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REGISTERED NUMBER: 12350958 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

NU VENTURE (WIGAN) LTD

NU VENTURE (WIGAN) LTD (REGISTERED NUMBER: 12350958)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NU VENTURE (WIGAN) LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Ms D J Hulton
Mr G Hulton





Registered office: Unit 2
Seven Stars Road
Off Wallgate
Wigan
Lancashire
WN3 5AT





Registered number: 12350958 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

NU VENTURE (WIGAN) LTD (REGISTERED NUMBER: 12350958)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,639 -

CURRENT ASSETS
Stocks 65,000 67,000
Debtors 5 468 11,528
Cash at bank 127 2,990
65,595 81,518
CREDITORS
Amounts falling due within one year 6 150,968 90,802
NET CURRENT LIABILITIES (85,373 ) (9,284 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(65,734

)

(9,284

)

CREDITORS
Amounts falling due after more than one
year

7

16,667

26,707
NET LIABILITIES (82,401 ) (35,991 )

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings (82,403 ) (35,993 )
SHAREHOLDERS' FUNDS (82,401 ) (35,991 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Ms D J Hulton - Director


NU VENTURE (WIGAN) LTD (REGISTERED NUMBER: 12350958)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Nu Venture (Wigan) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 5 ) .

NU VENTURE (WIGAN) LTD (REGISTERED NUMBER: 12350958)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 20,948
At 31 December 2023 20,948
DEPRECIATION
Charge for year 1,309
At 31 December 2023 1,309
NET BOOK VALUE
At 31 December 2023 19,639

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 8,609
Other debtors 468 2,919
468 11,528

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors - 6,254
Taxation and social security 46,472 28,162
Other creditors 94,496 46,386
150,968 90,802

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 16,667 26,707

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary £1.00 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Ms D J Hulton
Balance outstanding at start of year 2,451 16,041
Amounts advanced 7,184 16,556
Amounts repaid (52,201 ) (30,146 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (42,566 ) 2,451