Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01falseTreatment and disposal of non-hazardous waste99falsetruefalse 07515013 2023-05-01 2024-04-30 07515013 2022-05-01 2023-04-30 07515013 2024-04-30 07515013 2023-04-30 07515013 c:Director1 2023-05-01 2024-04-30 07515013 d:PlantMachinery 2023-05-01 2024-04-30 07515013 d:PlantMachinery 2024-04-30 07515013 d:PlantMachinery 2023-04-30 07515013 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07515013 d:MotorVehicles 2023-05-01 2024-04-30 07515013 d:MotorVehicles 2024-04-30 07515013 d:MotorVehicles 2023-04-30 07515013 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07515013 d:FurnitureFittings 2023-05-01 2024-04-30 07515013 d:FurnitureFittings 2024-04-30 07515013 d:FurnitureFittings 2023-04-30 07515013 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07515013 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07515013 d:PatentsTrademarksLicencesConcessionsSimilar 2024-04-30 07515013 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 07515013 d:CurrentFinancialInstruments 2024-04-30 07515013 d:CurrentFinancialInstruments 2023-04-30 07515013 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07515013 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07515013 d:ShareCapital 2024-04-30 07515013 d:ShareCapital 2023-04-30 07515013 d:RevaluationReserve 2024-04-30 07515013 d:RevaluationReserve 2023-04-30 07515013 d:RetainedEarningsAccumulatedLosses 2024-04-30 07515013 d:RetainedEarningsAccumulatedLosses 2023-04-30 07515013 c:FRS102 2023-05-01 2024-04-30 07515013 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07515013 c:FullAccounts 2023-05-01 2024-04-30 07515013 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07515013 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-05-01 2024-04-30 07515013 2 2023-05-01 2024-04-30 07515013 5 2023-05-01 2024-04-30 07515013 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 07515013










NAPPICYCLE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
NAPPICYCLE LTD
REGISTERED NUMBER: 07515013

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
94,449
92,736

Tangible assets
 5 
713,058
471,125

  
807,507
563,861

Current assets
  

Debtors: amounts falling due within one year
 6 
256,100
192,748

Cash at bank and in hand
 7 
62,477
39,962

  
318,577
232,710

Creditors: amounts falling due within one year
 8 
(487,392)
(175,395)

Net current (liabilities)/assets
  
 
 
(168,815)
 
 
57,315

Total assets less current liabilities
  
638,692
621,176

Provisions for liabilities
  

Deferred tax
  
(12,686)
(48,418)

  
 
 
(12,686)
 
 
(48,418)

Net assets
  
626,006
572,758


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
206,415
206,415

Profit and loss account
  
419,589
366,341

  
626,006
572,758


Page 1

 
NAPPICYCLE LTD
REGISTERED NUMBER: 07515013
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2025.




Robert Gwynne Poyer
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
NAPPICYCLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Nappicycle limited is a private company, limited by shares, registered in England and Wales.
The company's registered office address is as below:
Unit 3 Capel Hendre Industrial Estate
Capel Hendre
Ammanford
Carmarthenshire
SA18 3SJ

2.Accounting Policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
NAPPICYCLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting Policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
NAPPICYCLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting Policies (continued)

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
Straight line over 7 years
Motor vehicles
-
25%
On Cost
Fixtures and fittings
-
25%
On Cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
NAPPICYCLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting Policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).


4.


Intangible assets




Patents

£



Cost


At 1 May 2023
92,736


Additions
1,713



At 30 April 2024

94,449






Net book value



At 30 April 2024
94,449



At 30 April 2023
92,736



Page 6

 
NAPPICYCLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 May 2023
589,348
3,000
-
592,348


Additions
318,806
1,094
1,083
320,983



At 30 April 2024

908,154
4,094
1,083
913,331



Depreciation


At 1 May 2023
118,848
2,375
-
121,223


Charge for the year on owned assets
78,221
671
158
79,050



At 30 April 2024

197,069
3,046
158
200,273



Net book value



At 30 April 2024
711,085
1,048
925
713,058



At 30 April 2023
470,500
625
-
471,125


6.


Debtors

2024
2023
£
£


Trade debtors
136,021
91,452

Other debtors
40,053
40,053

Tax recoverable
80,026
61,243

256,100
192,748



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
62,477
39,962

62,477
39,962


Page 7

 
NAPPICYCLE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
121,491
107,307

Other taxation and social security
5,165
1,418

Other creditors
49,115
63,087

Accruals and deferred income
311,621
3,583

487,392
175,395



9.


Reserves

2024
2023
£
£
Revaluation of assets

206,415

206,415
 
206,415

206,415
 

 
Page 8