Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr N J Warren 03/03/2008 05 August 2024 The principle activity of the company during the financial year was design consultancy. 06521377 2024-03-31 06521377 bus:Director1 2024-03-31 06521377 2023-03-31 06521377 core:CurrentFinancialInstruments 2024-03-31 06521377 core:CurrentFinancialInstruments 2023-03-31 06521377 core:Non-currentFinancialInstruments 2024-03-31 06521377 core:Non-currentFinancialInstruments 2023-03-31 06521377 core:ShareCapital 2024-03-31 06521377 core:ShareCapital 2023-03-31 06521377 core:RetainedEarningsAccumulatedLosses 2024-03-31 06521377 core:RetainedEarningsAccumulatedLosses 2023-03-31 06521377 core:Goodwill 2023-03-31 06521377 core:Goodwill 2024-03-31 06521377 core:LandBuildings 2023-03-31 06521377 core:OfficeEquipment 2023-03-31 06521377 core:LandBuildings 2024-03-31 06521377 core:OfficeEquipment 2024-03-31 06521377 bus:OrdinaryShareClass1 2024-03-31 06521377 bus:OrdinaryShareClass2 2024-03-31 06521377 2023-04-01 2024-03-31 06521377 bus:FilletedAccounts 2023-04-01 2024-03-31 06521377 bus:SmallEntities 2023-04-01 2024-03-31 06521377 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06521377 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06521377 bus:Director1 2023-04-01 2024-03-31 06521377 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 06521377 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 06521377 core:OfficeEquipment 2023-04-01 2024-03-31 06521377 2022-04-01 2023-03-31 06521377 core:LandBuildings 2023-04-01 2024-03-31 06521377 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 06521377 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06521377 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06521377 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 06521377 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06521377 (England and Wales)

N9 DESIGN LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

N9 DESIGN LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

N9 DESIGN LIMITED

BALANCE SHEET

As at 31 March 2024
N9 DESIGN LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 4,648 5,334
4,648 5,334
Current assets
Debtors 5 10,384 12,315
Cash at bank and in hand 39,468 35,364
49,852 47,679
Creditors: amounts falling due within one year 6 ( 32,331) ( 22,560)
Net current assets 17,521 25,119
Total assets less current liabilities 22,169 30,453
Creditors: amounts falling due after more than one year 7 ( 7,245) ( 15,728)
Provision for liabilities ( 1,162) ( 832)
Net assets 13,762 13,893
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 13,662 13,793
Total shareholders' funds 13,762 13,893

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of N9 Design Limited (registered number: 06521377) were approved and authorised for issue by the Director on 05 August 2024. They were signed on its behalf by:

Mr N J Warren
Director
N9 DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
N9 DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

N9 Design Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Lower Barn, Hounster Hill, Millbrook, Cornwall, PL10 1AJ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 67,245 67,245
At 31 March 2024 67,245 67,245
Accumulated amortisation
At 01 April 2023 67,245 67,245
At 31 March 2024 67,245 67,245
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 April 2023 8,752 18,600 27,352
Additions 0 726 726
At 31 March 2024 8,752 19,326 28,078
Accumulated depreciation
At 01 April 2023 8,752 13,266 22,018
Charge for the financial year 0 1,412 1,412
At 31 March 2024 8,752 14,678 23,430
Net book value
At 31 March 2024 0 4,648 4,648
At 31 March 2023 0 5,334 5,334

5. Debtors

2024 2023
£ £
Trade debtors 8,802 9,434
Prepayments 402 431
Other debtors 1,180 2,450
10,384 12,315

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 7,140 6,975
Trade creditors 837 0
Corporation tax 12,487 5,783
Other taxation and social security 6,747 7,234
Other creditors 5,120 2,568
32,331 22,560

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 7,245 14,363
Other creditors 0 1,365
7,245 15,728

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Ordinary A shares of £ 1.00 each 50 50
50 Ordinary B shares of £ 1.00 each 50 50
100 100