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Reports Dated : 27/02/2024 Registered Number: 06701710
England and Wales

 

 

 

NUTRICOL LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Nutricol Ltd for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nutricol Ltd for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Nutricol Ltd , as a body, in accordance with the terms of our engagement letter dated 27 February 2024. Our work has been undertaken solely to prepare for your approval the accounts of Nutricol Ltd and state those matters that we have agreed to state to the Board of Directors of Nutricol Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nutricol Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Nutricol Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nutricol Ltd . You consider that Nutricol Ltd 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 Nutricol Ltd . 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
31 December 2023



....................................................
Wood and Disney Ltd
Lodge Park, Lodge Lane
Langham, Colchester
Essex
CO4 5NE
27 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 7,064    6,301 
7,064    6,301 
Current assets      
Stocks 1,578,948    2,148,739 
Debtors 974,610    1,705,301 
Cash at bank and in hand 1,235,938    242,316 
3,789,496    4,096,356 
Creditors: amount falling due within one year (2,892,208)   (3,251,505)
Net current assets 897,288    844,851 
 
Total assets less current liabilities 904,352    851,152 
Net assets 904,352    851,152 
 

Capital and reserves
     
Called up share capital 5 1,100    1,100 
Profit and loss account 903,252    850,052 
Shareholder's funds 904,352    851,152 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 February 2024 and were signed on its behalf by:


-------------------------------
Mr P J Andress
Director
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General Information
Nutricol Ltd 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 is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Brand
Brands are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over the estimated useful life of 10 years.
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% Reducing Balance
Computer Equipment 33% Reducing Balance
Improvements to property 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.

Average number of employees


Average number of employees during the year was 6 (2022 : 5).
3.

Intangible fixed assets

Cost Brand   Total
  £   £
At 01 January 2023 2,500    2,500 
Additions  
Disposals  
At 31 December 2023 2,500    2,500 
Amortisation
At 01 January 2023 2,500    2,500 
Charge for year  
On disposals  
At 31 December 2023 2,500    2,500 
Net book values
At 31 December 2023  
At 31 December 2022  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £
At 01 January 2023 10,472    12,357    7,585    30,414 
Additions 836    924    995    2,755 
Disposals      
At 31 December 2023 11,308    13,281    8,580    33,169 
Depreciation
At 01 January 2023 9,555    9,040    5,518    24,113 
Charge for year 385    1,272    335    1,992 
On disposals      
At 31 December 2023 9,940    10,312    5,853    26,105 
Net book values
Closing balance as at 31 December 2023 1,368    2,969    2,727    7,064 
Opening balance as at 01 January 2023 917    3,317    2,067    6,301 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
100 Ordinary B shares of £1.00 each 100    100 
1,100    1,100 

3