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Registered number: 07365793
Nicola Quilter Limited
Financial Statements
For The Year Ended 30 September 2024
MSE Business Management LLP
Association of Chartered Certified Accountants
1st Floor
104 Oxford Street
London
Greater London
W1D 1LP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07365793
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 28,251 29,043
28,251 29,043
CURRENT ASSETS
Stocks 6 9,785 4,892
Debtors 7 2,658 1,419
Cash at bank and in hand 13,715 15,795
26,158 22,106
Creditors: Amounts Falling Due Within One Year 8 (15,090 ) (15,299 )
NET CURRENT ASSETS (LIABILITIES) 11,068 6,807
TOTAL ASSETS LESS CURRENT LIABILITIES 39,319 35,850
NET ASSETS 39,319 35,850
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 39,317 35,848
SHAREHOLDERS' FUNDS 39,319 35,850
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Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Nicola Quilter
Director
09/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nicola Quilter Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07365793 . The registered office is 1st Floor, 104 Oxford Street, London, Greater London, W1D 1LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life. The asset is now fully amortised.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 90 years
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
Financial Instruments
The company has only basic financial instruments.
Basic financial assets
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.
Basic financial liabilities
Basic financial liabilities, which include creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transactions.
2.7. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 51,083
As at 30 September 2024 51,083
Amortisation
As at 1 October 2023 51,083
As at 30 September 2024 51,083
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 October 2023 28,710 6,299 647 35,656
As at 30 September 2024 28,710 6,299 647 35,656
Depreciation
As at 1 October 2023 1,576 4,391 646 6,613
Provided during the period 315 477 - 792
As at 30 September 2024 1,891 4,868 646 7,405
Net Book Value
As at 30 September 2024 26,819 1,431 1 28,251
As at 1 October 2023 27,134 1,908 1 29,043
6. Stocks
2024 2023
£ £
Finished goods 9,785 4,892
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,658 370
Corporation tax recoverable assets - 1,049
2,658 1,419
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 195 451
Corporation tax 1,131 -
Other taxes and social security - 526
Accruals and deferred income - 150
Director's loan account 13,764 14,172
15,090 15,299
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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