Registered number
12264819
Nationwide Corporation Group Ltd
Unaudited Filleted Accounts
29 February 2024
Nationwide Corporation Group Ltd
Registered number: 12264819
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 440,772 440,467
Current assets
Debtors 4 142,626 136,626
Cash at bank and in hand 56,276 8,211
198,902 144,837
Creditors: amounts falling due within one year 5 (187,118) (298,363)
Net current assets/(liabilities) 11,784 (153,526)
Total assets less current liabilities 452,556 286,941
Creditors: amounts falling due after more than one year 6 (258,099) (270,875)
Net assets 194,457 16,066
Capital and reserves
Share premium 405 100
Profit and loss account 194,052 15,966
Shareholder's funds 194,457 16,066
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
0
Director
Approved by the board on 10 January 2025
Nationwide Corporation Group Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 March 2023 440,467
Additions 305
At 29 February 2024 440,772
4 Debtors 2024 2023
£ £
Other debtors 142,626 136,626
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 22,914 22,914
Taxation and social security costs 168 168
Other creditors 164,036 275,281
187,118 298,363
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 258,099 270,875
7 Other information
Nationwide Corporation Group Ltd is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
L19 0NQ
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