Now Group London Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08101020 (England and Wales)

Financial Statements

for the Period

1 July 2017 to 31 August 2018

for

NOW GROUP LONDON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr V Varsani

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

08101020 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Intangible assets

3

470,000

540,000

Investments

4

200

200

470,200

540,200

CURRENT ASSETS

Debtors

5

228,964

-

Cash at bank

1,469

-

230,433

-

CREDITORS

Amounts falling due within one year

6

700,431

492,049

NET CURRENT LIABILITIES

(469,998

)

(492,049

)

TOTAL ASSETS LESS CURRENT LIABILITIES

202

48,151

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

2

47,951

202

48,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 May 2019 and were signed by:

Mr V Varsani - Director

1.	STATUTORY INFORMATION

Now Group London Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

3.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 July 2017

and 31 August 2018

600,000

AMORTISATION

At 1 July 2017

60,000

Amortisation for period

70,000

At 31 August 2018

130,000

NET BOOK VALUE

At 31 August 2018

470,000

At 30 June 2017

540,000

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2017

and 31 August 2018

200

NET BOOK VALUE

At 31 August 2018

200

At 30 June 2017

200

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

30.6.17

£

£

Other debtors

228,964

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

30.6.17

£

£

Amounts owed to group undertakings

656,949

490,129

Taxation and social security

43,482

-

Other creditors

-

1,920

700,431

492,049

7.	RELATED PARTY DISCLOSURES

At balance sheet date the company owed Teach Now Ltd £656,948 (2017: £490,129), a

related party by virtue of the fact that they are under common control.