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Registration number: 13482866

N-Hood Ltd

trading as Neighbourhood Ltd

Unaudited Filleted Financial Statements

for the Period from 1 July 2023 to 31 December 2023

 

N-Hood Ltd

trading as Neighbourhood Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

N-Hood Ltd

trading as Neighbourhood Ltd

Company Information

Director

Mr John Edward Hobson

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

N-Hood Ltd

trading as Neighbourhood Ltd

(Registration number: 13482866)
Balance Sheet as at 31 December 2023

Note

2023
£

2023
£

Fixed assets

 

Tangible assets

3

1,247

1,386

Current assets

 

Debtors

4

79,133

21,074

Cash at bank and in hand

 

8,553

6,319

 

87,686

27,393

Creditors: Amounts falling due within one year

5

(63,926)

(25,772)

Net current assets

 

23,760

1,621

Total assets less current liabilities

 

25,007

3,007

Creditors: Amounts falling due after more than one year

5

(10,057)

(13,066)

Provisions for liabilities

(237)

-

Net assets/(liabilities)

 

14,713

(10,059)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

14,712

(10,060)

Shareholders' funds/(deficit)

 

14,713

(10,059)

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 November 2024
 

 

N-Hood Ltd

trading as Neighbourhood Ltd

(Registration number: 13482866)
Balance Sheet as at 31 December 2023

.........................................
Mr John Edward Hobson
Director

 

N-Hood Ltd

trading as Neighbourhood Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

1

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.

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 and deferred 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

 

N-Hood Ltd

trading as Neighbourhood Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

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

20% Reducing Balance

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leasing and hire purchase contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.

 

N-Hood Ltd

trading as Neighbourhood Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

1,999

1,999

At 31 December 2023

1,999

1,999

Depreciation

At 1 July 2023

613

613

Charge for the period

139

139

At 31 December 2023

752

752

Carrying amount

At 31 December 2023

1,247

1,247

At 30 June 2023

1,386

1,386

 

N-Hood Ltd

trading as Neighbourhood Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

4

Debtors

Current

2023
£

2023
£

Trade debtors

77,760

18,000

Prepayments

551

932

Other debtors

822

2,142

 

79,133

21,074

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2023
£

Due within one year

 

Bank loans and overdrafts

5,486

5,486

Trade creditors

 

5,758

1,240

Taxation and social security

 

11,449

1,101

Accruals and deferred income

 

10,563

66

Other creditors

 

30,004

17,080

HP and finance lease liabilities

 

666

799

 

63,926

25,772

Creditors: amounts falling due after more than one year

Note

2023
£

2023
£

Due after one year

 

Loans and borrowings

10,057

13,066

6

Share capital

Allotted, called up and fully paid shares

2023

2023

No.

£

No.

£

Ordinary £1 Shares of £1 each

1

1

1

1

       
 

N-Hood Ltd

trading as Neighbourhood Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

7

Related party transactions

Transactions with the director

2023

At 1 July 2023
£

Other payments made to company by director
£

At 31 December 2023
£

Mr John Edward Hobson

No interest is charged on the loan and there is no fixed date of repayment.

17,080

3,106

20,187