Nola Renewables Limited 14774927 false 2023-04-03 2024-04-30 2024-04-30 The principal activity of the company is Services for Renewable Energy Digita Accounts Production Advanced 6.30.9574.0 true true 14774927 2023-04-03 2024-04-30 14774927 2024-04-30 14774927 bus:OrdinaryShareClass1 2024-04-30 14774927 core:RetainedEarningsAccumulatedLosses 2024-04-30 14774927 core:ShareCapital 2024-04-30 14774927 core:CurrentFinancialInstruments 2024-04-30 14774927 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14774927 core:OfficeEquipment 2024-04-30 14774927 core:OtherPropertyPlantEquipment 2024-04-30 14774927 bus:SmallEntities 2023-04-03 2024-04-30 14774927 bus:AuditExemptWithAccountantsReport 2023-04-03 2024-04-30 14774927 bus:FilletedAccounts 2023-04-03 2024-04-30 14774927 bus:SmallCompaniesRegimeForAccounts 2023-04-03 2024-04-30 14774927 bus:RegisteredOffice 2023-04-03 2024-04-30 14774927 bus:Director1 2023-04-03 2024-04-30 14774927 bus:Director2 2023-04-03 2024-04-30 14774927 bus:OrdinaryShareClass1 2023-04-03 2024-04-30 14774927 bus:PrivateLimitedCompanyLtd 2023-04-03 2024-04-30 14774927 core:OfficeEquipment 2023-04-03 2024-04-30 14774927 core:OtherPropertyPlantEquipment 2023-04-03 2024-04-30 14774927 core:PlantMachinery 2023-04-03 2024-04-30 14774927 countries:EnglandWales 2023-04-03 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14774927

Nola Renewables Limited

Unaudited Filleted Financial Statements

for the Period from 3 April 2023 to 30 April 2024

 

Nola Renewables Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Nola Renewables Limited

Company Information

Directors

Miss Karen Robertson

Mr Mark Thomson

Registered office

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Accountants

Ian Walker & Co
Box Tree House
Northminster Business Park
Upper Poppleton
York
YO26 6QR

 

Nola Renewables Limited

(Registration number: 14774927)
Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

6,519

Current assets

 

Stocks

5

7,235

Debtors

6

408,236

Cash at bank and in hand

 

176,025

 

591,496

Creditors: Amounts falling due within one year

7

(252,134)

Net current assets

 

339,362

Net assets

 

345,881

Capital and reserves

 

Called up share capital

8

2

Retained earnings

345,879

Shareholders' funds

 

345,881

For the financial period ending 30 April 2024 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 period 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.

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

 

Nola Renewables Limited

(Registration number: 14774927)
Balance Sheet as at 30 April 2024

.........................................
Miss Karen Robertson
Director

 

Nola Renewables Limited

Notes to the Unaudited Financial Statements for the Period from 3 April 2023 to 30 April 2024

1

General information

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

The address of its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

These financial statements were authorised for issue by the Board on 23 October 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 financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Nola Renewables Limited

Notes to the Unaudited Financial Statements for the Period from 3 April 2023 to 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Plant & Machinery

25% Reducing Balance

Office Equipment

25% Reducing Balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Nola Renewables Limited

Notes to the Unaudited Financial Statements for the Period from 3 April 2023 to 30 April 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Nola Renewables Limited

Notes to the Unaudited Financial Statements for the Period from 3 April 2023 to 30 April 2024

4

Tangible assets

Office equipment
£

Other tangible assets
 £

Total
£

Cost or valuation

Additions

1,943

5,000

6,943

At 30 April 2024

1,943

5,000

6,943

Depreciation

Charge for the period

216

208

424

At 30 April 2024

216

208

424

Carrying amount

At 30 April 2024

1,727

4,792

6,519

5

Stocks

2024
£

Work in progress

7,235

6

Debtors

Current

2024
£

Trade debtors

64,608

Prepayments

1,031

Other debtors

342,597

 

408,236

7

Creditors

Creditors: amounts falling due within one year

 

Nola Renewables Limited

Notes to the Unaudited Financial Statements for the Period from 3 April 2023 to 30 April 2024

2024
£

Due within one year

Trade creditors

117,901

Taxation and social security

114,040

Other creditors

20,193

252,134

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Share Capital - Ordinary of £1 each

2

2

   

9

Related party transactions

 

Nola Renewables Limited

Notes to the Unaudited Financial Statements for the Period from 3 April 2023 to 30 April 2024

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

Contributions paid to money purchase schemes

40,000