Natzone Overage Limited Filleted accounts for Companies House (small and micro)

Natzone Overage Limited Filleted accounts for Companies House (small and micro)

NATZONE OVERAGE LIMITED - Company Information

Print Friendly Version

0 false false false false false false false false false true false false false false true false No description of principal activity 2021-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 23 23 23 xbrli:pure xbrli:shares iso4217:GBP 11519326 2021-01-01 2021-12-31 11519326 2021-12-31 11519326 2020-12-31 11519326 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 11519326 bus:Director1 2021-01-01 2021-12-31 11519326 core:WithinOneYear 2021-12-31 11519326 core:WithinOneYear 2020-12-31 11519326 core:AfterOneYear 2021-12-31 11519326 core:ShareCapital 2021-12-31 11519326 core:ShareCapital 2020-12-31 11519326 core:RetainedEarningsAccumulatedLosses 2021-12-31 11519326 core:RetainedEarningsAccumulatedLosses 2020-12-31 11519326 core:CostValuation core:Non-currentFinancialInstruments 2021-12-31 11519326 core:Non-currentFinancialInstruments 2021-12-31 11519326 core:Non-currentFinancialInstruments 2020-12-31 11519326 bus:SmallEntities 2021-01-01 2021-12-31 11519326 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 11519326 bus:FullAccounts 2021-01-01 2021-12-31 11519326 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 11519326 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 11519326 bus:OrdinaryShareClass1 2021-12-31 11519326 bus:OrdinaryShareClass1 2020-12-31 11519326 core:Associate1 2021-01-01 2021-12-31
COMPANY REGISTRATION NUMBER: 11519326
NATZONE OVERAGE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2021
NATZONE OVERAGE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2021
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
NATZONE OVERAGE LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
FIXED ASSETS
Investments
4
23
23
CURRENT ASSETS
Debtors
5
632,718
761,142
Cash at bank and in hand
218,535
101,055
----------
----------
851,253
862,197
CREDITORS: amounts falling due within one year
6
547,039
817,026
----------
----------
NET CURRENT ASSETS
304,214
45,171
----------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
304,237
45,194
CREDITORS: amounts falling due after more than one year
7
20,749
–
----------
--------
NET ASSETS
283,488
45,194
----------
--------
NATZONE OVERAGE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2021
2021
2020
Note
£
£
CAPITAL AND RESERVES
Called up share capital
8
10
10
Profit and loss account
283,478
45,184
----------
--------
SHAREHOLDERS FUNDS
283,488
45,194
----------
--------
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.
For the year ending 31st December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act 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 11 August 2022 , and are signed on behalf of the board by:
T Cartner
Director
Company registration number: 11519326
NATZONE OVERAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Carter House, Pelaw Leazes Lane, Durham, DH1 1TB, England.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
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 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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 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.
4. INVESTMENTS
Shares in group undertakings
£
Cost
At 1st January 2021 and 31st December 2021
23
----
Impairment
At 1st January 2021 and 31st December 2021
–
----
Carrying amount
At 31st December 2021
23
----
At 31st December 2020
23
----
5. DEBTORS
2021
2020
£
£
Amounts owed by undertakings in which the company has a participating interest
558,718
761,132
Other debtors
74,000
10
----------
----------
632,718
761,142
----------
----------
6. CREDITORS: amounts falling due within one year
2021
2020
£
£
Amounts owed to undertakings in which the company has a participating interest
23
23
Accruals and deferred income
1,120
1,000
Corporation tax
55,896
11,003
Other creditors
490,000
805,000
----------
----------
547,039
817,026
----------
----------
7. CREDITORS: amounts falling due after more than one year
2021
2020
£
£
Director loan accounts
20,749
–
--------
----
8. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2021
2020
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
----
----
----
----
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The company has received loan funding of £20,749 (2020: £nil) from a director within the year. The loan is interest free and repayable on demand, at the balance sheet date £20,749 (2020: £nil) was outstanding.
10. RELATED PARTY TRANSACTIONS
During the year the company made a loan repayment of £805,000 (2020: £nil) to a company under common control. At the balance sheet date £nil (2020: £805,000) remained outstanding. The loan is interest free and repayable on demand. During the year the company received advancement of £490,000 (2020: £nil) from a company under common control. At the balance sheet date £490,000 (2020: £nil) remained outstanding. The loan is interest free and repayable on demand. During the year the company received a loan repayment of £202,414 (2020: £43,868) from a participating interest. At the balance sheet date £558,718 (2020: £761,132) remained outstanding. The loan is interest free and repayable on demand. During the year the company loaned £24,000 (2020: £nil) to a company under common control. At the balance sheet date £24,000 (2020: £nil) remained outstanding. The loan is interest free and repayable on demand. No further transactions with related parties were undertaken such as required to be disclosed under FRS 102 Section 1A small entities.
11. EMPLOYEE NUMBERS
The company had no employees during the current and previous financial year.