Company registration number:
12357565
Nowsign Limited
Unaudited filleted financial statements
30 November 2023
Nowsign Limited
Contents
Statement of financial position
Notes to the financial statements
Nowsign Limited
Statement of financial position
30 November 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
391 |
|
|
|
391 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
391 |
|
|
|
391 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
119,483) |
|
|
|
(
119,656) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
119,092) |
|
|
|
(
119,265) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
119,092) |
|
|
|
(
119,265) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
119,092) |
|
|
|
(
119,265) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1 |
|
|
|
1 |
Profit and loss account |
|
|
|
|
(
119,093) |
|
|
|
(
119,266) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
119,092) |
|
|
|
(
119,265) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
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.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 August 2024
, and are signed on behalf of the board by:
Claire Marie Niebel
Director
Company registration number:
12357565
Nowsign Limited
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. The address of the registered office is Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022:
2
).
5.
Tax on profit
Adjustments in respect of previous periods
-
-
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Amounts owed by related company |
|
390 |
390 |
|
Other debtors |
|
1 |
1 |
|
|
|
_______ |
_______ |
|
|
|
391 |
391 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Amounts owed to related company |
|
117,683 |
117,856 |
|
Accruals |
|
1,800 |
1,800 |
|
|
|
_______ |
_______ |
|
|
|
119,483 |
119,656 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Going concern
As reflected within these financial statements, the company has made a profit for the year of £173 (2022 : £2,513) and has a net deficiency of assets of £119,092 as at 30 November 2023. (2022 : £119,265) The company meets its day to day working capital requirements through support from TGG Ltd a related party company. The financial statements have been prepared on a going concern basis, the validity of which depends upon the company's ability to continue to receive the financial support from TGG Ltd. The financial statements do not include any adjustments that would result from a failure to obtain such support.