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REGISTERED NUMBER: 09119081 (England and Wales)

















Financial Statements for the Year Ended 31 October 2023

for

Now Dutton Limited

Now Dutton Limited (Registered number: 09119081)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Now Dutton Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr K D Heppenstall
Mr J F Emmerson
Mr J L Scott



REGISTERED OFFICE: 28 Bailey Street
Sheffield
South Yorkshire
S1 4EH



REGISTERED NUMBER: 09119081 (England and Wales)



SENIOR STATUTORY AUDITOR: Jonathon Dickens FCA



AUDITORS: Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

Now Dutton Limited (Registered number: 09119081)

Balance Sheet
31 October 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 666,638 774,746
Tangible assets 5 33,730 37,973
700,368 812,719

CURRENT ASSETS
Debtors 6 2,246,899 2,250,550
Cash at bank and in hand 37,889 62,041
2,284,788 2,312,591
CREDITORS
Amounts falling due within one year 7 2,713,137 2,905,705
NET CURRENT LIABILITIES (428,349 ) (593,114 )
TOTAL ASSETS LESS CURRENT LIABILITIES 272,019 219,605

PROVISIONS FOR LIABILITIES 10,544 9,798
NET ASSETS 261,475 209,807

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 261,375 209,707
SHAREHOLDERS' FUNDS 261,475 209,807

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 26 July 2024 and were signed on its behalf by:





Mr K D Heppenstall - Director


Now Dutton Limited (Registered number: 09119081)

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

1. STATUTORY INFORMATION

Now Dutton 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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.

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 - 33% on reducing balance
Computer equipment - 25% on reducing balance

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.


Now Dutton Limited (Registered number: 09119081)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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.

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 12 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 November 2022
and 31 October 2023 1,142,256
AMORTISATION
At 1 November 2022 367,510
Charge for year 108,108
At 31 October 2023 475,618
NET BOOK VALUE
At 31 October 2023 666,638
At 31 October 2022 774,746

Now Dutton Limited (Registered number: 09119081)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 November 2022 62,412
Additions 7,046
At 31 October 2023 69,458
DEPRECIATION
At 1 November 2022 24,439
Charge for year 11,289
At 31 October 2023 35,728
NET BOOK VALUE
At 31 October 2023 33,730
At 31 October 2022 37,973

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 2,210,988 2,207,134
Amounts owed by group undertakings 9,372 -
Other debtors 26,539 43,416
2,246,899 2,250,550

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 38,264 38,989
Amounts owed to group undertakings 938,295 809,999
Taxation and social security 121,089 103,991
Other creditors 1,615,489 1,952,726
2,713,137 2,905,705

Included within other creditors is an amount £1,051,232 (2022: £1,454,818) relating to invoice discounting advances, these advances are secured by way of first fixed and floating charges over the present and future assets of the company.

Now Dutton Limited (Registered number: 09119081)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 25,909 15,692
Between one and five years 21,295 32,692
47,204 48,384

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathon Dickens FCA (Senior Statutory Auditor)
for and on behalf of Sutton McGrath Hartley

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M J Davison.

At 31 October 2023 the company's parent company was Portland Investment Group Limited, a company which is incorporated in the Uk. The ultimate parent company is Portland Investment Group Holdings Limited. The consolidated accounts of this company are available to the public and may be obtained from Companies House, Cardiff.