Acorah Software Products - Accounts Production 14.6.300 false true true false 11 September 2024 4 July 2023 31 December 2023 31 December 2023 14979840 Mr Jimmy Weiborn Glimakra of Sweden AB Kilingevagen 13, Glimakra, 280 64 true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14979840 2023-07-03 14979840 2023-12-31 14979840 2023-07-04 2023-12-31 14979840 frs-core:CurrentFinancialInstruments 2023-12-31 14979840 frs-core:BetweenOneFiveYears 2023-12-31 14979840 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 14979840 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-04 2023-12-31 14979840 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-03 14979840 frs-core:WithinOneYear 2023-12-31 14979840 frs-core:ShareCapital 2023-12-31 14979840 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14979840 frs-bus:PrivateLimitedCompanyLtd 2023-07-04 2023-12-31 14979840 frs-bus:FilletedAccounts 2023-07-04 2023-12-31 14979840 frs-bus:SmallEntities 2023-07-04 2023-12-31 14979840 frs-bus:Audited 2023-07-04 2023-12-31 14979840 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-04 2023-12-31 14979840 1 2023-07-04 2023-12-31 14979840 frs-bus:Director1 2023-07-04 2023-12-31 14979840 frs-countries:EnglandWales 2023-07-04 2023-12-31
Registered number: 14979840
Nordic Design House Limited
Financial Statements
For the Period 4 July 2023 to 31 December 2023
Goodwille Limited
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 14979840
31 December 2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 48,509
48,509
CURRENT ASSETS
Debtors 5 40,017
Cash at bank and in hand 3,402
43,419
Creditors: Amounts Falling Due Within One Year 6 (93,597 )
NET CURRENT ASSETS (LIABILITIES) (50,178 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,669 )
NET LIABILITIES (1,669 )
CAPITAL AND RESERVES
Called up share capital 7 50,100
Profit and Loss Account (51,769 )
SHAREHOLDERS' FUNDS (1,669)
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jimmy Weiborn
Director
11/09/2024
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Nordic Design House Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14979840 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
Though the Company is operating at a loss, the Directors have a reasonable expectation that the Company will continue to have access to adequate resources to continue in operational existence for the foreseeable future. The Directors have considered a letter of support from its immediate parent company stating that they will support the Company should it not be in a position to meet any repayment obligations. Thus, the Directors continue to adopt the going concern basis in preparing the annual financial statements.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5 year straight line
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Page 2
Page 3
2.9. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
2.10. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.11. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
2.13. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.14. Disclosure of long or short period
The company was incorporated on 4 July 2023. The company’s yearend date is 31 December 2023. These financial statements are therefore for the short period from 4 July 2023 to 31 December 2023. There are no comparatives as this is the first period of account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Tangible Assets
Land & Property
Leasehold
£
Cost
As at 4 July 2023 -
Additions 48,509
As at 31 December 2023 48,509
Net Book Value
As at 31 December 2023 48,509
As at 4 July 2023 -
Page 3
Page 4
5. Debtors
31 December 2023
£
Due within one year
Prepayments and accrued income 346
Other debtors 31,719
VAT 7,952
40,017
6. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Trade creditors 535
Other taxes and social security 2,275
Other creditors 1,856
Accruals and deferred income 13,756
Amounts owed to group undertakings 75,175
93,597
7. Share Capital
31 December 2023
£
Allotted, Called up and fully paid 50,100
8. Capital Commitments
31 December 2023
£
At the end of the period 26,839
At 31 December 2023 Nordic Design House Limited was committed to capital spending of £53,678. Deposits totalling £26,839 have been paid towards this capital commitment. These deposits are included as assets in Leasehold Improvements. The net capital commitment at 31 December 2023 is £26,839.’
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2023
£
Not later than one year 60,800
Later than one year and not later than five years 174,800
235,600
Page 4
Page 5
10. Dividends
No dividends were proposed or paid during the period. 
11. Related Party Transactions
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.
12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Glimakra of Sweden AB , incorporated in Sweden. Copies of the group accounts may be obtained from the secretary, Kilingevagen 13, Glimakra, 280 64 . The ultimate controlling party is Glimakra of Sweden AB who controls 100% of the shares of Nordic Design House Limited .
13. Audit Information
The auditors report on the account of Nordic Design House Limited for the period ended 31 December 2023 was unqualified
The auditor's report was signed by Caroline Peverett BA FCA (Senior Statutory Auditor) for and on behalf of Tuerner Audit Limited , Statutory Auditor
Tuerner Audit Limited
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG
Page 5