ACCOUNTS - Final Accounts

NOMAD CONSULTING LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03179474 2022-04-01 2023-03-31 03179474 2021-04-01 2022-03-31 03179474 2023-03-31 03179474 2022-03-31 03179474 2021-04-01 03179474 c:Director1 2022-04-01 2023-03-31 03179474 d:OfficeEquipment 2022-04-01 2023-03-31 03179474 d:OfficeEquipment 2023-03-31 03179474 d:OfficeEquipment 2022-03-31 03179474 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03179474 d:CurrentFinancialInstruments 2023-03-31 03179474 d:CurrentFinancialInstruments 2022-03-31 03179474 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03179474 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03179474 d:ShareCapital 2023-03-31 03179474 d:ShareCapital 2022-03-31 03179474 d:RetainedEarningsAccumulatedLosses 2023-03-31 03179474 d:RetainedEarningsAccumulatedLosses 2022-03-31 03179474 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03179474 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 03179474 c:OrdinaryShareClass1 2022-04-01 2023-03-31 03179474 c:OrdinaryShareClass1 2023-03-31 03179474 c:OrdinaryShareClass1 2022-03-31 03179474 c:FRS102 2022-04-01 2023-03-31 03179474 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03179474 c:FullAccounts 2022-04-01 2023-03-31 03179474 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03179474 2 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03179474

NOMAD CONSULTING LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

NOMAD CONSULTING LIMITED

REGISTERED NUMBER: 03179474

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		1,167		1,839
			1,167		1,839
Current assets
Debtors: amounts falling due within one year	5	43,022		40,395
Cash at bank and in hand		16,671		82,340
		59,693		122,735
Creditors: amounts falling due within one year	6	(32,370)		(44,905)
Net current assets			27,323		77,830
Total assets less current liabilities			28,490		79,669

Net assets			28,490		79,669

Capital and reserves
Called up share capital	8	100	100
Profit and loss account		28,390	79,569
		28,490	79,669

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NOMAD CONSULTING LIMITED

REGISTERED NUMBER: 03179474

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 August 2023.

Mr N Reed

Director

The notes on pages 3 to 7 form part of these financial statements.

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NOMAD CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

Nomad Consulting Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is 11 Beldams Gate, Bishops Stortford, Hertfordshire, CM23 5RN. The Company is not part of a group.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

33%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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NOMAD CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial 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, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.10

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

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NOMAD CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2023	2022
	No.	No.

Total	2	2

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NOMAD CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 April 2022	2,015
	At 31 March 2023	2,015
	Depreciation
	At 1 April 2022	176
	Charge for the year on owned assets	672
	At 31 March 2023	848
	Net book value
	At 31 March 2023	1,167
	At 31 March 2022	1,838

Debtors

					2023	2022
					£	£


Trade debtors	42,898	40,321
Deferred taxation	124	74
	43,022	40,395

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Corporation tax	16,195	25,751
Other taxation and social security	10,331	15,799
Other creditors	3,844	1,259
Accruals and deferred income	2,000	2,096
	32,370	44,905

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NOMAD CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

7.	Deferred taxation

	2023	2022
	£	£

At beginning of year	74	516
Charged to profit or loss	51	(442)
At end of year	125	74

The deferred tax asset is made up as follows:
	2023	2022
	£	£

	Accelerated capital allowances	124	74
		124	74

8.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

100 (2022 - 100) ordinary shares of £1.00 each	100	100

9.	Related party transactions
	During the year the company paid dividends of £120,000 (2022 - £163,000) to the directors. During the year the company maintained a loan account with the directors, the amounts due to them at the year end were £3,821 (2022 - £1,020). This loan is repayable on demand.

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