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Company Registration No. 11059172 (England and Wales)
NOTIONAL TECHNOLOGY LTD Unaudited accounts for the year ended 30 November 2023
NOTIONAL TECHNOLOGY LTD Unaudited accounts Contents
Page
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NOTIONAL TECHNOLOGY LTD Company Information for the year ended 30 November 2023
Directors
Teresa O'Sullivan Martin Pitt
Company Number
11059172 (England and Wales)
Registered Office
Suite 99 Milton Keynes Business Centre Linford Wood, Milton Keynes Buckinghamshire MK14 6GD ENGLAND
Accountants
Arth Limited 655 Milton Keynes Business Centre Foxhunter Drive Milton Keynes Buckinghamshire MK14 6GD
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of NOTIONAL TECHNOLOGY LTD for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NOTIONAL TECHNOLOGY LTD for the year ended 30 November 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of NOTIONAL TECHNOLOGY LTD, as a body, in accordance with the terms of our engagement letter dated 29 June 2022. Our work has been undertaken solely to prepare for your approval the accounts of NOTIONAL TECHNOLOGY LTD and state those matters that we have agreed to state to the Board of Directors of NOTIONAL TECHNOLOGY LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NOTIONAL TECHNOLOGY LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NOTIONAL TECHNOLOGY LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of NOTIONAL TECHNOLOGY LTD. You consider that NOTIONAL TECHNOLOGY LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of NOTIONAL TECHNOLOGY LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Arth Limited Chartered Accountants 655 Milton Keynes Business Centre Foxhunter Drive Milton Keynes Buckinghamshire MK14 6GD 22 August 2024
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NOTIONAL TECHNOLOGY LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,471 
4,412 
Current assets
Debtors
216,878 
163,785 
Cash at bank and in hand
530,030 
823,503 
746,908 
987,288 
Creditors: amounts falling due within one year
223,253 
61,745 
Net current assets
970,161 
1,049,033 
Net assets
972,632 
1,053,445 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
972,622 
1,053,435 
Shareholders' funds
972,632 
1,053,445 
For the year ending 30 November 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by
Martin Pitt Director Company Registration No. 11059172
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NOTIONAL TECHNOLOGY LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
NOTIONAL TECHNOLOGY LTD is a private company, limited by shares, registered in England and Wales, registration number 11059172. The registered office is Suite 99 Milton Keynes Business Centre, Linford Wood, Milton Keynes, Buckinghamshire, MK14 6GD, ENGLAND.
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.
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
Straight line @ 25%
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 December 2022
10,754 
At 30 November 2023
10,754 
Depreciation
At 1 December 2022
6,342 
Charge for the year
1,941 
At 30 November 2023
8,283 
Net book value
At 30 November 2023
2,471 
At 30 November 2022
4,412 
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NOTIONAL TECHNOLOGY LTD Notes to the Accounts for the year ended 30 November 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,884 
5,976 
Trade debtors
74,612 
3,600 
Accrued income and prepayments
- 
94,950 
Other debtors
137,382 
59,259 
216,878 
163,785 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
4,043 
- 
Taxes and social security
84,903 
57,801 
Loans from directors
(345,857)
(212,371)
Accruals
1,575 
1,575 
Deferred income
32,083 
91,250 
(223,253)
(61,745)
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Teresa O'Sullivan
10,000 
- 
- 
10,000 
Martin Pitt
202,371 
240,393 
8,917 
433,847 
212,371 
240,393 
8,917 
443,847 
During the year and at the end of year, an amount of £436,826 has been advanced to the director of the company, this has been repaid within 9 months after the year end
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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