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Registration number: 10764510

Nourishing Vitality Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Nourishing Vitality Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Nourishing Vitality Ltd

Company Information

Directors

Mr S Hewitt

Mrs C I Hewitt

Registered office

27 Old Gloucester Street
London
WC1N 3AX

Accountants

Mint Accounting Ltd
63 Dock Street
Dundee
DD1 3DU

 

Nourishing Vitality Ltd

(Registration number: 10764510)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

358

421

Tangible assets

5

25,693

44

 

26,051

465

Current assets

 

Stocks

6

567,125

423,710

Debtors

7

627,826

644,874

Cash at bank and in hand

 

190,211

450,932

 

1,385,162

1,519,516

Creditors: Amounts falling due within one year

8

(148,074)

(364,523)

Net current assets

 

1,237,088

1,154,993

Net assets

 

1,263,139

1,155,458

Capital and reserves

 

Called up share capital

10

10

Retained earnings

1,263,129

1,155,448

Shareholders' funds

 

1,263,139

1,155,458

For the financial year ending 31 May 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Nourishing Vitality Ltd

(Registration number: 10764510)
Balance Sheet as at 31 May 2024

These financial statements have been 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 29 April 2025 and signed on its behalf by:
 

.........................................
Mr S Hewitt
Director

 

Nourishing Vitality Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
27 Old Gloucester Street
London
WC1N 3AX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Nourishing Vitality Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

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

Computer equipment

3 years on cost

Fixtures and fittings

3 years on cost

Motor vehicles

25% reducing balance method

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

Nourishing Vitality Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks

10 years on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Nourishing Vitality Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 June 2023

625

625

At 31 May 2024

625

625

Amortisation

At 1 June 2023

204

204

Amortisation charge

63

63

At 31 May 2024

267

267

Carrying amount

At 31 May 2024

358

358

At 31 May 2023

421

421

The aggregate amount of research and development expenditure recognised as an expense during the period is £167 (2023 - £-).
 

 

Nourishing Vitality Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

758

-

758

Additions

2,033

24,950

26,983

Disposals

(758)

-

(758)

At 31 May 2024

2,033

24,950

26,983

Depreciation

At 1 June 2023

714

-

714

Charge for the year

608

682

1,290

Eliminated on disposal

(714)

-

(714)

At 31 May 2024

608

682

1,290

Carrying amount

At 31 May 2024

1,425

24,268

25,693

At 31 May 2023

44

-

44

6

Stocks

2024
£

2023
£

Other inventories

567,125

423,710

7

Debtors

Current

2024
£

2023
£

Trade debtors

131,758

533,906

Prepayments

248,613

10,502

Other debtors

247,455

100,466

 

627,826

644,874

 

Nourishing Vitality Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

8,508

56,361

Taxation and social security

26,321

89,181

Accruals and deferred income

93,554

97,550

Other creditors

19,691

121,431

148,074

364,523

9

Related party transactions

 

Nourishing Vitality Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Transactions with directors

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Mr S Hewitt

During the year the company provided the director with an interest free loan, which is unsecured, repayable on demand and shown under Other Debtors. This loan has been repaid in full after the year end.

(110,731)

472,293

(43,514)

318,048

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Mr S Hewitt

During the year the company provided the director with an interest free loan, which is unsecured, repayable on demand and shown under Other Debtors. This loan has been repaid in full after the year end.

(143,603)

198,578

(165,705)

(110,731)