assets
7,760
23,114
-
1,421
-
-
32,295



At 30 September 2021

47,884
25,815
14,916
1,421
212
8,256
98,504



Net book value



At 30 September 2021
163,329
147,259
48,213
36,719
876
29,334
425,730



At 30 September 2020
43,201
51,324
15,279
-
-
14,933
124,737

9-

 

NONNA TONDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

2021
2020
        £
        £

Motor vehicles

147,259

51,324

Other fixed assets

36,719

-

Plant and machinery

42,356

-


226,334

51,324



5.


Debtors

2021
2020
£
£


Trade debtors
49,854
14,108

Other debtors
86,333
50,450

Prepayments and accrued income
27,964
-

164,151
64,558



6.


Creditors: amounts falling due within one year

2021
2020
£
£

Bank loans
10,000
3,339

Trade creditors
193,968
67,514

Other taxation and social security
48,233
17,318

Net obligations under finance leases and hire purchase contracts
54,861
9,893

Other creditors
28,628
90,324

Accruals and deferred income
51,512
15,655

387,202
204,043


Bank loans are secured by the UK Government.
The obligations under finance leases and hire purchase contracts, shown above, are secured over the assets to which they relate.

10 -

 

NONNA TONDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

7.


Creditors: amounts falling due after more than one year

2021
2020
£
£

Bank loans
36,667
46,661

Net obligations under finance leases and hire purchase contracts
158,347
37,373

195,014
84,034


Bank loans are secured by the UK Government.
The obligations under finance leases and hire purchase contracts, shown above, are secured over the assets to which they relate.


8.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
10,000
3,339

Amounts falling due 1-2 years

Bank loans
10,000
10,200

Amounts falling due 2-5 years

Bank loans
26,667
36,461


46,667
50,000



9.


Hire purchase and finance leases


2021
2020
£
£


Within one year
54,861
9,893

Between 1-5 years
157,223
37,373

Over 5 years
1,125
-

213,209
47,266

11 -

 

NONNA TONDA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

10.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



3,000 (2020 - 2,625) Ordinary shares of £0.10 each
300.00
262.50


On 6 November 2020, 75 ordinary shares of £0.10 nominal value were issued at a premium of £666.57. The total share premium amounted to £49,992.
On 3 December 2020, 75 ordinary shares of £0.10 nominal value were issued at a premium of £666.57. The total share premium amounted to £49,992.
On 26 January 2021, 225 ordinary shares of £0.10 nominal value were issued at a premium of £666.57. The total share premium amounted to £149,978.


11.


Commitments under operating leases

At 30 September 2021 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
30,254
31,000

Later than 1 year and not later than 5 years
181,524
240,540

211,778
271,540


12.


Related party transactions

During the year the company wrote off an amount of £nil (2020: £42,018) due from Nomadic Catering Ltd and £nil (2020: £6,907) due from Roti Roll Ltd, companies that were both under the control of J French and which have been dissolved at Companies House.

 
12 -