Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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622,342 | 622,427 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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71,737 | 42,920 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 52,401 | 30,572 | ||
Total assets less current liabilities | 674,743 | 652,999 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Capital redemption reserve |
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Other reserves |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Nuttalls (Plymouth) Limited (registered number:
Mr D B A Nuttall
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Nuttalls (Plymouth) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp North Quay House, Sutton Harbour, Plymouth, PL4 0RA, United Kingdom. The principal place of business is 25 Seymour Park, Mannamead, Plymouth, Devon, PL3 5BQ.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
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.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Office equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 July 2021 |
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At 30 June 2022 |
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Accumulated depreciation | |||
At 01 July 2021 |
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Charge for the financial year |
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At 30 June 2022 |
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Net book value | |||
At 30 June 2022 |
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At 30 June 2021 |
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Investment property | |
£ | |
Valuation | |
As at 01 July 2021 |
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As at 30 June 2022 |
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The director has provided the above valuation based on their interpretation of the market and the factors that they have experienced, in order to determine the appropriate fair value at the year end.
2022 | 2021 | ||
£ | £ | ||
Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Corporation tax |
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Other taxation and social security |
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Other creditors |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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