Registration number:
Nology Ltd
for the Year Ended 31 October 2018
Middlesex House
130 College Road
Harrow
Middlesex
HA1 1BQ
Nology Ltd
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Abridged Profit and Loss Account |
|
Statement of Comprehensive Income |
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Abridged Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Abridged Financial Statements |
Nology Ltd
Company Information
Director |
Mrs Amanda Moran |
Company secretary |
Mrs Amanda Moran |
Registered office |
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Accountants |
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Page 1 |
Nology Ltd
Director's Report for the Year Ended 31 October 2018
The director presents her report and the abridged financial statements for the year ended 31 October 2018.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is consultancy
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Company secretary and director
Page 2 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Nology Ltd
for the Year Ended 31 October 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nology Ltd for the year ended 31 October 2018 as set out on pages 4 to 9 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Nology Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Nology Ltd and state those matters that we have agreed to state to the Board of Directors of Nology Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nology Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Nology Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nology Ltd. You consider that Nology Ltd 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 accounts of Nology Ltd. 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 accounts.
......................................
130 College Road
Harrow
Middlesex
HA1 1BQ
Page 3 |
Nology Ltd
Abridged Profit and Loss Account for the Year Ended 31 October 2018
Note |
2018 |
2017 |
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Gross profit |
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Administrative expenses |
( |
( |
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Profit/(loss) before tax |
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( |
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Profit/(loss) for the financial year |
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( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 4 |
Nology Ltd
Statement of Comprehensive Income for the Year Ended 31 October 2018
2018 |
2017 |
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Profit/(loss) for the year |
|
( |
Total comprehensive income for the year |
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( |
Page 5 |
Nology Ltd
(Registration number: 06729466)
Abridged Balance Sheet as at 31 October 2018
Note |
2018 |
2017 |
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Current assets |
|||
Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
|||
Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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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 accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
.........................................
Company secretary and director
Page 6 |
Nology Ltd
Statement of Changes in Equity for the Year Ended 31 October 2018
Share capital |
Profit and loss account |
Total |
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At 1 November 2017 |
|
( |
( |
Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 October 2018 |
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( |
( |
Share capital |
Profit and loss account |
Total |
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At 1 November 2016 |
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- |
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Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 October 2017 |
|
( |
( |
Page 7 |
Nology Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 October 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 8 |
Nology Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 October 2018
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
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1 |
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1 |
Page 9 |