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Company Registration No. 12436714 (England and Wales)
NH35 WATCHES LIMITED Unaudited accounts for the year ended 29 February 2024
NH35 WATCHES LIMITED Unaudited accounts Contents
Page
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NH35 WATCHES LIMITED Company Information for the year ended 29 February 2024
Director
Christopher McJennett
Company Number
12436714 (England and Wales)
Registered Office
The Gate Business Centre Keppoch Street Cardiff CF24 3JW
Accountants
Evans Entwistle Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of NH35 WATCHES LIMITED for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NH35 WATCHES LIMITED for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH 28 November 2024
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NH35 WATCHES LIMITED Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
365 
764 
Current assets
Inventories
- 
3,000 
Debtors
5,115 
7,476 
Cash at bank and in hand
2,937 
4,146 
8,052 
14,622 
Creditors: amounts falling due within one year
(17,023)
(19,196)
Net current liabilities
(8,971)
(4,574)
Total assets less current liabilities
(8,606)
(3,810)
Creditors: amounts falling due after more than one year
(10,459)
(13,981)
Provisions for liabilities
Deferred tax
(69)
(145)
Net liabilities
(19,134)
(17,936)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(19,135)
(17,937)
Shareholders' funds
(19,134)
(17,936)
For the year ending 29 February 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Christopher McJennett Director Company Registration No. 12436714
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NH35 WATCHES LIMITED Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
NH35 WATCHES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12436714. The registered office is The Gate Business Centre, Keppoch Street, Cardiff, CF24 3JW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 years straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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NH35 WATCHES LIMITED Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 March 2023
1,196 
At 29 February 2024
1,196 
Depreciation
At 1 March 2023
432 
Charge for the year
399 
At 29 February 2024
831 
Net book value
At 29 February 2024
365 
At 28 February 2023
764 
5
Inventories
2024 
2023 
£ 
£ 
Finished goods
- 
3,000 
- 
3,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
5,115 
7,476 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,821 
13,908 
VAT
10,104 
4,196 
Accruals
1,098 
1,092 
17,023 
19,196 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,459 
13,981 
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NH35 WATCHES LIMITED Notes to the Accounts for the year ended 29 February 2024
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
69 
145 
2024 
2023 
£ 
£ 
Provision at start of year
145 
221 
Credited to the profit and loss account
(76)
(76)
Provision at end of year
69 
145 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
general loan outstanding
7,476 
3,661 
6,022 
5,115 
7,476 
3,661 
6,022 
5,115 
The balance represents an interest free loan that is repayable to the company upon demand.
12
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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