Registered number
07449986
NU Mottingham Limited
Unaudited Filleted Accounts
For the Year Ended
30 November 2023
NU Mottingham Limited
Registered number: 07449986
Statement of Financial Position
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 13,820 20,729
Tangible assets 4 99,264 56,036
113,084 76,765
Current assets
Stocks 45,620 43,645
Debtors 5 254,356 288,106
Cash at bank and in hand 40,193 35,556
340,169 367,307
Creditors: amounts falling due within one year 6 (85,469) (62,016)
Net current assets 254,700 305,291
Total assets less current liabilities 367,784 382,056
Creditors: amounts falling due after more than one year 7 (26,464) (36,270)
Net assets 341,320 345,786
Capital and reserves
Called up share capital 100 100
Profit and loss account 341,220 345,686
Shareholders' funds 341,320 345,786
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. N. U. Patel
Director
Approved by the board on 28 August 2024
NU Mottingham Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Accounting convention
These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 10% reducing balance
Motor vehicles 10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 103,637
At 30 November 2023 103,637
Amortisation
At 1 December 2022 82,908
Provided during the year 6,909
At 30 November 2023 89,817
Net book value
At 30 November 2023 13,820
At 30 November 2022 20,729
4 Tangible fixed assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 December 2022 119,201 6,640 125,841
Additions 54,257 - 54,257
At 30 November 2023 173,458 6,640 180,098
Depreciation
At 1 December 2022 68,005 1,800 69,805
Charge for the year 10,545 484 11,029
At 30 November 2023 78,550 2,284 80,834
Net book value
At 30 November 2023 94,908 4,356 99,264
At 30 November 2022 51,196 4,840 56,036
5 Debtors 2023 2022
£ £
Other debtors 254,356 288,106
6 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 85,469 62,016
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 26,464 36,270
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