Out of Nowhere Limited,Ltd - AccountsLtd - Accounts

Out of Nowhere Limited,Ltd - AccountsLtd - Accounts

OUT OF NOWHERE LIMITED - Company Information

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2019-01-01 09983523 2019-12-31 09983523 2019-01-01 2019-12-31 09983523 2018-12-31 09983523 2018-01-01 2018-12-31 09983523 uk-core:WithinOneYear 2018-12-31 09983523 uk-core:WithinOneYear 2019-12-31 09983523 uk-core:ShareCapital 2019-12-31 09983523 uk-core:ShareCapital 2018-12-31 09983523 uk-core:RetainedEarningsAccumulatedLosses 2019-12-31 09983523 uk-core:RetainedEarningsAccumulatedLosses 2018-12-31 09983523 uk-bus:Director1 2019-01-01 2019-12-31 09983523 uk-core:FurnitureFittings 2019-01-01 2019-12-31 iso4217:GBP xbrli:pure 09983523 uk-bus:AuditExemptWithAccountantsReport 2019-01-01 2019-12-31 09983523 uk-bus:FRS102 2019-01-01 2019-12-31 09983523 uk-bus:FullAccounts 2019-01-01 2019-12-31 09983523 uk-bus:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31
Out of Nowhere Limited
Registered Number:09983523
For the year ended 31 December 2019
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2019
Out of Nowhere Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Registered Number :
09983523
As at 31 December 2019
Out of Nowhere Limited
Statement of Financial Position
£
£
2018
2019
Notes
Fixed assets
Property, plant and equipment
9,550
7,200
2
9,550
7,200
Current assets
Trade and other receivables
153,764
21,413
3
28,531
Cash and cash equivalents
149,283
170,696
182,295
Trade and other payables: amounts falling due within one
year
(614,571)
(368,182)
4
(432,276)
(197,486)
Net current liabilities
Total assets less current liabilities
(187,936)
(425,076)
(187,936)
Net liabilities
(425,076)
Capital and reserves
Called up share capital
100
100
Retained earnings
(188,036)
(425,176)
(187,936)
(425,076)
Shareholders' funds
For the year ended 31 December 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr L.J.M. Wolfman Director
These financial statements were approved and authorised for issue by the Board on 24 February 2020 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2019
Out of Nowhere Limited
Notes to the Financial Statements
Statutory Information
Out of Nowhere Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 09983523.
Registered address:
Omega Court
368 Cemetery Road
Sheffield
South Yorkshire
S11 8FT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
33.3% Straight line
Furniture and Fittings
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction
price. Any loss arising from impairment is recognised in the statement of comprehensive income with
administrative expenses.
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5
For the year ended 31 December 2019
Out of Nowhere Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Furniture and
Fittings
£
Cost or
valuation
At 01 January 2019
8,000
6,309
Additions
At 31 December 2019
14,309
Provision for depreciation and impairment
At 01 January 2019
800
Charge for year
3,959
At 31 December 2019
4,759
At 31 December 2019
Net book value
9,550
At 31 December 2018
7,200
3. Trade and other receivables
2018
2019
£
£
Trade debtors
11,127
86,221
Other debtors
10,286
67,543
153,764
21,413
4. Trade and other payables: amounts falling due within one year
2018
2019
£
£
Trade creditors
2,950
167,260
Taxation and social security
11,418
-
Other creditors
353,814
447,311
368,182
614,571
5. Related party transactions
AEI Live Limited is a 50% shareholder in Out Of Nowhere Limited, and continued to provide a loan to same.
The loan balance at the year end was £181,812, and this figure is included in 'Other Creditors'.
6. Average number of persons employed
During the year the average number of employees was 0
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