Nomad Design Ltd 04366765 false 2023-05-01 2024-03-31 2024-03-31 The principal activity of the company is theatrical stage design and construction. Digita Accounts Production Advanced 6.30.9574.0 true true 04366765 2023-05-01 2024-03-31 04366765 2024-03-31 04366765 2 2024-03-31 04366765 core:CurrentFinancialInstruments 2024-03-31 04366765 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04366765 core:Non-currentFinancialInstruments 2024-03-31 04366765 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04366765 core:Goodwill 2024-03-31 04366765 core:PlantMachinery 2024-03-31 04366765 bus:SmallEntities 2023-05-01 2024-03-31 04366765 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 04366765 bus:FilletedAccounts 2023-05-01 2024-03-31 04366765 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-03-31 04366765 bus:RegisteredOffice 2023-05-01 2024-03-31 04366765 bus:CompanySecretaryDirector1 2023-05-01 2024-03-31 04366765 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-03-31 04366765 core:Goodwill 2023-05-01 2024-03-31 04366765 core:PlantMachinery 2023-05-01 2024-03-31 04366765 countries:EnglandWales 2023-05-01 2024-03-31 04366765 2023-04-30 04366765 core:Goodwill 2023-04-30 04366765 core:PlantMachinery 2023-04-30 04366765 2022-05-01 2023-04-30 04366765 2023-04-30 04366765 2 2023-04-30 04366765 core:CurrentFinancialInstruments 2023-04-30 04366765 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 04366765 core:Non-currentFinancialInstruments 2023-04-30 04366765 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 04366765 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 04366765

Nomad Design Ltd

Unaudited Filleted Financial Statements

for the Period from 1 May 2023 to 31 March 2024

 

Nomad Design Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Nomad Design Ltd

(Registration number: 04366765)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

66

Current assets

 

Debtors

6

265

1,816

Cash at bank and in hand

 

-

395

 

265

2,211

Creditors: Amounts falling due within one year

7

(56,608)

(36,551)

Net current liabilities

 

(56,343)

(34,340)

Total assets less current liabilities

 

(56,343)

(34,274)

Creditors: Amounts falling due after more than one year

7

(5,757)

(6,733)

Net liabilities

 

(62,100)

(41,007)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(62,200)

(41,107)

Shareholders' deficit

 

(62,100)

(41,007)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 


Mr Mark Eades
Company secretary and director

 

Nomad Design Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 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:
Crossways
Exbourne
Okehampton
Devon
EX20 3SE

Principal activity

The principal activity of the company is theatrical stage design and construction.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Nomad Design Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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.

 

Nomad Design Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

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 statement of financial position 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

Plant and machinery

20% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

 

Nomad Design Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 statement of comprehensive income 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

Nomad Design Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

10,000

10,000

At 31 March 2024

10,000

10,000

Amortisation

At 1 May 2023

10,000

10,000

At 31 March 2024

10,000

10,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

3,103

3,103

At 31 March 2024

3,103

3,103

Depreciation

At 1 May 2023

3,037

3,037

Charge for the period

66

66

At 31 March 2024

3,103

3,103

Carrying amount

At 31 March 2024

-

-

At 30 April 2023

66

66

6

Debtors

Note

2024
£

2023
£

Other debtors

 

265

1,772

Income tax asset

-

44

 

265

1,816

 

Nomad Design Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,530

980

Trade creditors

 

38

43

Accruals and deferred income

 

895

2,491

Other creditors

 

54,145

33,037

 

56,608

36,551

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

5,757

6,733

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,757

6,733

Current loans and borrowings

2024
£

2023
£

Bank borrowings

980

980

Bank overdrafts

550

-

1,530

980