Company registration number 07787183 (England and Wales)
NOVEMBER MARCH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
NOVEMBER MARCH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
NOVEMBER MARCH LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,185
5,581
Investments
5
8,084
7,390
12,269
12,971
Current assets
Debtors
6
63,849
57,849
Cash at bank and in hand
44,976
13,409
108,825
71,258
Creditors: amounts falling due within one year
7
(47,398)
(18,837)
Net current assets
61,427
52,421
Total assets less current liabilities
73,696
65,392
Creditors: amounts falling due after more than one year
8
(10,000)
(10,000)
Provisions for liabilities
(1,046)
(1,324)
Net assets
62,650
54,068
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
62,550
53,968
Total equity
62,650
54,068
NOVEMBER MARCH LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 30 October 2024
Mrs Denese Molyneux
Director
Company registration number 07787183 (England and Wales)
NOVEMBER MARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
November March Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fortfield Chambers, Station Road, Sidmouth, Devon, EX10 8NY.
1.1
Accounting convention
These financial statements 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the investments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Straight line over the life of the lease
Fixtures, fittings & equipment
20% per annum on cost
Computer equipment
25% per annum on reducing basis
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.
1.4
Fixed asset investments
Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
1.5
Equity instruments
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
NOVEMBER MARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
10,000
Amortisation and impairment
At 1 April 2023 and 31 March 2024
10,000
Carrying amount
At 31 March 2024
At 31 March 2023
NOVEMBER MARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
19,838
23,185
43,023
Depreciation and impairment
At 1 April 2023
19,838
17,604
37,442
Depreciation charged in the year
1,396
1,396
At 31 March 2024
19,838
19,000
38,838
Carrying amount
At 31 March 2024
4,185
4,185
At 31 March 2023
5,581
5,581
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
8,084
7,390
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
7,390
Additions
11
Valuation changes
750
Disposals
(67)
At 31 March 2024
8,084
Carrying amount
At 31 March 2024
8,084
At 31 March 2023
7,390
NOVEMBER MARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,300
12,000
Other debtors
50,549
45,849
63,849
57,849
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
24,241
15,212
Other creditors
23,157
3,625
47,398
18,837
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
10,000
10,000
9
Called up share capital
2024
2023
£
£
Ordinary share capital
91 Ordinary 'A' shares of £1 each
91
91
5 Ordinary 'B' shares of £1 each
5
5
2 Ordinary 'C' shares of £1 each
2
2
2 Ordinary 'D' shares of £1 each
2
2
100
100
NOVEMBER MARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Within one year
Between two and five years
22,917
32,917
In over five years
22,917
32,917
11
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
One director
2.25
45,178
56,936
1,151
(54,300)
48,965
45,178
56,936
1,151
(54,300)
48,965
The aforementioned advances are unsecured and repayable upon demand.