Nutrawise UK Limited - Filleted accounts

Nutrawise UK Limited - Filleted accounts

NUTRAWISE UK LIMITED - Company Information

Print Friendly Version

Registered number
07793635
Nutrawise UK Limited
Filleted Accounts for the year ended
31 December 2017
Nutrawise UK Limited
Registered number: 07793635
Balance Sheet
as at 31 December 2017
Notes 2017 2016
£ £
Current assets
Stocks 12,150 -
Debtors 2 453,196 253,230
Cash at bank and in hand 93,056 44,471
558,402 297,701
Creditors: amounts falling due within one year 3 (532,347) (274,616)
Net current assets 26,055 23,085
Net assets 26,055 23,085
Capital and reserves
Called up share capital 1 1
Profit and loss account 26,054 23,084
Shareholders' funds 26,055 23,085
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Rude
Director
Approved by the board on 27 September 2018
Nutrawise UK Limited
Notes to the Accounts
for the year ended 31 December 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Debtors 2017 2016
£ £
Trade debtors 453,196 253,230
3 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 183,456 124,275
Amounts owed to group undertakings and undertakings in which the company has a participating interest 268,238 113,963
Taxation and social security costs 79,303 35,028
Other creditors 1,350 1,350
532,347 274,616
4 Related party transactions
During the period Nutrawise Corporation a company based in the USA supplied Nutrawise UK Limited with goods totalling £414,460 (2016 - £241,458) which is included in cost of sales. This company owns 100% of the issued share capital in Nutrawise UK Limited.

These transactions were carried out on a commercial arms length basis.
5 Controlling party
The ultimate controlling party is Nutrawise Corporation a company based in the USA, who hold 100% of the issued share capital of the company.
6 Other information
Nutrawise UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Marshgate Drive
Hertford
SG13 7JT
Nutrawise UK Limited 07793635 false 2017-01-01 2017-12-31 2017-12-31 VT Final Accounts July 2018 D Rude No description of principal activity 07793635 core:WithinOneYear 2016-12-31 07793635 core:ShareCapital 2016-12-31 07793635 core:RetainedEarningsAccumulatedLosses 2016-12-31 07793635 2017-01-01 2017-12-31 07793635 bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 07793635 bus:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 07793635 bus:Director40 2017-01-01 2017-12-31 07793635 1 2017-01-01 2017-12-31 07793635 2 2017-01-01 2017-12-31 07793635 countries:England 2017-01-01 2017-12-31 07793635 bus:FRS102 2017-01-01 2017-12-31 07793635 bus:FullAccounts 2017-01-01 2017-12-31 07793635 2017-12-31 07793635 core:WithinOneYear 2017-12-31 07793635 core:ShareCapital 2017-12-31 07793635 core:RetainedEarningsAccumulatedLosses 2017-12-31 07793635 2016-12-31 iso4217:GBP