Nugent (SW) Limited - Period Ending 2019-11-30
Nugent (SW) Limited - Period Ending 2019-11-30
Year Ended
Registration number:
Nugent (SW) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Nugent (SW) Limited
Company Information
Directors |
Mr D G Nugent Mr C Owen |
Company secretary |
Mrs A Nugent |
Registered office |
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Accountants |
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Page 1 |
Nugent (SW) Limited
Balance Sheet
30 November 2019
Note |
2019 |
2018 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 2 |
Nugent (SW) Limited
Balance Sheet
30 November 2019
For the financial year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 03655985
Page 3 |
Nugent (SW) Limited
Notes to the Financial Statements
Year Ended 30 November 2019
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006. There are no material departures from FRS102.
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.
Going concern
The directors of Nugent (SW) Limited has considered the impact of COVID-19.
In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.
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 value added tax. The company recognises revenue based on its value of the service provided to date.
Tax
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.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Page 4 |
Nugent (SW) Limited
Notes to the Financial Statements
Year Ended 30 November 2019
Investment property
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Investment properties |
2019 |
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At 1 December |
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There has been no valuation of investment property by an independent valuer.
Debtors |
2019 |
2018 |
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Other debtors |
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Page 5 |
Nugent (SW) Limited
Notes to the Financial Statements
Year Ended 30 November 2019
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Corporation tax |
55,538 |
54,791 |
Social security and other taxes |
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Other creditors |
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Accrued expenses |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Reserves |
Included in the profit and loss account balance carried forward are non-distributable reserves of £1,043,637 (2018 £1,050,900). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment property.
Parent and ultimate parent undertaking |
The company's immediate parent is
Page 6 |