Registration number:
Nunn Syndication Limited
for the Year Ended 31 December 2023
Nunn Syndication Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Nunn Syndication Limited
Company Information
Directors |
R Nunn A Nunn |
Company secretary |
R Nunn |
Registered office |
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Accountants |
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Nunn Syndication Limited
(Registration number: 02747412)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
20,010 |
20,010 |
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Retained earnings |
(132,407) |
(116,442) |
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Shareholders' deficit |
(112,397) |
(96,432) |
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Nunn Syndication Limited
(Registration number: 02747412)
Balance Sheet as at 31 December 2023
Approved and authorised by the
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Nunn Syndication Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
The principal place of business is:
4 Thornfield Road
Bishop's Stortford
Herts
CM23 2RB
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The directors understand that trading conditions are difficult in their market sector and continue to mitigate losses by careful control of costs. The business is reliant upon the financial support of the directors and since there are no other significant creditors to the business the directors are satisifed that the company should continue to trade and are hopeful of an improvement in the near future.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and
services to customers.
Nunn Syndication Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Foreign currency transactions and balances
transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the
closing rates at the balance sheet date. All exchange differences are included in the profit and loss
account.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Photographic Equipment |
33.33% Straightline |
Fixtures, fittings and equipment |
20 - 50% Straightline |
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a
straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full
financial year following the acquisition and in other periods if events or changes in circumstances
indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is calculated to write off the cost in equal annual instalments over their useful life of 20
years
Asset class |
Amortisation method and rate |
Photographic Library |
20 years straight line |
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Nunn Syndication Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Nunn Syndication Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Financial instruments
Classification
arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its
liabilities. Where shares are issued, any component that creates a financial liability of the company is
presented as a liability in the balance sheet. The corresponding dividends relating to the liability
component are charged as interest expense in the profit and loss account.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Nunn Syndication Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Intangible assets |
Photographic library |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Amortisation |
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At 1 January 2023 |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
- |
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Tangible assets |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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- |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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- |
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At 31 December 2022 |
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- |
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Nunn Syndication Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
- |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Creditors include directors' loans of £106,600 (2022 - £98,223) which are secured by a fixed and floating charge over all property and assets present and future.
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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18,009 |
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18,009 |
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2,001 |
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2,001 |
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Nunn Syndication Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Transactions with directors |
2023 |
At 1 January 2023 |
Repayments by director |
At 31 December 2023 |
Directors' Loan |
( |
( |
( |
(108,229) |
(11,206) |
(119,435) |
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