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Registration number: 02747412

Nunn Syndication Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

image-name
 

Nunn Syndication Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Nunn Syndication Limited

Company Information

Directors

R Nunn

A Nunn

Company secretary

R Nunn

Registered office

Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

Accountants

Viewpoint Accountants Ltd
Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

 

Nunn Syndication Limited

(Registration number: 02747412)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,699

4,932

Current assets

 

Debtors

6

1,564

1,597

Cash at bank and in hand

 

6,070

11,528

 

7,634

13,125

Creditors: Amounts falling due within one year

7

(123,730)

(114,489)

Net current liabilities

 

(116,096)

(101,364)

Net liabilities

 

(112,397)

(96,432)

Capital and reserves

 

Called up share capital

8

20,010

20,010

Retained earnings

(132,407)

(116,442)

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 16 September 2024 and signed on its behalf by:
 

.........................................
R Nunn
Company secretary and director

 

Nunn Syndication Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

The principal place of business is:
4 Thornfield Road
Bishop's Stortford
Herts
CM23 2RB

These financial statements were authorised for issue by the Board on 16 September 2024.

2

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

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the
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
Financial instruments are classified and accounted for, according to the substance of the contractual
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.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Nunn Syndication Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Photographic library
£

Total
£

Cost or valuation

At 1 January 2023

84,525

84,525

At 31 December 2023

84,525

84,525

Amortisation

At 1 January 2023

84,525

84,525

At 31 December 2023

84,525

84,525

Carrying amount

At 31 December 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

7,297

7,428

14,725

At 31 December 2023

7,297

7,428

14,725

Depreciation

At 1 January 2023

2,365

7,428

9,793

Charge for the year

1,233

-

1,233

At 31 December 2023

3,598

7,428

11,026

Carrying amount

At 31 December 2023

3,699

-

3,699

At 31 December 2022

4,932

-

4,932

 

Nunn Syndication Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

2023
£

2022
£

Trade debtors

370

837

Other debtors

447

72

Prepayments

747

688

1,564

1,597

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

-

288

Trade creditors

 

949

2,015

Accruals and deferred income

 

3,346

3,957

Other creditors

 

119,435

108,229

 

123,730

114,489


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.

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A Shares of £1 each

18,009

18,009

18,009

18,009

Ordinary B Shares of £1 each

2,001

2,001

2,001

2,001

20,010

20,010

20,010

20,010

 

Nunn Syndication Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

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)

 

(108,229)

(11,206)

(119,435)