NComp@ss Ltd - Period Ending 2020-07-31
NComp@ss Ltd - Period Ending 2020-07-31
Registration number:
NComp@ss Ltd
for the Year Ended 31 July 2020
NComp@ss Ltd
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
NComp@ss Ltd
Company Information
Director |
Mr Guy Algernon Edward Hoogewerf |
Registered office |
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Accountants |
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NComp@ss Ltd
Director's Report for the Year Ended 31 July 2020
The director presents his report and the financial statements for the year ended 31 July 2020.
Director of the company
The director who held office during the year was as follows:
Dividends
The director recommends a final dividend payment of £
Principal activity
The principal activity of the company is the design and servicing of websites
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Director
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
NComp@ss Ltd
for the Year Ended 31 July 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NComp@ss Ltd for the year ended 31 July 2020 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of NComp@ss Ltd, as a body, in accordance with the terms of our engagement letter dated 18 March 2020. Our work has been undertaken solely to prepare for your approval the accounts of NComp@ss Ltd and state those matters that we have agreed to state to the Board of Directors of NComp@ss Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NComp@ss Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NComp@ss Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of NComp@ss Ltd. You consider that NComp@ss Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of NComp@ss Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Mere
Wiltshire
BA12 6FG
NComp@ss Ltd
Profit and Loss Account for the Year Ended 31 July 2020
Note |
2020 |
2019 |
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Turnover |
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|
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Cost of sales |
( |
( |
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Gross profit |
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|
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Administrative expenses |
( |
( |
|
Operating profit/(loss) |
15,747 |
(3,765) |
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Profit/(loss) before tax |
|
( |
|
Tax on profit/(loss) |
( |
- |
|
Profit/(loss) for the financial year |
|
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
NComp@ss Ltd
Statement of Comprehensive Income for the Year Ended 31 July 2020
2020 |
2019 |
|
Profit/(loss) for the year |
|
( |
Total comprehensive income for the year |
|
( |
NComp@ss Ltd
(Registration number: 3508317)
Balance Sheet as at 31 July 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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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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Net assets |
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|
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Capital and reserves |
|||
Called up share capital |
19,175 |
19,175 |
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Profit and loss account |
29,866 |
15,535 |
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Shareholders' funds |
49,041 |
34,710 |
For the financial year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
.........................................
Director
NComp@ss Ltd
Statement of Changes in Equity for the Year Ended 31 July 2020
Share capital |
Profit and loss account |
Total |
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At 1 August 2019 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 July 2020 |
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Share capital |
Profit and loss account |
Total |
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At 1 August 2018 |
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|
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Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
New share capital subscribed |
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- |
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At 31 July 2019 |
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|
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NComp@ss Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
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 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
NComp@ss Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures & Fittings |
25% straight line |
Office equipment |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
NComp@ss Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit/loss before tax |
Arrived at after charging/(crediting)
2020 |
2019 |
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Depreciation expense |
|
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NComp@ss Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
||
At 1 August 2019 |
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Additions |
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At 31 July 2020 |
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Depreciation |
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At 1 August 2019 |
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Charge for the year |
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At 31 July 2020 |
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Carrying amount |
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At 31 July 2020 |
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At 31 July 2019 |
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Debtors |
2020 |
2019 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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NComp@ss Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
|||
No. |
£ |
No. |
£ |
|
|
|
19,175 |
|
19,175 |
Allotted, called up and fully paid shares
2020 |
2019 |
|||
No. |
£ |
No. |
£ |
|
|
|
19,175 |
|
19,175 |
Loans and borrowings |
2020 |
2019 |
|
Current loans and borrowings |
||
Other borrowings |
|
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Dividends |
2020 |
2019 |
|||
£ |
£ |
|||
Final dividends paid
2020 |
2019 |
|||
Final dividend of Nil per each |
- |
- |
||
Recommended final dividends paid and not recognised in the accounts
The director is recommending the following final dividends:
£- (2019 - £-) per each |
These dividends have not been accrued in the Balance Sheet.
NComp@ss Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
Related party transactions |
Directors' remuneration
The director's remuneration for the year was as follows:
2020 |
2019 |
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Remuneration |
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