Company Registration No. 12114982 (England and Wales)
NATURES LIVING LIMITED
Unaudited Financial Statements
for the year ended 31 July 2021
NATURES LIVING LIMITED
Unaudited Financial Statements
Contents
NATURES LIVING LIMITED
Company Information
for the year ended 31 July 2021
Company Number
12114982 (England and Wales)
Registered Office
2A ROSEHEATH ROAD
HOUNSLOW
MIDDLESEX
TW4 5HH
UNITED KINGDOM
Accountants
Gladstone & Co. Accountants
75 Creighton Avenue
East Ham
London
E6 3DT
NATURES LIVING LIMITED
Accountants' report
Accountants' report to the director of NATURES LIVING LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 July 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
NATURES LIVING LIMITED for the year ended
31 July 2021 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of NATURES LIVING LIMITED, as a body, in accordance with the terms of our engagement letter dated 20 July 2019. Our work has been undertaken solely to prepare for your approval the accounts of NATURES LIVING LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NATURES LIVING LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NATURES LIVING LIMITED 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 NATURES LIVING LIMITED. You consider that NATURES LIVING 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 accounts of NATURES LIVING 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 accounts.
Gladstone & Co. Accountants
75 Creighton Avenue
East Ham
London
E6 3DT
30 October 2021
NATURES LIVING LIMITED
Statement of financial position
as at
31 July 2021
Tangible assets
9,054
8,342
Inventories
18,487
25,390
Cash at bank and in hand
166,155
47,255
Creditors: amounts falling due within one year
(111,597)
(95,184)
Net current assets
100,045
20,626
Total assets less current liabilities
109,099
28,968
Creditors: amounts falling due after more than one year
(38,239)
-
Called up share capital
100
100
Profit and loss account
70,760
28,868
Shareholders' funds
70,860
28,968
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 October 2021 and were signed on its behalf by
Arshia Begum
Director
Company Registration No. 12114982
NATURES LIVING LIMITED
Notes to the Accounts
for the year ended 31 July 2021
NATURES LIVING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12114982. The registered office is 2A ROSEHEATH ROAD, HOUNSLOW, MIDDLESEX, TW4 5HH, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation on land (2% per annum of costs for buildings)
Plant & machinery
10 years
Fixtures & fittings
8 years
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
NATURES LIVING LIMITED
Notes to the Accounts
for the year ended 31 July 2021
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
Charge for the year
1,790
5
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
-
5,500
Debtors: amounts falling due after more than one year
Other debtors
27,000
27,000
NATURES LIVING LIMITED
Notes to the Accounts
for the year ended 31 July 2021
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
10,197
50,000
Trade creditors
27,891
25,390
Taxes and social security
21,311
7,240
Other creditors
2,465
2,356
Loans from directors
38,017
-
7
Creditors: amounts falling due after more than one year
2021
2020
8
Share capital
2021
2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Operating lease commitments
2021
2020
At 31 July 2021 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
326,250
416,250
10
Average number of employees
During the year the average number of employees was 4 (2020: 2).