Company Registration No. 01394218 (England and Wales)
P.M. NUNNS ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018
PAGES FOR FILING WITH REGISTRAR
P.M. NUNNS ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
P.M. NUNNS ASSOCIATES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2018
30 September 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,739
2,627
Investments
4
232,374
218,535
235,113
221,162
Current assets
Stocks
225
225
Debtors
5
1,153
932
Cash at bank and in hand
16,204
19,012
17,582
20,169
Creditors: amounts falling due within one year
6
(2,986)
(4,500)
Net current assets
14,596
15,669
Total assets less current liabilities
249,709
236,831
Provisions for liabilities
(2,739)
(2,662)
Net assets
246,970
234,169
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
246,870
234,069
Total equity
246,970
234,169
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for:
-
ensuring that the company keeps accounting records which comply with Sections 386 and 387
of the Companies Act 2006 and
-
preparing financial statements
which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to
the company.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
P.M. NUNNS ASSOCIATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2018
30 September 2018
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 June 2019
Miss P M Nunns
Director
Company Registration No. 01394218
P.M. NUNNS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018
- 3 -
1
Accounting policies
Company information
P.M. Nunns Associates Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
46 Hamilton Square, Birkenhead, Wirral, Merseyside, CH41 5AR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
1.2
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.3
Fixed asset investments
Investments in shares are listed at fair value.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and se
ll, after making due allowance for obsolete and slow moving items.
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
P.M. NUNNS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2018
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 1).
P.M. NUNNS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2018
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2017
46,455
Additions
595
At 30 September 2018
47,050
Depreciation and impairment
At 1 October 2017
43,828
Depreciation charged in the year
483
At 30 September 2018
44,311
Carrying amount
At 30 September 2018
2,739
At 30 September 2017
2,627
4
Fixed asset investments
2018
2017
£
£
Investments
232,374
218,535
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 October 2017
218,535
Valuation changes
13,839
At 30 September 2018
232,374
Carrying amount
At 30 September 2018
232,374
At 30 September 2017
218,535
P.M. NUNNS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2018
- 6 -
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
1,153
932
6
Creditors: amounts falling due within one year
2018
2017
£
£
Other creditors
2,986
4,500