Company Registration No. 10737407 (England and Wales)
Nuyard Group Limited
Unaudited accounts
for the year ended 30 April 2024
Nuyard Group Limited
Unaudited accounts
Contents
Nuyard Group Limited
Company Information
for the year ended 30 April 2024
Company Number
10737407 (England and Wales)
Registered Office
The Hollows Watling Terrace
Fenny Stratford
Milton Keynes
Buckinghamshire
MK2 2BT
Accountants
MJ Bookkeeping Services Limited
Unit 6 The Courtyard
Milton Road
Aylesbury
Buckinghamshire
HP21 7LZ
Nuyard Group Limited
Statement of financial position
as at 30 April 2024
Intangible assets
360,000
405,000
Tangible assets
3,107,966
3,072,517
Inventories
736,742
838,226
Cash at bank and in hand
510,784
562,738
Creditors: amounts falling due within one year
(1,729,414)
(1,835,689)
Net current liabilities
(180,270)
(146,193)
Total assets less current liabilities
3,287,696
3,331,324
Creditors: amounts falling due after more than one year
(2,417,150)
(2,583,975)
Provisions for liabilities
Deferred tax
(144,024)
(128,685)
Net assets
726,522
618,664
Called up share capital
1,000
1,000
Profit and loss account
725,522
617,664
Shareholders' funds
726,522
618,664
For the year ending 30 April 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 21 January 2025 and were signed on its behalf by
Mr P Manship
Director
Company Registration No. 10737407
Nuyard Group Limited
Notes to the Accounts
for the year ended 30 April 2024
Nuyard Group Limited is a private company, limited by shares, registered in England and Wales, registration number 10737407. The registered office is The Hollows Watling Terrace, Fenny Stratford, Milton Keynes, Buckinghamshire, MK2 2BT.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Intangible fixed assets (including purchased goodwill) are included at cost less accumulated amortisation.
Goodwill is amortised over its useful life of 10 years.
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:
Land & buildings
Buildings depreciated over 50 years
Plant & machinery
20% Straight line
Motor vehicles
20% Straight line
Fixtures & fittings
20% reducing balance
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.
Nuyard Group Limited
Notes to the Accounts
for the year ended 30 April 2024
Stocks have been valued 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Current liabilities exceed current assets at the balance sheet date. The director, however, considers that the company has sufficient liquid assets to meet its liabilities as and when they fall due, and that the company has sufficient support from its creditors. The director has pledged to continue his support to the company for a foreseeable future. The director, therefore, considers that it is appropriate to prepare the accounts on a going concern basis.
4
Intangible fixed assets
Goodwill
Charge for the year
45,000
Nuyard Group Limited
Notes to the Accounts
for the year ended 30 April 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2023
2,581,209
392,820
286,133
61,622
3,321,784
Additions
-
169,000
39,931
41,701
250,632
At 30 April 2024
2,581,209
561,820
326,063
103,323
3,572,415
At 1 May 2023
23,431
102,110
95,384
28,342
249,267
Charge for the year
25,908
109,065
65,210
14,999
215,182
At 30 April 2024
49,339
211,175
160,594
43,341
464,449
At 30 April 2024
2,531,870
350,645
165,469
59,982
3,107,966
At 30 April 2023
2,557,778
290,710
190,749
33,280
3,072,517
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
133,522
185,709
Amounts falling due within one year
Trade debtors
256,395
249,983
Accrued income and prepayments
40,223
38,549
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
109,349
107,067
Obligations under finance leases and hire purchase contracts
57,476
64,423
Trade creditors
1,450,433
1,112,097
Taxes and social security
27,858
30,800
Other creditors
3,576
394,037
Loans from directors
7,463
52,914
Nuyard Group Limited
Notes to the Accounts
for the year ended 30 April 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,964,714
2,074,064
Obligations under finance leases and hire purchase contracts
52,436
109,911
Loans from directors
400,000
400,000
Aggregate of amounts that fall due for payment after five years
1,484,430
1,613,844
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Average number of employees
During the year the average number of employees was 56 (2023: 33).