Nicola Green Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07618552 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

Nicola Green Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss N N Green

SECRETARY:

Sir M Green

REGISTERED OFFICE:

6 The Street,Itchenor

Chichester

West Sussex

PO20 7AN

REGISTERED NUMBER:

07618552 (England and Wales)

ACCOUNTANTS:

McDermott & Co

Unit 111, The Light Bulb

1 Filament Walk

London

SW18 4GQ

BANKERS:

RBS

FIXED ASSETS

Tangible assets

4

13,501

23,316

CURRENT ASSETS

Stocks

15,000

35,625

Debtors

23,767

601

Cash at bank and in hand

88,686

39,456

127,453

75,682

CREDITORS

Amounts falling due within one year

82,927

95,302

NET CURRENT ASSETS/(LIABILITIES)

44,526

(19,620

)

TOTAL ASSETS LESS CURRENT LIABILITIES

58,027

3,696

CREDITORS

Amounts falling due after more than one year

47,917

-

NET ASSETS

10,110

3,696

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10,010

3,596

SHAREHOLDERS' FUNDS

10,110

3,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2022 and were signed by:

Miss N N Green - Director

1.	STATUTORY INFORMATION

Nicola Green 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.

Land and buildings

-

20% on cost

Plant and machinery etc

-

33% on reducing balance

Government grants

Government grants are credited to income in the year in which they are received.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 2 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2020

45,279

Additions

830

Disposals

(8,866

)

At 31 May 2021

37,243

DEPRECIATION

At 1 June 2020

21,963

Charge for year

6,859

Eliminated on disposal

(5,080

)

At 31 May 2021

23,742

NET BOOK VALUE

At 31 May 2021

13,501

At 31 May 2020

23,316

5.

LOANS

An analysis of the maturity of loans is given below:

31.5.21

31.5.20

£

£

Amounts falling due within one year or on demand:

BBL less than 1 year

2,083

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,000

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

30,000

-

Bank loans 2-5 years

7,917

-

37,917

-

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2021 and 31 May 2020:

31.5.21

31.5.20

£

£

Miss N N Green

Balance outstanding at start of year

-

-

Amounts advanced

(33,471

)

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(33,471

)

-

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Miss N N Green.