National Numbers Limited Filleted accounts for Companies House (small and micro)

NATIONAL NUMBERS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03441322

National Numbers Limited

Filleted Financial Statements

30 June 2020

National Numbers Limited

Statement of Financial Position

30 June 2020

	2020	2019
Note	£	£

Current assets

Stocks		1,166,620	1,137,929
Debtors	7	2,428,036	2,877,425
Cash at bank and in hand		3,483,243	2,360,395
		-----------	-----------
		7,077,899	6,375,749

Creditors: amounts falling due within one year	8	729,414	499,861
		-----------	-----------
Net current assets		6,348,485	5,875,888
		-----------	-----------
Total assets less current liabilities		6,348,485	5,875,888
		-----------	-----------
Net assets		6,348,485	5,875,888
		-----------	-----------

Capital and reserves

Called up share capital	10	2	2
Profit and loss account		6,348,483	5,875,886
		-----------	-----------
Shareholders funds		6,348,485	5,875,888
		-----------	-----------

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.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 29 January 2021 , and are signed on behalf of the board by:

Mr PG Jepson
Director

Company registration number: 03441322

National Numbers Limited

Notes to the Financial Statements

Year ended 30 June 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Grange, P O Box 20, Billingham, TS23 1XY, United Kingdom.

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.

Going concern

During the financial year, the worldwide Covid-19 pandemic has impacted the operations of this business. Despite the impact on operations, it did not have a significant effect on the 2020 results although the company is making use of Government support where available. The company has strong cash reserves to act as a cushion against any deterioration in the trading position, and maintains efforts to monitor costs and reduce these wherever possible. It is therefore deemed appropriate to continue to to prepare the accounts on the going concern basis.

Consolidation

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of an EEA State.

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Computer software	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

Fixtures and fittings	-	33% straight line
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

Financial instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2019: 14 ).

5. Intangible assets

	Computer software
	£
Cost
At 1 July 2019 and 30 June 2020	21,000
	-------
Amortisation
At 1 July 2019 and 30 June 2020	21,000
	-------
Carrying amount
At 30 June 2020	–
	-------
At 30 June 2019	–
	-------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 July 2019 and 30 June 2020	40,744	3,710	44,454
	-------	------	-------
Depreciation
At 1 July 2019 and 30 June 2020	40,744	3,710	44,454
	-------	------	-------
Carrying amount
At 30 June 2020	–	–	–
	-------	------	-------
At 30 June 2019	–	–	–
	-------	------	-------

7. Debtors

	2020	2019
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,396,616	2,839,458
Other debtors	31,420	37,967
	-----------	-----------
	2,428,036	2,877,425
	-----------	-----------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	301,305	195,499
Corporation tax	110,624	102,046
Social security and other taxes	88,847	65,244
Other creditors	228,638	137,072
	---------	---------
	729,414	499,861
	---------	---------

The company has a credit card facility of £500,000 from the bank. This is secured by a fixed and floating charge over the assets of the company.

9. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2020	2019
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	7,077,899	6,375,749
	-----------	-----------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	729,414	499,861
	---------	---------

10. Called up share capital

Issued, called up and fully paid

	2020		2019
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

11. Summary audit opinion

The auditor's report for the year dated 29 January 2021 was unqualified.

The senior statutory auditor was Stephen Allen , for and on behalf of Allen, West and Foster Limited .

12. Controlling party

The controlling party is Jepson & Co Ltd and the ultimate controlling party is Jepson Holdings Ltd. National Numbers Ltd is consolidated within the group accounts of Jepson Holdings Ltd, whose registered office is 2 Broomgrove Road, Sheffield, S10 2LR.