COMPANY REGISTRATION NUMBER:
06387685
Nicola Malone Associates Limited
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Filleted Unaudited Financial Statements
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Nicola Malone Associates Limited
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Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Nicola Malone Associates Limited
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Year ended 31 October 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nicola Malone Associates Limited for the year ended 31 October 2019, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Nicola Malone Associates Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Nicola Malone Associates Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nicola Malone Associates Limited and its director for our work or for this report.
It is your duty to ensure that Nicola Malone Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nicola Malone Associates Limited. You consider that Nicola Malone Associates Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Nicola Malone Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BIRDSALL & BENNETT LLP
Chartered accountants
12A-16 North Street
Wetherby
LS22 6NN
6 January 2020
Nicola Malone Associates Limited
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Statement of Financial Position
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31 October 2019
Current assets
Debtors
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6
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13,643
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10,290
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Cash at bank and in hand
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25,185
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43,609
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--------
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--------
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38,828
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53,899
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Creditors: amounts falling due within one year
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7
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9,712
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16,258
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--------
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--------
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Net current assets
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29,116
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37,641
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--------
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--------
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Total assets less current liabilities
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29,116
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37,641
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--------
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--------
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Net assets
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29,116
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37,641
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--------
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--------
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Capital and reserves
Called up share capital
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8
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100
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100
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Profit and loss account
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29,016
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37,541
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--------
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--------
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Shareholder funds
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29,116
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37,641
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--------
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--------
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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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
6 January 2020
, and are signed on behalf of the board by:
Company registration number:
06387685
Nicola Malone Associates Limited
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Notes to the Financial Statements
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Year ended 31 October 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Coach House Cottage, Cattle Lane, Aberford, Leeds, LS25 3BH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Full provision is made for deferred tax assets and liabilities arising from timing differences between recognition of gains and losses in the accounts and their recognition in a tax computation. Assets and liabilities are calculated at the tax rates which are expected to apply in the periods when the timing differences will reverse, and discounted to reflect the time value of money using rates based on post-tax yields to maturity that could be obtained at the balance sheet date on government bonds with similar maturity dates.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities
.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2018:
1
).
5.
Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
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2019
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2018
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£
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£
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Dividends on equity shares
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38,700
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23,700
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--------
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--------
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6.
Debtors
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2019
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2018
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£
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£
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Trade debtors
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13,643
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10,290
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--------
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7.
Creditors:
amounts falling due within one year
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2019
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2018
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£
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£
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Corporation tax
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7,079
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10,836
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Social security and other taxes
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–
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4,365
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Other creditors
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2,633
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1,057
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-------
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9,712
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16,258
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-------
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8.
Called up share capital
Issued, called up and fully paid
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2019
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2018
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No.
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£
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No.
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£
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Ordinary shares of £ 1 each
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100
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100.00
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100
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100.00
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9.
Director's advances, credits and guarantees
As at 31 October 2019 the company owed
Miss N Malone
£ 13
(2018 £92
).
10.
Related party transactions
The company was under the control of Miss N Malone throughout the current and previous year and is the managing director and majority shareholder.