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REGISTERED NUMBER: 04189963 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Nowhere Group Limited

Nowhere Group Limited (Registered number: 04189963)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nowhere Group Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: N Udall
M A Cornwell
A M Kitt
B Kay
M G Malig
Dr A Craig





SECRETARY: A D Turner





REGISTERED OFFICE: 6 Lichfield Street
Burton on Trent
Staffordshire
DE14 3RD





REGISTERED NUMBER: 04189963 (England and Wales)





ACCOUNTANTS: Bourne & Co
Chartered Accountants
6 Lichfield Street
Burton-on-Trent
Staffordshire
DE14 3RD

Nowhere Group Limited (Registered number: 04189963)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,089 9,212
Investments 5 25 25
6,114 9,237

CURRENT ASSETS
Stocks 44,726 19,117
Debtors 6 1,559,722 1,033,848
Cash at bank 1,967,417 2,665,713
3,571,865 3,718,678
CREDITORS
Amounts falling due within one year 7 888,332 1,141,019
NET CURRENT ASSETS 2,683,533 2,577,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,689,647

2,586,896

PROVISIONS FOR LIABILITIES 541 66
NET ASSETS 2,689,106 2,586,830

Nowhere Group Limited (Registered number: 04189963)

Balance Sheet - continued
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 18 18
Share premium 10 20,420 20,420
Capital redemption reserve 10 104 104
Retained earnings 10 2,668,564 2,566,288
SHAREHOLDERS' FUNDS 2,689,106 2,586,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





N Udall - Director


Nowhere Group Limited (Registered number: 04189963)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Nowhere Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost and 10% on cost
Computer equipment - Straight line over 1 year

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


Nowhere Group Limited (Registered number: 04189963)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Trade debtors
Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Trade creditors
Short term creditors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Grants
Grants received towards revenue expenditure are recognised as other income in the year in which the revenue expenditure is incurred.

Grants received towards capital expenditure are accounted for on the accruals basis and are released to the profit and loss account to match the depreciation policy of the asset to which they relate.

Job Retention Scheme grant income is recognised in the period to which the underlying furloughed staff costs relate. The payroll liability has been incurred by the entity, and it has therefore met the conditions for the claim.

The local authority discretionary grants received are recognised in the period in which these grants are received.

Nowhere Group Limited (Registered number: 04189963)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2022 21,419 119,803 141,222
Additions - 13,523 13,523
At 31 January 2023 21,419 133,326 154,745
DEPRECIATION
At 1 February 2022 21,265 110,745 132,010
Charge for year 131 16,515 16,646
At 31 January 2023 21,396 127,260 148,656
NET BOOK VALUE
At 31 January 2023 23 6,066 6,089
At 31 January 2022 154 9,058 9,212

5. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 February 2022
and 31 January 2023 25
NET BOOK VALUE
At 31 January 2023 25
At 31 January 2022 25

Nowhere Group Limited (Registered number: 04189963)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Nowhere Digital Ltd
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 25.00
28.2.23 28.2.22
£    £   
Aggregate capital and reserves 100 100

6. DEBTORS
31.1.23 31.1.22
£    £   
Amounts falling due within one year:
Trade debtors 1,129,555 688,610
Directors' current accounts 219,900 210,000
Corporation tax recoverable 9,783 3,754
Called up share capital not paid 5 5
Prepayments 129,011 63,229
1,488,254 965,598

Amounts falling due after more than one year:
Corporation tax recoverable 71,468 68,250

Aggregate amounts 1,559,722 1,033,848

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 26,605 16,981
Corporation tax 35,331 37,411
Social security and other taxes 83,397 66,721
Other creditors 35,001 23,669
Accruals and deferred income 707,998 996,237
888,332 1,141,019

Nowhere Group Limited (Registered number: 04189963)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.23 31.1.22
£    £   
Within one year 54,378 23,035
Between one and five years 63,131 31,976
117,509 55,011

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
1 Special £1 1 1
629 Ordinary £0.01 6 6
7 7

Allotted and issued:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
11 Dividend A and C - L shares £1 11 11

10. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 February 2022 2,566,288 20,420 104 2,586,812
Profit for the year 247,428 247,428
Dividends (145,152 ) (145,152 )
At 31 January 2023 2,668,564 20,420 104 2,689,088

Nowhere Group Limited (Registered number: 04189963)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
M A Cornwell
Balance outstanding at start of year 140,000 140,000
Amounts repaid (30,100 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 109,900 140,000

N Udall
Balance outstanding at start of year 70,000 70,000
Amounts advanced 40,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 110,000 70,000

The loans are interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The company is under the control of N Udall, one of the directors of the company, by virtue of him holding 55.6% of the ordinary share capital.