Company registration number 12032634 (England and Wales)
NANNY LOUENNA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
NANNY LOUENNA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
NANNY LOUENNA LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
224,308
178,392
Tangible assets
4
4,281
2,077
228,589
180,469
Current assets
Debtors
5
35,263
24,877
Cash at bank and in hand
15,934
27,883
51,197
52,760
Creditors: amounts falling due within one year
6
(112,500)
(67,388)
Net current liabilities
(61,303)
(14,628)
Total assets less current liabilities
167,286
165,841
Creditors: amounts falling due after more than one year
7
(31,022)
(36,585)
Net assets
136,264
129,256
Capital and reserves
Called up share capital
8
1,481
1,350
Share premium account
461,799
409,430
Profit and loss reserves
(327,016)
(281,524)
Total equity
136,264
129,256

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

NANNY LOUENNA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
L Hood
Director
Company Registration No. 12032634
NANNY LOUENNA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Nanny Louenna Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cambridge House, 16 High Street, Saffron Walden, Essex, CB10 1AX.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts derived from provision of services which fall within the company's principal activity, stated net of value added tax. Turnover from rendering of services is recognised when services are rendered, no matter when cash is received.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
10% straight line
Other intangible assets
10% straight line

Intangible assets are still at their development stage and have therefore not been amortised in this accounting period.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% straight line
Computer equipment
33% straight line

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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

NANNY LOUENNA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax income represents research and development credits received during the year for qualifying expenditure.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NANNY LOUENNA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average number of employees (including directors) employed by the company during the year was :

2024
2023
Number
Number
Total
3
3
3
Intangible fixed assets
Development costs
Other intangible assets
Total
£
£
£
Cost
At 1 April 2023
231,194
-
0
231,194
Additions
4,784
65,000
69,784
At 31 March 2024
235,978
65,000
300,978
Amortisation and impairment
At 1 April 2023
52,802
-
0
52,802
Amortisation charged for the year
23,493
375
23,868
At 31 March 2024
76,295
375
76,670
Carrying amount
At 31 March 2024
159,683
64,625
224,308
At 31 March 2023
178,392
-
0
178,392
NANNY LOUENNA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
3,408
Additions
4,323
At 31 March 2024
7,731
Depreciation and impairment
At 1 April 2023
1,331
Depreciation charged in the year
2,119
At 31 March 2024
3,450
Carrying amount
At 31 March 2024
4,281
At 31 March 2023
2,077
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
24,051
21,167
Other debtors
11,212
3,710
35,263
24,877
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,556
5,550
Trade creditors
1,595
1,802
Corporation tax
17,594
-
0
Other taxation and social security
11,236
5,884
Other creditors
19,394
14,188
Accruals and deferred income
57,125
39,964
112,500
67,388
NANNY LOUENNA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
31,022
36,585

The bank loan is 100% backed by the UK government and is therefore not secured. The loan carries interest at 2.5% p.a.

 

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.125p each
1,184,679
1,079,890
1,481
1,350

During the year, 105,000 Ordinary shares of 0.00125p each were issued on 20 March 2024 for a premium of £0.49875 per share.

9
Related party transactions

During the year the company was charged £1,453 (2023: £4,231) by Beavis Morgan LLP and £17,890 (2023: £15,500) by BM Connect Limited for professional and accountancy fees. During the year, the company was also charged by Beavis Morgan LLP for services relating to the acquisition of the intangible asset amounting to £20,000, which was settled by the issuance of shares after the year-end. The company owed BM Connect Limited an amount of £1,320 (2023: £1,800) at the balance sheet date which is included within trade creditors. P L Drown, who resigned on 27 August 2024, is also a designated member of Beavis Morgan LLP and a director of BM Connect Limited.

10
Directors' transactions

Included within other creditors is an amount owed to director of £3,821 (2023: £11,179). The loan is interest free and repayable on demand.

11
Events after the reporting date

40,000 and 30,000 Ordinary shares of 0.00125p each were issued for a consideration of £0.50 per share on 5 April 2024 and 23 April 2024, respectively.

 

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