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Filleted

Registration number: 09627791

The Nook Tenby Limited

trading as The Nook

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

The Nook Tenby Limited

trading as The Nook

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

The Nook Tenby Limited

trading as The Nook

Company Information

Director

Mr John David Mather

Registered office

Boro House
St Julian Street
Tenby
Pembrokeshire
SA70 7AS

 

The Nook Tenby Limited

trading as The Nook

(Registration number: 09627791)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4,076

4,319

Current assets

 

Stocks

6

52,000

40,000

Debtors

7

1,896

1,895

Cash at bank and in hand

 

64,643

67,308

 

118,539

109,203

Creditors: Amounts falling due within one year

8

(66,818)

(59,279)

Net current assets

 

51,721

49,924

Total assets less current liabilities

 

55,797

54,243

Creditors: Amounts falling due after more than one year

8

(8,500)

(14,500)

Provisions for liabilities

(1,577)

(803)

Net assets

 

45,720

38,940

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

45,718

38,938

Total equity

 

45,720

38,940

For the financial year ending 30 June 2024 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 year 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 and the option not to file the Profit and Loss Account has been taken.

 

The Nook Tenby Limited

trading as The Nook

(Registration number: 09627791)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 7 October 2024
 

.........................................
Mr John David Mather
Director

   
     
 

The Nook Tenby Limited

trading as The Nook

Notes to the Financial Statements for the Year Ended 30 June 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:
Boro House
St Julian Street
Tenby
Pembrokeshire
SA70 7AS

These financial statements were authorised for issue by the director on 7 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 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.

 

The Nook Tenby Limited

trading as The Nook

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

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

Fixtures and Fittings

15% and 33% 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.

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.

 

The Nook Tenby Limited

trading as The Nook

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 5).

4

Profit before tax

Arrived at after charging/(crediting)

 

The Nook Tenby Limited

trading as The Nook

Notes to the Financial Statements for the Year Ended 30 June 2024

2024
£

2023
£

Depreciation expense

802

886

 

The Nook Tenby Limited

trading as The Nook

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 July 2023

6,633

6,633

Additions

559

559

At 30 June 2024

7,192

7,192

Depreciation

At 1 July 2023

2,314

2,314

Charge for the year

802

802

At 30 June 2024

3,116

3,116

Carrying amount

At 30 June 2024

4,076

4,076

At 30 June 2023

4,319

4,319

6

Stocks

2024
£

2023
£

Other inventories

52,000

40,000

7

Debtors

2024
£

2023
£

Other debtors

1,896

1,895

1,896

1,895

8

Creditors

Creditors: amounts falling due within one year

 

The Nook Tenby Limited

trading as The Nook

Notes to the Financial Statements for the Year Ended 30 June 2024

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

6,000

6,000

Trade creditors

 

36,483

36,274

Taxation and social security

 

8,717

5,498

Other related parties

 

479

390

Corporation tax liability

 

4,260

-

Other creditors

 

10,879

11,117

 

66,818

59,279

Due after one year

 

Loans and borrowings

10

8,500

14,500

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

8,500

14,500

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

8,500

14,500

 

The Nook Tenby Limited

trading as The Nook

Notes to the Financial Statements for the Year Ended 30 June 2024

2024
£

2023
£

Current loans and borrowings

Bank borrowings

6,000

6,000

11

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mr John David Mather

Interest free and repayable on demand

390

(12,924)

13,014

479

         
       

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr John David Mather

Interest free and repayable on demand

10,770

-

12,401

390