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REGISTERED NUMBER: SC371799 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Nonge Limited

Nonge Limited (Registered number: SC371799)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nonge Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: W J H Walters



REGISTERED OFFICE: 61a Queen Street
Edinburgh
United Kingdom
EH2 4NA



REGISTERED NUMBER: SC371799 (Scotland)



ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG



BANKERS: Handelsbanken
18 Charlotte Square
Edinburgh
EH2 4DF

Nonge Limited (Registered number: SC371799)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,848 887
Investments 5 12,500 33,727
Investment property 6 330,000 224,862
345,348 259,476

CURRENT ASSETS
Debtors 7 18,230 72,001
Cash at bank 8,126 77,976
26,356 149,977
CREDITORS
Amounts falling due within one year 8 18,280 15,778
NET CURRENT ASSETS 8,076 134,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

353,424

393,675

CREDITORS
Amounts falling due after more than one year 9 (354,560 ) (354,560 )

PROVISIONS FOR LIABILITIES 11 (26,769 ) (6,444 )
NET (LIABILITIES)/ASSETS (27,905 ) 32,671

CAPITAL AND RESERVES
Called up share capital 12 2 2
Fair value reserve 13 28,150 28,150
Retained earnings 13 (56,057 ) 4,519
SHAREHOLDERS' FUNDS (27,905 ) 32,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Nonge Limited (Registered number: SC371799)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 30 October 2024 and were signed by:





W J H Walters - Director


Nonge Limited (Registered number: SC371799)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Nonge Limited is a private company, limited by shares , registered in Scotland. 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 the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the directors.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings-20% on cost
Computer equipment-25% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investment property
Investment properties, for which fair value can be measured reliably without undue cost or effort on an ongoing basis, are measured at fair value annually with any change recognised in the profit and loss account.

In accordance with Financial Reporting Standard 102 no depreciation is provided in respect of freehold properties held as investment properties where fair value can be measured reliably without undue cost or effort. This is a departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated. Such properties are held for investment and not for consumption, and the directors consider that to depreciate them would not give a true and fair view.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.


Nonge Limited (Registered number: SC371799)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Nonge Limited (Registered number: SC371799)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 12,425 8,556 20,981
Additions 1,409 1,748 3,157
Disposals - (3,923 ) (3,923 )
At 31 January 2024 13,834 6,381 20,215
DEPRECIATION
At 1 February 2023 11,570 8,524 20,094
Charge for year 726 470 1,196
Eliminated on disposal - (3,923 ) (3,923 )
At 31 January 2024 12,296 5,071 17,367
NET BOOK VALUE
At 31 January 2024 1,538 1,310 2,848
At 31 January 2023 855 32 887

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023 33,727
Disposals (21,227 )
At 31 January 2024 12,500
NET BOOK VALUE
At 31 January 2024 12,500
At 31 January 2023 33,727

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 224,862
Revaluations 105,138
At 31 January 2024 330,000
NET BOOK VALUE
At 31 January 2024 330,000
At 31 January 2023 224,862

The director has confirmed that the carrying value of the investment property as at 31st January 2024 is fairly valued at £330,000 (2023: £224,862).

Nonge Limited (Registered number: SC371799)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 4,600 -
Other debtors 13,630 4,501
18,230 4,501

Amounts falling due after more than one year:
Other debtors - 67,500

Aggregate amounts 18,230 72,001

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 4,600 -
Taxation and social security 1,501 83
Other creditors 12,179 15,695
18,280 15,778

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 154,560 154,560
Other creditors 200,000 200,000
354,560 354,560

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 154,560 154,560

Aldermore Bank PLC holds a fixed and floating charge over assets of the company.

11. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 26,769 6,444

Deferred
tax
£   
Balance at 1 February 2023 6,444
Provided during year 20,325
Balance at 31 January 2024 26,769

Nonge Limited (Registered number: SC371799)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
20 Ordinary £0.10 2 2

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2023 4,519 28,150 32,669
Deficit for the year (60,576 ) - (60,576 )
At 31 January 2024 (56,057 ) 28,150 (27,907 )

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
W J H Walters
Balance outstanding at start of year - -
Amounts advanced 13,630 31,862
Amounts repaid - (31,862 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,630 -

Nonge Limited (Registered number: SC371799)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

15. RELATED PARTY DISCLOSURES

Transactions with related parties during the year and balances outstanding at the year end were as follows:






Type of
transaction



Amount 31.1.24



Amount 31.1.23
Balance receivable
from/(payable to)
related party as at
31.1.24
Balance receivable
from/(payable to)
related party as at
31.1.23
£ £ £ £


Shareholder Loan - - (10,826) (14,026)

Family Member Loan - - (200,000) (200,000)
Interest 12,000 12,000 - -

The Flat Company
Limited

Sales

9,609

18,449

-

-

Professional
Services

-

3,600

-

-


Haus Werk Limited
Professional
Services

10,000

10,000

-

-
Dividend - 1,600

The Flat Company
(Lilla) Limited

Loan

-

2,500

-

-

Singing Sphere Loan 15,000 48,000 - 67,500


The director of Nonge Limited is also a director of The Flat Company Limited, The Flat Company (Lilla) Limited and Haus Werk Limited. A family member of the director of Nonge is also a director of Singing Sphere.

16. ULTIMATE CONTROLLING PARTY

The controlling party is W J H Walters.