IRIS Accounts Production v23.3.1.45 07505960 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075059602022-07-31075059602023-07-31075059602022-08-012023-07-31075059602021-07-31075059602021-08-012022-07-31075059602022-07-3107505960ns10:Originalns15:EnglandWales2022-08-012023-07-3107505960ns14:PoundSterlingns10:Original2022-08-012023-07-3107505960ns10:Originalns10:Director12022-08-012023-07-3107505960ns10:Original2022-08-012023-07-3107505960ns10:Original2023-07-3107505960ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3107505960ns10:Originalns10:SmallEntities2022-08-012023-07-3107505960ns10:Originalns10:AuditExemptWithAccountantsReport2022-08-012023-07-3107505960ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3107505960ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3107505960ns10:Originalns10:FullAccounts2022-08-012023-07-3107505960ns10:Originalns10:Director22022-08-012023-07-3107505960ns10:Originalns10:Director32022-08-012023-07-3107505960ns10:CompanySecretary1ns10:Original2022-08-012023-07-3107505960ns10:Originalns10:RegisteredOffice2022-08-012023-07-3107505960ns10:Original2022-07-3107505960ns10:Originalns5:CurrentFinancialInstruments2023-07-3107505960ns10:Originalns5:CurrentFinancialInstruments2022-07-3107505960ns5:ShareCapitalns10:Original2023-07-3107505960ns5:ShareCapitalns10:Original2022-07-3107505960ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3107505960ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3107505960ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-08-012023-07-3107505960ns10:Originalns5:PlantMachinery2022-08-012023-07-3107505960ns10:Originalns5:FurnitureFittings2022-08-012023-07-3107505960ns10:Originalns5:MotorVehicles2022-08-012023-07-3107505960ns10:Originalns5:ComputerEquipment2022-08-012023-07-3107505960ns10:Original2021-08-012022-07-3107505960ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-07-3107505960ns10:Originalns5:PlantMachinery2022-07-3107505960ns10:Originalns5:FurnitureFittings2022-07-3107505960ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2023-07-3107505960ns10:Originalns5:PlantMachinery2023-07-3107505960ns10:Originalns5:FurnitureFittings2023-07-3107505960ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-07-3107505960ns10:Originalns5:PlantMachinery2022-07-3107505960ns10:Originalns5:FurnitureFittings2022-07-3107505960ns10:Originalns5:MotorVehicles2022-07-3107505960ns10:Originalns5:ComputerEquipment2022-07-3107505960ns10:Original2022-07-3107505960ns10:Originalns5:MotorVehicles2023-07-3107505960ns10:Originalns5:ComputerEquipment2023-07-3107505960ns10:Originalns5:MotorVehicles2022-07-3107505960ns10:Originalns5:ComputerEquipment2022-07-3107505960ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3107505960ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-31
REGISTERED NUMBER: 07505960 (England and Wales)















NASON FOSTER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






NASON FOSTER LIMITED (REGISTERED NUMBER: 07505960)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


NASON FOSTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr P I Burke
Mr T R Dubberley
Mr R R D Wheeler





SECRETARY: Miss V A Beckett





REGISTERED OFFICE: Nason House
Moor Lane
Witton
Birmingham
West Midlands
B6 7HH





REGISTERED NUMBER: 07505960 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NASON FOSTER LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nason Foster Limited for the year ended 31 July 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Nason Foster Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nason Foster Limited and state those matters that we have agreed to state to the Board of Directors of Nason Foster Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nason Foster Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nason Foster Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nason Foster Limited. You consider that Nason Foster Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nason Foster Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


20 February 2024

NASON FOSTER LIMITED (REGISTERED NUMBER: 07505960)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,284 23,712

CURRENT ASSETS
Stocks 98,864 9,110
Debtors 5 87,330 213,701
Cash at bank 159,391 60,436
345,585 283,247
CREDITORS
Amounts falling due within one year 6 229,958 179,414
NET CURRENT ASSETS 115,627 103,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,911

127,545

PROVISIONS FOR LIABILITIES 3,500 4,200
NET ASSETS 127,411 123,345

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 127,311 123,245
127,411 123,345

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

NASON FOSTER LIMITED (REGISTERED NUMBER: 07505960)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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 20 February 2024 and were signed on its behalf by:





Mr T R Dubberley - Director


NASON FOSTER LIMITED (REGISTERED NUMBER: 07505960)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Nason Foster 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 sales of goods/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.
Short leasehold - Over the life of the lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Exhibition stand - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

NASON FOSTER LIMITED (REGISTERED NUMBER: 07505960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 August 2022 1,750 19,684 3,442
Disposals - - -
At 31 July 2023 1,750 19,684 3,442
DEPRECIATION
At 1 August 2022 155 10,999 3,442
Charge for year 348 1,303 -
Eliminated on disposal - - -
At 31 July 2023 503 12,302 3,442
NET BOOK VALUE
At 31 July 2023 1,247 7,382 -
At 31 July 2022 1,595 8,685 -

NASON FOSTER LIMITED (REGISTERED NUMBER: 07505960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Exhibition
vehicles stand Totals
£    £    £   
COST
At 1 August 2022 25,750 18,711 69,337
Disposals (25,750 ) - (25,750 )
At 31 July 2023 - 18,711 43,587
DEPRECIATION
At 1 August 2022 20,148 10,881 45,625
Charge for year - 1,175 2,826
Eliminated on disposal (20,148 ) - (20,148 )
At 31 July 2023 - 12,056 28,303
NET BOOK VALUE
At 31 July 2023 - 6,655 15,284
At 31 July 2022 5,602 7,830 23,712

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 73,493 64,988
Other debtors 13,837 148,713
87,330 213,701

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 80,992 86,079
Amounts owed to group undertakings 62,720 62,720
Taxation and social security 67,734 10,596
Other creditors 18,512 20,019
229,958 179,414

NASON FOSTER LIMITED (REGISTERED NUMBER: 07505960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


7. RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Sale of goods Equipment hire
2023 2022 2023 2022
£ £ £ £

Esprit UK Limited 351,505 532,970 - -
Nason Foster Holdings
Limited

-


-


25,100


25,100
351,505 532,970 25,100 25,100

Rent
2023 2022
£ £

Esprit Executive Pension
Scheme

60,000


60,000

60,000 60,000

Both Esprit UK Limited and Esprit Midland Limited are companies in which all three directors are also directors of, as well as having an interest in the share capital.

The directors of Nason Foster Limited are also trustees of the Esprit Executive Pension Scheme.

The following amounts were outstanding at the reporting date:
Amounts owed to related parties
2023 2022
£ £

Nason Foster Holdings Limited 62,720 62,720

62,720 62,720

Amounts owed by related parties
2023 2022
£ £

Esprit UK Limited - 128,000

- 128,000

NASON FOSTER LIMITED (REGISTERED NUMBER: 07505960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

The company has given an intercompany cross guarantee in respect of the bank borrowings of Esprit Group UK Limited, Esprit UK Limited, Esprit Midland Limited, Esprit Services Limited and Nason Foster Holdings Limited, all of which amounted to £nil (2022: £nil) at the balance sheet date.

8. ULTIMATE CONTROLLING PARTY

The parent undertaking and ultimate holding company is Nason Foster Holdings Limited.