Nativo Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05485238 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

NATIVO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A J Wood

SECRETARY:

R A Wood

REGISTERED OFFICE:

St Paul's House

23 Park Square

Leeds

LS1 2ND

REGISTERED NUMBER:

05485238 (England and Wales)

ACCOUNTANTS:

Sedulo Leeds Limited

St Pauls House

23 Park Square

Leeds

West Yorkshire

LS1 2ND

FIXED ASSETS

Tangible assets

4

7,231

9,635

CURRENT ASSETS

Debtors

5

221,105

272,089

Cash at bank

771,971

795,593

993,076

1,067,682

CREDITORS

Amounts falling due within one year

6

270,697

459,114

NET CURRENT ASSETS

722,379

608,568

TOTAL ASSETS LESS CURRENT LIABILITIES

729,610

618,203

PROVISIONS FOR LIABILITIES

1,374

1,831

NET ASSETS

728,236

616,372

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

728,136

616,272

SHAREHOLDERS' FUNDS

728,236

616,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 31 May 2019 and were signed by:

A J Wood - Director

1.	STATUTORY INFORMATION

Nativo Limited 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.

The principal activity of the company in the year under review was that of marketing.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS102 to all of its financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is

a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at present

value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable

within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference

shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a

financing transaction, where the debt instrument is measured at the present value of the future payments

discounted at a market rate of interest. Financial liabilities classified as payable within one year are not

amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year

or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest rate method.

Taxation

Taxation for the year 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Where assets are financed by leasing agreements that give rights approximating to ownership ('finance leases'),

the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the

minimum lease payable during the lease term. The corresponding leasing commitments are shown as amounts

payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account.

Lease payments are analysed between capital and interest components so that the interest element of the payment

is charged to the profit and loss account over the period of the lease and represents a constant proportion of the

balance of the repayments outstanding. The capital element reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on

a straight line basis over the term of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2017 - 46 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2017

and 30 November 2018

57,205

DEPRECIATION

At 1 December 2017

47,570

Charge for year

2,404

At 30 November 2018

49,974

NET BOOK VALUE

At 30 November 2018

7,231

At 30 November 2017

9,635

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade debtors

180,130

272,089

Other debtors

40,975

-

221,105

272,089

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade creditors

21,936

52,986

Taxation and social security

158,402

221,077

Other creditors

90,359

185,051

270,697

459,114

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2018 and

30 November 2017:

30.11.18

30.11.17

£

£

A J Wood

Balance outstanding at start of year

(10,925

)

31,861

Amounts advanced

121,650

37,214

Amounts repaid

(81,000

)

(80,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

29,725

(10,925

)

The company charged the director interest of £650 (2017 - £1,105) on the loan. The loan has no fixed term of

repayment.

8.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The pension charge for the period represents

contributions payable by the company to the scheme and amounted to £20,763 (2017 - £53,553). There were

contributions of £29,500 (2017 - £29,500) payable to the scheme at the end of the period.