Nectar Wealth Ltd - Period Ending 2016-10-31

Registration number: 08726023

Nectar Wealth Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

KRW Accountants Limited
Chartered Accountants & Tax Advisers
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

Nectar Wealth Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Nectar Wealth Ltd
(Registration number: 08726023)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					25,000			25,000
Tangible fixed assets					3,176			4,741
					28,176			29,741
Current assets
Stocks					10,938			-
Debtors					3,152			6,260
Cash at bank and in hand					-			12
					14,090			6,272
Creditors: Amounts falling due within one year					(39,638)			(35,916)
Net current liabilities					(25,548)			(29,644)
Net assets					2,628			97
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					2,528			(3)
Shareholders' funds					2,628			97

For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Nectar Wealth Ltd
(Registration number: 08726023)
Abbreviated Balance Sheet at 31 October 2016
......... continued

Approved by the Board on 19 May 2017 and signed on its behalf by:

.........................................
Mr Neil Robert Thompson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Nectar Wealth Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	33% Reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Nectar Wealth Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2015		25,000			5,566			30,566
At 31 October 2016		25,000			5,566			30,566
Depreciation
At 1 November 2015		-			825			825
Charge for the year		-			1,565			1,565
At 31 October 2016		-			2,390			2,390
Net book value
At 31 October 2016		25,000			3,176			28,176
At 31 October 2015		25,000			4,741			29,741

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

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