0 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 16,200 14,623 400 15,023 1,177 1,577 xbrli:pure xbrli:shares iso4217:GBP 07621418 2022-01-01 2022-12-31 07621418 2022-12-31 07621418 2021-12-31 07621418 2021-12-31 07621418 core:FurnitureFittings 2022-01-01 2022-12-31 07621418 core:MotorVehicles 2022-01-01 2022-12-31 07621418 bus:Director1 2022-01-01 2022-12-31 07621418 core:MotorVehicles 2021-12-31 07621418 core:MotorVehicles 2022-12-31 07621418 core:WithinOneYear 2022-12-31 07621418 core:WithinOneYear 2021-12-31 07621418 core:ShareCapital 2022-12-31 07621418 core:ShareCapital 2021-12-31 07621418 core:RetainedEarningsAccumulatedLosses 2022-12-31 07621418 core:RetainedEarningsAccumulatedLosses 2021-12-31 07621418 core:MotorVehicles 2021-12-31 07621418 bus:SmallEntities 2022-01-01 2022-12-31 07621418 bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 07621418 bus:FullAccounts 2022-01-01 2022-12-31 07621418 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 07621418 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31
COMPANY REGISTRATION NUMBER: 07621418
Nuglaze Home Services Limited
Filleted Unaudited Financial Statements
31 December 2022
Nuglaze Home Services Limited
Statement of Financial Position
31 December 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
4
1,177
1,577
Current assets
Debtors
5
207,685
195,621
Cash at bank and in hand
70,105
51,933
---------
---------
277,790
247,554
Creditors: amounts falling due within one year
6
116,837
145,466
---------
---------
Net current assets
160,953
102,088
---------
---------
Total assets less current liabilities
162,130
103,665
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
162,030
103,565
---------
---------
Shareholders funds
162,130
103,665
---------
---------
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 Section 1A of 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.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 September 2023 , and are signed on behalf of the board by:
Mr W Varney
Director
Company registration number: 07621418
Nuglaze Home Services Limited
Notes to the Financial Statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 32 Hobbs Industrial Estate, Newchapel, Surrey, RH7 6HN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Fixture and Fittings
-
25% straight line
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. 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 entity after deducting all of its financial liabilities.
4. Tangible assets
Motor vehicles
£
Cost
At 1 January 2022 and 31 December 2022
16,200
--------
Depreciation
At 1 January 2022
14,623
Charge for the year
400
--------
At 31 December 2022
15,023
--------
Carrying amount
At 31 December 2022
1,177
--------
At 31 December 2021
1,577
--------
5. Debtors
2022
2021
£
£
Trade debtors
69,105
119,387
Amounts owed by group undertakings and undertakings in which the company has a participating interest
67,907
70,907
Other debtors
70,673
5,327
---------
---------
207,685
195,621
---------
---------
6. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
73,592
94,013
Social security and other taxes
15,972
41,360
Other creditors
27,273
10,093
---------
---------
116,837
145,466
---------
---------
7. Related party transactions
The company was under the control of Mr Varney throughout the current and previous year. Mr Varney is the managing director and was majority shareholder until December 2015, when the shares were acquired by Duaris Limited, a company controlled by Mr Varney. No other transactions with related parties were undertaken such as are required to be disclosed under FRS102.
8. Controlling party
The ultimate parent company is Duaris Limited, a company incorporated in the UK. The registered address of Duaris Limited is: Duaris House, Imberhorne Way, East Grinstead,West Sussex, RH19 1RL, company number 00685899.