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Registration number: 10330458

NAO Landscapes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

NAO Landscapes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

NAO Landscapes Limited

Company Information

Directors

Mr Nicholas Aleksander Osman

Mrs Lucy Osman

Registered office

WeWork
1 Poultry
London
EC2R 8EJ

Accountants

Charter Tax Consulting Limited 8th Floor
1 Southampton Street
London
WC2R 0LR

 

NAO Landscapes Limited

(Registration number: 10330458)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

50,954

11,188

Current assets

 

Debtors

5

2,577,595

3,191,172

Cash at bank and in hand

 

49,236

329,130

 

2,626,831

3,520,302

Creditors: Amounts falling due within one year

6

(1,567,810)

(2,524,949)

Net current assets

 

1,059,021

995,353

Total assets less current liabilities

 

1,109,975

1,006,541

Creditors: Amounts falling due after more than one year

6

(43,493)

(17,500)

Net assets

 

1,066,482

989,041

Capital and reserves

 

Called up share capital

7

1,100

1,100

Share premium reserve

99,670

99,670

Retained earnings

965,712

888,271

Shareholders' funds

 

1,066,482

989,041

 

NAO Landscapes Limited

(Registration number: 10330458)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared and 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.

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.

Approved and authorised by the Board on 8 May 2025 and signed on its behalf by:
 


Mr Nicholas Aleksander Osman
Director

 

NAO Landscapes Limited

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

1

General information

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

The address of its registered office is:
WeWork
1 Poultry
London
EC2R 8EJ

These financial statements were authorised for issue by the Board on 8 May 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

The company recognises construction contract revenue and costs by reference to the stage of completion of the contract activity at the end of the reporting period.

The director completes surveys of works performed to determine the stage of completion of a construction contract.

The company reviews and revises the estimates of revenue and costs as the construction contracts progress and recognises as an expense any costs where recovery is not probable.

 

NAO Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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 rates prevailing
on the initial transaction dates. Foreign currency differences arising on retranslation are recognised in profit or
loss.

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 statement of financial position 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.

 

NAO Landscapes Limited

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

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

Office and Electrical Equipment

33% Straight Line

Furniture and Fittings

25% Reducing Balance

Plant and Machinery

25% Straight Line

Motor Vehicles under Finance Leases

Straight Line Over the Period of the Lease

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 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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

NAO Landscapes Limited

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

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 6).

 

NAO Landscapes Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

19,667

-

16,252

35,919

Additions

4,288

45,999

1,362

51,649

At 31 August 2024

23,955

45,999

17,614

87,568

Depreciation

At 1 September 2023

12,283

-

12,448

24,731

Charge for the year

5,110

4,856

1,917

11,883

At 31 August 2024

17,393

4,856

14,365

36,614

Carrying amount

At 31 August 2024

6,562

41,143

3,249

50,954

At 31 August 2023

7,384

-

3,804

11,188

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,288,338

1,818,511

Prepayments

769,200

79,956

Other debtors

520,057

1,292,705

 

2,577,595

3,191,172

 

NAO Landscapes Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

258,770

212,291

Trade creditors

 

891,589

1,519,507

Taxation and social security

 

169,942

224,022

Accruals and deferred income

 

184,981

531,485

Other creditors

 

62,528

37,644

 

1,567,810

2,524,949

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

43,493

17,500

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

1,100

1,100

1,100

1,100

       
 

NAO Landscapes Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,500

17,500

Hire purchase contracts

35,993

-

43,493

17,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

3,257

-

Other borrowings

245,513

202,291

258,770

212,291

Bank borrowings

The Barclays Loan is denominated in GBP with a nominal interest rate of 2.50%, and the final instalment is due on 7 May 2026. The carrying amount at year end is £17,500 (2023 - £27,500).