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Registration number: 14513557

Nordica Studios Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 November 2024

 

Nordica Studios Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Nordica Studios Ltd

(Registration number: 14513557)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

234,000

234,000

Current assets

 

Cash at bank and in hand

 

260

724

Creditors: Amounts falling due within one year

(74,047)

(71,706)

Net current liabilities

 

(73,787)

(70,982)

Total assets less current liabilities

 

160,213

163,018

Creditors: Amounts falling due after more than one year

(157,055)

(164,624)

Net assets/(liabilities)

 

3,158

(1,606)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

3,156

(1,608)

Shareholders' funds/(deficit)

 

3,158

(1,606)

For the financial year ending 30 November 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 28 August 2025 and signed on its behalf by:
 

 

Nordica Studios Ltd

(Registration number: 14513557)
Abridged Balance Sheet as at 30 November 2024

.........................................
M Kaye
Director

.........................................
B C Olechnowicz
Director

 

Nordica Studios Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1

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 abridged 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 abridged 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 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.

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 corporation 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Nordica Studios Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Financial instruments

The company is party to only the basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

2

Staff numbers

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

3

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 30 November 2024

Investment properties

2024
£

At 1 December

234,000

There has been no valuation of investment property by an independent valuer.