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COMPANY REGISTRATION NUMBER: 08287192
NIGHTGOLD LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2023
NIGHTGOLD LTD
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
1,109
1,575
CURRENT ASSETS
Stocks
88,000
134,800
Debtors
5
13,012
22,900
Cash at bank and in hand
8,133
1,854
---------
---------
109,145
159,554
CREDITORS: amounts falling due within one year
6
( 153,473)
( 151,434)
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 44,328)
8,120
--------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 43,219)
9,695
CREDITORS: amounts falling due after more than one year
7
( 30,479)
( 36,034)
PROVISIONS
Taxation including deferred tax
( 211)
( 299)
--------
--------
NET LIABILITIES
( 73,909)
( 26,638)
--------
--------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
( 73,910)
( 26,639)
--------
--------
SHAREHOLDERS DEFICIT
( 73,909)
( 26,638)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NIGHTGOLD LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Sally Arundel
Director
Company registration number: 08287192
NIGHTGOLD LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, West Yorkshire, LS1 4DJ.
2. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have also been prepared on the going concern basis.The director considers the going concern basis to be appropriate as she has confirmed her ongoing support.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Computer Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
3. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 11 (2022: 13 ).
4. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 December 2022 and 30 November 2023
3,910
400
972
5,282
-------
----
----
-------
Depreciation
At 1 December 2022
3,005
378
324
3,707
Charge for the year
136
6
324
466
-------
----
----
-------
At 30 November 2023
3,141
384
648
4,173
-------
----
----
-------
Carrying amount
At 30 November 2023
769
16
324
1,109
-------
----
----
-------
At 30 November 2022
905
22
648
1,575
-------
----
----
-------
5. DEBTORS
2023
2022
£
£
Trade debtors
1,665
Other debtors
11,347
22,900
--------
--------
13,012
22,900
--------
--------
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,557
5,556
Trade creditors
48,552
76,977
Social security and other taxes
22,728
21,899
Other creditors
66,589
40,586
Other creditors
10,047
6,416
---------
---------
153,473
151,434
---------
---------
7. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
30,479
36,034
--------
--------