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Registered Number: 13894970
England and Wales

 

 

 

NEVER GET LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Director Adnan Sheikh Mahmood
Registered Number 13894970
Registered Office Unit 4
Kingsbury Trading Estate
Kingsbury
England
NW9 8AU
Accountants 3E'S Accountants Limited
231 Kenton Road
Harrow
Middlesex
England
HA3 0HD
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 17,556    18,889 
Tangible fixed assets 4 124,517    165,080 
142,073    183,969 
Current assets      
Debtors 5 125,910    26,000 
Cash at bank and in hand 140,005    154,780 
265,915    180,780 
Creditors: amount falling due within one year 6 (89,219)   (76,528)
Net current assets 176,696    104,252 
 
Total assets less current liabilities 318,769    288,221 
Creditors: amount falling due after more than one year 7 (153,492)   (168,594)
Provisions for liabilities 8 (31,130)   (31,365)
Net assets 134,147    88,262 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 134,047    88,162 
Shareholders' funds 134,147    88,262 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 30 November 2024 and were signed by:


-------------------------------
Adnan Sheikh Mahmood
Director
2
General Information
Never Get Limited is a private company, limited by shares, registered in England and Wales, registration number 13894970, registration address Unit 4, Kingsbury Trading Estate, Kingsbury, England, NW9 8AU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Franchise Fees
Franchise Fees is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Franchise Fees of 15 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.33% Straight Line
Fixtures and Fittings 25% Reducing Balance
Provisions
Provisions are recognized when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 80 (2023 : 30).
3.

Intangible fixed assets

Cost Start up Fee   Total
  £   £
At 01 March 2023 20,000    20,000 
Additions  
Disposals  
At 29 February 2024 20,000    20,000 
Amortisation
At 01 March 2023 1,111    1,111 
Charge for year 1,333    1,333 
On disposals  
At 29 February 2024 2,444    2,444 
Net book values
At 29 February 2024 17,556    17,556 
At 28 February 2023 18,889    18,889 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2023 210,313    1,007    211,320 
Additions 445    615    1,060 
Disposals    
At 29 February 2024 210,758    1,622    212,380 
Depreciation
At 01 March 2023 46,072    168    46,240 
Charge for year 41,116    507    41,623 
On disposals    
At 29 February 2024 87,188    675    87,863 
Net book values
Closing balance as at 29 February 2024 123,570    947    124,517 
Opening balance as at 01 March 2023 164,241    839    165,080 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors - Deposit 26,000    26,000 
26,000    26,000 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Loan - SAF Trading Store 16,600   
Directors Loan Accounts 83,310   
99,910   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 389    890 
Corporation Tax 12,615   
PAYE & Social Security 11,579    7,971 
Wages & Salaries Control Account 13,077    5,782 
Pension payable 84   
Directors' Current Accounts   53 
VAT 51,475    61,832 
89,219    76,528 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
NatWest Loan - 80616372 22,834    28,046 
NatWest Business Loan - 80583024 49,480    63,263 
Rosarya Limited - Intercompany loan 81,178    77,285 
153,492    168,594 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 31,130    31,365 
31,130    31,365 

3