David Nugent & Co Limited - Accounts

David Nugent & Co Limited - Accounts

DAVID NUGENT & CO LIMITED - Company Information

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Registered Number: 06501557
England and Wales

 

 

 

DAVID NUGENT & CO LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2020

End date: 31 May 2021

David Nugent & Co Limited
Contents Page
For the year ended 31 May 2021
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Intangible fixed assets 35,835    0 
Tangible fixed assets 6,247    8,181 
42,082    8,181 
Current assets      
Debtors 16,376    15,658 
Cash at bank and in hand 43,554    107,417 
59,930    123,075 
Creditors: amount falling due within one year (46,048)   (47,960)
Net current assets 13,882    75,115 
 
Total assets less current liabilities 55,964    83,296 
Creditors: amount falling due after more than one year (31,765)   (48,887)
Net assets 24,199    34,409 
 

Capital and reserves 		     
Called up share capital 1    1 
Profit and loss account 24,198    34,408 
Shareholder's funds 24,199    34,409 
 


For the year ended 31 May 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 February 2022 and were signed by:


--------------------------------
David Nugent
Director
1
General Information
David Nugent & Co Limited is a private company, limited by shares, registered in England and Wales, registration number 06501557, registration address The Counting House, 4A Moss Lane, Swinton, Manchester, M27 9SA

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 7 (2020 : 7).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2020 110,000    110,000 
Additions 39,816    39,816 
Disposals -    - 
At 31 May 2021 149,816    149,816 
Amortisation
At 01 June 2020 110,000    110,000 
Charge for year 3,981    3,981 
On disposals -    - 
At 31 May 2021 113,981    113,981 
Net book values
At 31 May 2021 35,835    35,835 
At 31 May 2020 -    - 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 June 2020 1,811    17,413    19,224 
Additions -    -    - 
Disposals -    -    - 
At 31 May 2021 1,811    17,413    19,224 
Depreciation
At 01 June 2020 699    10,344    11,043 
Charge for year 167    1,767    1,934 
On disposals -    -    - 
At 31 May 2021 866    12,111    12,977 
Net book values
Closing balance as at 31 May 2021 945    5,302    6,247 
Opening balance as at 01 June 2020 1,112    7,069    8,181 


2