2 2 Nomad Research Design Consultation Ltd. SC301079 false 2023-04-30 2024-04-29 2024-04-29 The principal activity of the company is specialised design activities. Digita Accounts Production Advanced 6.30.9574.0 true SC301079 2023-04-30 2024-04-29 SC301079 2024-04-29 SC301079 core:RetainedEarningsAccumulatedLosses 2024-04-29 SC301079 core:ShareCapital 2024-04-29 SC301079 core:CurrentFinancialInstruments 2024-04-29 SC301079 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-29 SC301079 core:Non-currentFinancialInstruments 2024-04-29 SC301079 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-29 SC301079 core:FurnitureFittings 2024-04-29 SC301079 core:OfficeEquipment 2024-04-29 SC301079 bus:SmallEntities 2023-04-30 2024-04-29 SC301079 bus:AuditExemptWithAccountantsReport 2023-04-30 2024-04-29 SC301079 bus:FilletedAccounts 2023-04-30 2024-04-29 SC301079 bus:SmallCompaniesRegimeForAccounts 2023-04-30 2024-04-29 SC301079 bus:RegisteredOffice 2023-04-30 2024-04-29 SC301079 bus:CompanySecretaryDirector1 2023-04-30 2024-04-29 SC301079 bus:Director2 2023-04-30 2024-04-29 SC301079 bus:PrivateLimitedCompanyLtd 2023-04-30 2024-04-29 SC301079 bus:Agent1 2023-04-30 2024-04-29 SC301079 core:ComputerEquipment 2023-04-30 2024-04-29 SC301079 core:FurnitureFittings 2023-04-30 2024-04-29 SC301079 core:OfficeEquipment 2023-04-30 2024-04-29 SC301079 countries:Scotland 2023-04-30 2024-04-29 SC301079 2023-04-29 SC301079 core:FurnitureFittings 2023-04-29 SC301079 core:OfficeEquipment 2023-04-29 SC301079 2022-04-30 2023-04-29 SC301079 2023-04-29 SC301079 core:RetainedEarningsAccumulatedLosses 2023-04-29 SC301079 core:ShareCapital 2023-04-29 SC301079 core:CurrentFinancialInstruments 2023-04-29 SC301079 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-29 SC301079 core:Non-currentFinancialInstruments 2023-04-29 SC301079 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-29 SC301079 core:FurnitureFittings 2023-04-29 SC301079 core:OfficeEquipment 2023-04-29 xbrli:pure iso4217:GBP

Registration number: SC301079

Nomad Research Design Consultation Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 29 April 2024

 

Nomad Research Design Consultation Ltd.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

Accountants' Report

9

 

Nomad Research Design Consultation Ltd.

Company Information

Directors

Mr Scott Mason

Ms Valerie Clugston

Company secretary

Mr Scott Mason

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
Stirlingshire
FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Nomad Research Design Consultation Ltd.

(Registration number: SC301079)
Balance Sheet as at 29 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,675

3,573

Current assets

 

Stocks

5

-

11,076

Debtors

6

-

2,297

Cash at bank and in hand

 

24,309

69,037

 

24,309

82,410

Creditors: Amounts falling due within one year

7

(11,544)

(53,449)

Net current assets

 

12,765

28,961

Total assets less current liabilities

 

14,440

32,534

Creditors: Amounts falling due after more than one year

7

(7,353)

(11,264)

Provisions for liabilities

(318)

-

Net assets

 

6,769

21,270

Capital and reserves

 

Called up share capital

2

2

Retained earnings

6,767

21,268

Shareholders' funds

 

6,769

21,270

For the financial year ending 29 April 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 and 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 January 2025 and signed on its behalf by:
 

 

Nomad Research Design Consultation Ltd.

(Registration number: SC301079)
Balance Sheet as at 29 April 2024

.........................................
Mr Scott Mason
Company secretary and director

 

Nomad Research Design Consultation Ltd.

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

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.

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.

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.

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.

 

Nomad Research Design Consultation Ltd.

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

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.

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

Fixtures and fittings

33% on cost

Computer equipment

33% on cost

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Nomad Research Design Consultation Ltd.

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

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

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

4

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 30 April 2023

526

11,494

12,020

At 29 April 2024

526

11,494

12,020

Depreciation

At 30 April 2023

309

8,138

8,447

Charge for the year

175

1,723

1,898

At 29 April 2024

484

9,861

10,345

Carrying amount

At 29 April 2024

42

1,633

1,675

At 29 April 2023

217

3,356

3,573

5

Stocks

2024
£

2023
£

Work in progress

-

11,076

6

Debtors

Current

2024
£

2023
£

Other debtors

-

2,297

 

-

2,297

 

Nomad Research Design Consultation Ltd.

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

4,259

4,259

Taxation and social security

 

4,204

32,486

Other creditors

 

3,081

16,704

 

11,544

53,449

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

7,353

11,264

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,353

11,264

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,259

4,259

 

Nomad Research Design Consultation Ltd.

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

9

Related party transactions

2024
 £

2023
 £

Mr Scott Mason

469

3,961

Ms Valerie Clugston

466

74

 

935

4,035

The maximum balance outstanding during the year amounted to £4,035.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Nomad Research Design Consultation Ltd.
for the Year Ended 29 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nomad Research Design Consultation Ltd. for the year ended 29 April 2024 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Nomad Research Design Consultation Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Nomad Research Design Consultation Ltd. and state those matters that we have agreed to state to the Board of Directors of Nomad Research Design Consultation Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nomad Research Design Consultation Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Nomad Research Design Consultation 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 Nomad Research Design Consultation Ltd.. You consider that Nomad Research Design Consultation 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 Nomad Research Design Consultation 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.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

28 January 2025