Nullarbor Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07800662 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

NULLARBOR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M D A Beeby

REGISTERED OFFICE:

Caidan House Business Centre

Canal Road

Timperley

Altrincham

WA14 1TD

REGISTERED NUMBER:

07800662 (England and Wales)

ACCOUNTANTS:

Dennis & Turnbull

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Intangible assets

4

21,596

25,196

Tangible assets

5

889

468

22,485

25,664

CURRENT ASSETS

Debtors

6

44,495

32,064

Cash at bank and in hand

6,900

21,088

51,395

53,152

CREDITORS

Amounts falling due within one year

7

77,238

78,931

NET CURRENT LIABILITIES

(25,843

)

(25,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,358

)

(115

)

CREDITORS

Amounts falling due after more than one year

8

50,036

56,135

NET LIABILITIES

(53,394

)

(56,250

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

10

(53,395

)

(56,251

)

SHAREHOLDERS' FUNDS

(53,394

)

(56,250

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 April 2018 and were signed by:

M D A Beeby - Director

1.	STATUTORY INFORMATION

Nullarbor 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has assessed the company's future projections and cash flow forecasts and believe that

the going concern basis of preparation remains appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the purchase of a franchise in 2013, is being

amortised evenly over 10 years, this being the initial period of the franchise agreement.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% straight line basis

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.

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 18 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 31 October 2017

35,994

AMORTISATION

At 1 November 2016

10,798

Charge for year

3,600

At 31 October 2017

14,398

NET BOOK VALUE

At 31 October 2017

21,596

At 31 October 2016

25,196

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

880

Additions

649

At 31 October 2017

1,529

DEPRECIATION

At 1 November 2016

412

Charge for year

228

At 31 October 2017

640

NET BOOK VALUE

At 31 October 2017

889

At 31 October 2016

468

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

9,619

5,614

Other debtors

34,876

26,450

44,495

32,064

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

6,100

5,609

Trade creditors

2,515

2,110

Taxation and social security

3,465

1,317

Other creditors

65,158

69,895

77,238

78,931

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

50,036

56,135

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr

20,726

28,790

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

56,136

61,744

The loans included within other creditors are secured by way of the following:

A fixed and floating charge over all of the property or undertaking of the company. This charge

includes a negative pledge, dated 5th February 2014.

10.

RESERVES

Retained

earnings

£

At 1 November 2016

(56,251

)

Profit for the year

2,856

At 31 October 2017

(53,395

)

11.	GOING CONCERN

The company and the director are committed to finding a viable solution to support the company's

trading in the future, and on that basis the company is considered a going concern.