Nowmost Company Limited 02894628 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is in the trade of leisure activities Digita Accounts Production Advanced 6.30.9574.0 true true 02894628 2023-03-01 2024-02-29 02894628 2024-02-29 02894628 bus:OrdinaryShareClass1 2024-02-29 02894628 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 02894628 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 02894628 core:FurnitureFittings 2024-02-29 02894628 core:PlantMachinery 2024-02-29 02894628 bus:SmallEntities 2023-03-01 2024-02-29 02894628 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 02894628 bus:FilletedAccounts 2023-03-01 2024-02-29 02894628 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 02894628 bus:RegisteredOffice 2023-03-01 2024-02-29 02894628 bus:Director1 2023-03-01 2024-02-29 02894628 bus:Director2 2023-03-01 2024-02-29 02894628 bus:Director3 2023-03-01 2024-02-29 02894628 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 02894628 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02894628 core:FurnitureFittings 2023-03-01 2024-02-29 02894628 core:PlantMachinery 2023-03-01 2024-02-29 02894628 countries:AllCountries 2023-03-01 2024-02-29 02894628 2023-02-28 02894628 core:FurnitureFittings 2023-02-28 02894628 core:PlantMachinery 2023-02-28 02894628 2022-03-01 2023-02-28 02894628 2023-02-28 02894628 bus:OrdinaryShareClass1 2023-02-28 02894628 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 02894628 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 02894628 core:FurnitureFittings 2023-02-28 02894628 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02894628

Nowmost Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Nowmost Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Nowmost Company Limited

Company Information

Directors

Mrs S Llewelyn

Mrs JD Stevens

Mr MC Stevens

Registered office

Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

Accountants

King Morter Proud & Co Limited
Chartered Accountants
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

 

Nowmost Company Limited

(Registration number: 02894628)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,959

9,278

Current assets

 

Stocks

5

1,250

1,250

Cash at bank and in hand

 

451

643

 

1,701

1,893

Creditors: Amounts falling due within one year

6

(9,117)

(1,480)

Net current (liabilities)/assets

 

(7,416)

413

Total assets less current liabilities

 

(457)

9,691

Creditors: Amounts falling due after more than one year

6

(12,903)

(15,070)

Net liabilities

 

(13,360)

(5,379)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(13,460)

(5,479)

Shareholders' deficit

 

(13,360)

(5,379)

For the financial 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.

Directors' 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 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 Profit and Loss Account.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................
Mrs JD Stevens
Director

 

Nowmost Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

These financial statements were authorised for issue by the Board on 28 November 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.

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.

 

Nowmost Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

Amusement Machines

at 20% per annum on cost

Fixtures and fittings

at 10% per annum on cost

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.

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.

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.

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.

 

Nowmost Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

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

 

Nowmost Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

31,008

40,884

71,892

At 29 February 2024

31,008

40,884

71,892

Depreciation

At 1 March 2023

21,730

40,884

62,614

Charge for the year

2,319

-

2,319

At 29 February 2024

24,049

40,884

64,933

Carrying amount

At 29 February 2024

6,959

-

6,959

At 28 February 2023

9,278

-

9,278

5

Stocks

2024
£

2023
£

Other inventories

1,250

1,250

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8,067

-

Trade creditors

 

1,050

1,480

 

9,117

1,480

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

12,903

15,070

7

Share capital

Allotted, called up and fully paid shares

 

Nowmost Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100