Company Registration No. 09076616 (England and Wales)
NUTMEG AND HIVE LIMITED
Unaudited accounts
for the year ended 31 December 2022
NUTMEG AND HIVE LIMITED
Unaudited accounts
Contents
NUTMEG AND HIVE LIMITED
Company Information
for the year ended 31 December 2022
Directors
Steven Hegarty
Janett Lozano Villaseca
Michel Massoud
Florian Wojewodzki
Company Number
09076616 (England and Wales)
Registered Office
71-75 SHELTON STREET
COVENT GARDEN
LONDON
WC2H 9JQ
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
NUTMEG AND HIVE LIMITED
Accountants' report
Accountants' report to the board of directors of NUTMEG AND HIVE LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
NUTMEG AND HIVE LIMITED for the year ended
31 December 2022 as set out on pages
5 -
9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of NUTMEG AND HIVE LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of NUTMEG AND HIVE LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NUTMEG AND HIVE LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NUTMEG AND HIVE LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of NUTMEG AND HIVE LIMITED. You consider that NUTMEG AND HIVE 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 accounts of NUTMEG AND HIVE 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 accounts.
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
19 December 2023
NUTMEG AND HIVE LIMITED
Statement of financial position
as at 31 December 2022
Intangible assets
1,015
1,128
Tangible assets
247,396
304,897
Inventories
215,489
149,352
Cash at bank and in hand
70,287
79,587
Creditors: amounts falling due within one year
(1,096,988)
(683,724)
Net current assets
250,400
520,195
Total assets less current liabilities
498,811
826,220
Creditors: amounts falling due after more than one year
(393,061)
(594,739)
Provisions for liabilities
Other provisions
(284,024)
(158,943)
Net (liabilities)/assets
(178,274)
72,538
Called up share capital
2,158,602
2,135,352
Profit and loss account
(2,336,876)
(2,062,814)
Shareholders' funds
(178,274)
72,538
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2023 and were signed on its behalf by
Steven Hegarty
Director
Company Registration No. 09076616
NUTMEG AND HIVE LIMITED
Notes to the Accounts
for the year ended 31 December 2022
NUTMEG AND HIVE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09076616. The registered office is 71-75 SHELTON STREET, COVENT GARDEN, LONDON, WC2H 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
33% Straight Line
Intangible fixed assets are included at cost less accumulated amortisation.
Intangible assets are amortised over 10 years on a straight-line basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
NUTMEG AND HIVE LIMITED
Notes to the Accounts
for the year ended 31 December 2022
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The company intends to be profit making in the near future. In the meantime the company has secured funding for working capital purposes.
4
Intangible fixed assets
Other
Intangible assets are amortised over 10 years on a straight-line basis
NUTMEG AND HIVE LIMITED
Notes to the Accounts
for the year ended 31 December 2022
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2022
13,376
555,888
19,600
27,289
616,153
Additions
-
2,359
-
631
2,990
Disposals
-
(31,373)
-
-
(31,373)
At 31 December 2022
13,376
526,874
19,600
27,920
587,770
At 1 January 2022
4,501
270,103
12,365
24,287
311,256
Charge for the year
1,338
24,716
1,809
1,255
29,118
At 31 December 2022
5,839
294,819
14,174
25,542
340,374
At 31 December 2022
7,537
232,055
5,426
2,378
247,396
At 31 December 2021
8,875
285,785
7,235
3,002
304,897
Amounts falling due within one year
Trade debtors
323,477
268,115
Deferred tax asset
509,585
503,523
Accrued income and prepayments
-
1,949
Other debtors
67,211
54,449
Amounts falling due after more than one year
Amounts due from group undertakings etc.
161,339
146,944
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
305,303
99,266
Obligations under finance leases and hire purchase contracts
49,170
23,121
Trade creditors
269,046
198,424
Taxes and social security
36,095
107,836
Other creditors
325,813
249,077
8
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
199,667
324,000
Obligations under finance leases and hire purchase contracts
102,422
179,767
Amounts owed to group undertakings and other participating interests
90,972
90,972
NUTMEG AND HIVE LIMITED
Notes to the Accounts
for the year ended 31 December 2022
9
Average number of employees
During the year the average number of employees was 11 (2021: 13).