|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
NAISSANCE NATURAL INGREDIENTS LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE PERIOD 1 FEBRUARY 2017 TO 31 JULY 2018 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
NAISSANCE NATURAL INGREDIENTS LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE PERIOD 1 FEBRUARY 2017 TO 31 JULY 2018 |
|
|
|
|
|
NAISSANCE NATURAL INGREDIENTS LIMITED (REGISTERED NUMBER: 07955631) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2017 TO 31 JULY 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Chartered Accountants' Report | 8 |
NAISSANCE NATURAL INGREDIENTS LIMITED |
|
COMPANY INFORMATION |
FOR THE PERIOD 1 FEBRUARY 2017 TO 31 JULY 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Langdon House |
Langdon Road |
SA1 Swansea Waterfront |
Swansea |
SA1 8QY |
NAISSANCE NATURAL INGREDIENTS LIMITED (REGISTERED NUMBER: 07955631) |
|
BALANCE SHEET |
31 JULY 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
( |
) |
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
|
|
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
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. |
NAISSANCE NATURAL INGREDIENTS LIMITED (REGISTERED NUMBER: 07955631) |
|
BALANCE SHEET - continued |
31 JULY 2018 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
behalf by: |
|
|
|
|
|
|
|
NAISSANCE NATURAL INGREDIENTS LIMITED (REGISTERED NUMBER: 07955631) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2017 TO 31 JULY 2018 |
|
1. | STATUTORY INFORMATION |
|
Naissance Natural Ingredients Limited is a
|
and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
|
Tangible fixed assets |
|
|
If there is an indication that there has been a significant change in depreciation rate or residual value of |
an asset, the depreciation of that asset is revised prospectively to reflect the new expectations. |
|
Cost comprises the purchase price of the asset and expenditure directly attributable to the acquisition |
of the item. |
|
A fixed asset is derecognised upon disposal or when no future economic benefits are expected to arise |
from the continued use of the asset. 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 the income statement. |
|
Impairment of fixed assets |
The company performs impairment testing where there are any indicators of impairment. Impairment is |
calculated as the difference between the carrying value and the recoverable value of the asset. |
Recoverable value is the higher of net realisable value and estimated value in use at the date the |
impairment loss is recognised. Value in use represents the present value of expected future |
discounted cash flows. If incurred, impairment is recognised immediately in the income statement. |
|
Where an impairment loss subsequently reverses, the carrying value of the asset is increased to the |
revised estimate of the recoverable amount, but so that the increased carrying value does not exceed |
the carrying value that would have been determined if no impairment loss had been recognised for the |
asset in prior years. A reversal of an impairment loss is recognised immediately as a credit to the |
income statement. |
NAISSANCE NATURAL INGREDIENTS LIMITED (REGISTERED NUMBER: 07955631) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2017 TO 31 JULY 2018 |
|
2. | ACCOUNTING POLICIES - continued |
|
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 statement of financial position 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. |
|
Basic financial assets |
Basic financial assets, which include trade and other 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. |
|
Trade debtors, loans and other receivables that have fixed or determinable payments that are not |
quoted in an active market are classified as 'loans and receivables'. Loans and receivables are |
measured at amortised cost using the effective interest method, less any impairment. |
|
Interest is recognised by applying the effective interest rate, except for short-term receivables when the |
recognition of interest would be immaterial. The effective interest method is a method of calculating the |
amortised cost of a debt instrument and of allocating the interest income over the relevant period. The |
effective interest rate is the rate that exactly discounts estimated future cash receipts through the |
expected life of the debt instrument to the net carrying amount on initial recognition. |
|
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset |
expire or are settled, or when the company transfers the financial asset and substantially all the risks |
and rewards of ownership to another entity, or if some significant risks and rewards of ownership are |
retained but control of the asset has transferred to another party that is able to sell the asset in its |
entirety to an unrelated third party. |
|
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 trade and other creditors, bank loans, loans from fellow group |
companies, 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 receipts |
discounted at a market rate of interest. |
|
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
|
Trade payables 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 payment is |
due within one year or less. If not, they are presented as non-current liabilities. Trade payables are |
recognised initially at transaction price and subsequently measured at amortised cost using the |
effective interest method. |
|
NAISSANCE NATURAL INGREDIENTS LIMITED (REGISTERED NUMBER: 07955631) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2017 TO 31 JULY 2018 |
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are |
discharged or cancelled. |
|
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the period end and that |
are expected to apply to the reversal of the timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
|
Cash at bank and in hand |
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short |
maturity of three months or less from the date of acquisition or opening of the deposit or similar |
account. |
|
Debtors |
Short term debtors are measured at transaction price, less any impairment. A provision for impairment |
of trade debtors is established when there is objective evidence that the company will not be able to |
collect all amounts due. |
|
Provision for liabilities |
Provisions are recognised when the company has a present obligation (legal and constructive) from a |
past event that will probably result in a transfer of funds to a third party and the amount due to settle |
the obligation can be measured or estimated reliably. |
|
Functional and Presentation Currency |
The company's functional and presentation currency is pounds sterling. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the period was NIL (2017 - 7 ). |
NAISSANCE NATURAL INGREDIENTS LIMITED (REGISTERED NUMBER: 07955631) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2017 TO 31 JULY 2018 |
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2017 |
|
Disposals | ( |
) |
At 31 July 2018 |
|
DEPRECIATION |
At 1 February 2017 |
|
Eliminated on disposal | ( |
) |
At 31 July 2018 |
|
NET BOOK VALUE |
At 31 July 2018 |
|
At 31 January 2017 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Amounts owed by related undertakings |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
|
|
|
8. | RELATED PARTY DISCLOSURES |
|
At the year end there were amounts owed to the directors totalling £105,027 (2017: £105,027). These |
amounts are interest free and repayable on demand. |
|
Included within other debtors are amounts due from companies in which the shareholders have a |
common interest of £62,470 (2017: £17,450). |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
NAISSANCE NATURAL INGREDIENTS LIMITED |
|
The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
other primary statements and the Report of the Directors are not required to be filed with the |
Registrar of Companies. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
the financial statements of Naissance Natural Ingredients Limited for the period ended 31 July 2018 which |
comprise the Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
|
This report is made solely to the Board of Directors of Naissance Natural Ingredients Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Naissance Natural Ingredients Limited and state those matters that we have agreed to state to the Board of Directors of Naissance Natural Ingredients Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Naissance Natural Ingredients Limited and its Board of Directors, as a body, for our work or for this report. |
|
It is your duty to ensure that Naissance Natural Ingredients 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 loss of Naissance Natural Ingredients Limited. You consider that Naissance Natural Ingredients Limited is exempt from the statutory audit requirement for the period. |
|
We have not been instructed to carry out an audit or a review of the financial statements of Naissance Natural Ingredients 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. |
|
|
|
|
|
|
|
Langdon House |
Langdon Road |
SA1 Swansea Waterfront |
Swansea |
SA1 8QY |
|
|
|