Gerard Nolan and Partners Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07362358 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2021

FOR

GERARD NOLAN AND PARTNERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Nolan

Mrs B Nolan

SECRETARY:

Mrs B Nolan

REGISTERED OFFICE:

83 Cambridge Street

London

SW1V 4PS

REGISTERED NUMBER:

07362358 (England and Wales)

ACCOUNTANTS:

George Hay & Company

Chartered Accountants

83 Cambridge Street

London

SW1V 4PS

FIXED ASSETS

Tangible assets

4

5,709

40,015

CURRENT ASSETS

Debtors

5

522,434

238,659

Cash at bank and in hand

2,255,735

2,427,588

2,778,169

2,666,247

CREDITORS

Amounts falling due within one year

6

172,947

168,193

NET CURRENT ASSETS

2,605,222

2,498,054

TOTAL ASSETS LESS CURRENT LIABILITIES

2,610,931

2,538,069

PROVISIONS FOR LIABILITIES

1,421

6,803

NET ASSETS

2,609,510

2,531,266

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,609,410

2,531,166

SHAREHOLDERS' FUNDS

2,609,510

2,531,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th June 2022 and were signed on its behalf by:

G Nolan - Director

1.	STATUTORY INFORMATION

Gerard Nolan and Partners 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.

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.

Fixtures and fittings

-

25% reducing balance

Motor vehicles

-

25% straight line

Computer equipment

-

25% reducing balance

Financial instruments

The company only enters into basic instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st October 2020

and 30th September 2021

11,746

129,615

15,725

157,086

DEPRECIATION

At 1st October 2020

7,054

97,212

12,805

117,071

Charge for year

1,173

32,403

730

34,306

At 30th September 2021

8,227

129,615

13,535

151,377

NET BOOK VALUE

At 30th September 2021

3,519

-

2,190

5,709

At 30th September 2020

4,692

32,403

2,920

40,015

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

302,200

13,480

Other debtors

203,822

209,450

Prepayments and accrued income

16,412

15,729

522,434

238,659

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

5,343

4,440

Tax

42,661

81,068

VAT

43,156

38,577

Other creditors

6,000

-

Directors' loan accounts

70,236

38,557

Accruals and deferred income

5,551

5,551

172,947

168,193

7.	RELATED PARTY DISCLOSURES

Included in Other debtors as at 30th September 2021 is a loan of £200,000 (2020: £200,000) to C1 Capital Partners Limited, a company under the control of Mr G Nolan. The loan is repayable on demand and no interest is charged.

Included in Other debtors as at 30th September 2021 is a loan of £1,266 (2020: £Nil) to Gemapak Limited, a company under the control of Mr G Nolan. The loan is repayable on demand and no interest is charged.