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REGISTERED NUMBER: 04422370 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2024

FOR

NOTION LIMITED

NOTION LIMITED (REGISTERED NUMBER: 04422370)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NOTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2024







DIRECTORS: D B Ashley-Timms
L R Ashley-Timms





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 04422370 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

NOTION LIMITED (REGISTERED NUMBER: 04422370)

BALANCE SHEET
30 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 280,207 -
Tangible assets 5 11,684 11,671
291,891 11,671

CURRENT ASSETS
Stocks 289,793 207,000
Debtors 6 506,078 500,941
Cash at bank 66,814 190,705
862,685 898,646
CREDITORS
Amounts falling due within one year 7 304,210 323,515
NET CURRENT ASSETS 558,475 575,131
TOTAL ASSETS LESS CURRENT
LIABILITIES

850,366

586,802

CREDITORS
Amounts falling due after more than one
year

8

684,354

420,874
NET ASSETS 166,012 165,928

CAPITAL AND RESERVES
Called up and paid share capital 2 2
Retained earnings 166,010 165,926
SHAREHOLDERS' FUNDS 166,012 165,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NOTION LIMITED (REGISTERED NUMBER: 04422370)

BALANCE SHEET - continued
30 MARCH 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





D B Ashley-Timms - Director


NOTION LIMITED (REGISTERED NUMBER: 04422370)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024


1. STATUTORY INFORMATION

Notion Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover relates to the provision of services in line with the company's principal activity. Turnover is recognised as the service has been provided.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on cost

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.


NOTION LIMITED (REGISTERED NUMBER: 04422370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 14 ) .

NOTION LIMITED (REGISTERED NUMBER: 04422370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 280,207
At 30 March 2024 280,207
NET BOOK VALUE
At 30 March 2024 280,207

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 March 2023 241,372
Additions 7,644
At 30 March 2024 249,016
DEPRECIATION
At 31 March 2023 229,701
Charge for year 7,631
At 30 March 2024 237,332
NET BOOK VALUE
At 30 March 2024 11,684
At 30 March 2023 11,671

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 476,690 485,509
Amounts owed by group undertakings - 12,454
Other debtors 29,388 2,978
506,078 500,941

NOTION LIMITED (REGISTERED NUMBER: 04422370)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 37,569 10,017
Trade creditors 126,709 127,005
Taxation and social security 77,931 117,052
Other creditors 62,001 69,441
304,210 323,515

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 190,437 24,837
Other creditors 493,917 396,037
684,354 420,874

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 36,217 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bounce back loan 24,946 34,837

Natwest bank have a fixed and floating charge over the assets of the company