Nuway Audio Visual Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 2172616

Nuway Audio Visual Limited

Filleted Unaudited Financial Statements

28 February 2025

Nuway Audio Visual Limited

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		217,414		185,097

Current assets

Stocks		131,622	243,597
Debtors	7	745,668	599,376
Cash at bank and in hand		989,781	143,803
		------------	---------
		1,867,071	986,776

Creditors: amounts falling due within one year	8	995,005		311,761
		------------		---------
Net current assets			872,066		675,015
			------------		---------
Total assets less current liabilities			1,089,480		860,112

Creditors: amounts falling due after more than one year	9	56,459	48,591
		------------	---------
Net assets		1,033,021	811,521
		------------	---------

Capital and reserves

Called up share capital	10	100,000	100,000
Share premium account		47,450	47,450
Profit and loss account		885,571	664,071
		------------	---------
Shareholders funds		1,033,021	811,521
		------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Nuway Audio Visual Limited

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 1 October 2025 , and are signed on behalf of the board by:

Mr C Bursell
Director

Company registration number: 2172616

Nuway Audio Visual Limited

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Stonetec Business Park, Stoneferry Road, Hull, East Yorkshire, HU8 8DA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2024: 12 ).

5. Tax on profit/(loss)

Major components of tax expense/(income)

	2025	2024
	£	£

Current tax:

UK current tax expense/(income)	69,640	( 31,820)
	--------	--------
Tax on profit/(loss)	69,640	( 31,820)
	--------	--------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 March 2024	38,639	314,056	302,048	654,743
Additions	–	–	115,350	115,350
Disposals	–	–	( 54,500)	( 54,500)
	--------	---------	---------	---------
At 28 February 2025	38,639	314,056	362,898	715,593
	--------	---------	---------	---------
Depreciation
At 1 March 2024	13,819	301,702	154,125	469,646
Charge for the year	6,205	3,089	63,178	72,472
Disposals	–	–	( 43,939)	( 43,939)
	--------	---------	---------	---------
At 28 February 2025	20,024	304,791	173,364	498,179
	--------	---------	---------	---------
Carrying amount
At 28 February 2025	18,615	9,265	189,534	217,414
	--------	---------	---------	---------
At 29 February 2024	24,820	12,354	147,923	185,097
	--------	---------	---------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 28 February 2025	117,970
	---------
At 29 February 2024	128,050
	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	623,911	541,339
Prepayments and accrued income	37,820	8,563
Corporation tax repayable	–	31,820
Other debtors	83,937	17,654
	---------	---------
	745,668	599,376
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,309	9,599
Trade creditors	221,591	90,831
Amounts owed to group undertakings	–	16,861
Accruals and deferred income	504,059	121,352
Corporation tax	69,640	–
Social security and other taxes	164,031	28,806
Obligations under finance leases and hire purchase contracts	23,683	43,918
Other creditors	1,692	394
	---------	---------
	995,005	311,761
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	2,905	13,681
Obligations under finance leases and hire purchase contracts	53,554	34,910
	--------	--------
	56,459	48,591
	--------	--------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100,000	100,000	100,000	100,000
	---------	---------	---------	---------

11. Director's advances, credits and guarantees

During the year there were no director's advances, credits and guarantees.

12. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Nuway Holdings Limited	30,000	30,000	–	( 16,861)
	--------	--------	----	--------