Company Registration No. 10213318 (England and Wales)
Next Frontier Brands Ltd
Unaudited accounts
for the period from 1 July 2020 to 31 December 2020
Next Frontier Brands Ltd
Unaudited accounts
Contents
Next Frontier Brands Ltd
Company Information
for the period from 1 July 2020 to 31 December 2020
Directors
Dean Draper
Amy Conyard
Alan Bottomley
Jason Roth
Shannon Soqui
Company Number
10213318 (England and Wales)
Registered Office
The Distillery
Fusion Way, Bolingbroke Road
Louth
Lincolnshire
LN11 0WA
United Kingdom
Accountants
Redwood Accountants
14 Cobham Drive
Spencers Wood
Reading
Berkshire
RG7 1DJ
Next Frontier Brands Ltd
Statement of financial position
as at
31 December 2020
Tangible assets
76,143
77,239
Inventories
26,300
29,607
Cash at bank and in hand
23,069
4,708
Creditors: amounts falling due within one year
(184,455)
(62,422)
Net current liabilities
(118,761)
(7,765)
Total assets less current liabilities
(42,618)
69,474
Creditors: amounts falling due after more than one year
(57,136)
(50,000)
Provisions for liabilities
Net (liabilities)/assets
(99,754)
13,575
Called up share capital
1
1
Profit and loss account
(99,755)
13,574
Shareholders' funds
(99,754)
13,575
For the period ending 31 December 2020 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 directors acknowledge their 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 of Directors and authorised for issue on 29 October 2021 and were signed on its behalf by
Amy Conyard
Director
Company Registration No. 10213318
Next Frontier Brands Ltd
Notes to the Accounts
for the period from 1 July 2020 to 31 December 2020
Next Frontier Brands Ltd is a private company, limited by shares, registered in England and Wales, registration number 10213318. The registered office is The Distillery, Fusion Way, Bolingbroke Road, Louth, Lincolnshire, LN11 0WA, 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 period, 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.
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:
Plant & machinery
10% straight line
Motor vehicles
15% straight line
Fixtures & fittings
5% straight line
Other tangible fixed assets
15% straight line
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.
Inventories have been valued at the lower of cost and net realisable value, after making allowances for obsolete and slow moving items.
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.
Next Frontier Brands Ltd
Notes to the Accounts
for the period from 1 July 2020 to 31 December 2020
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2020
7,500
6,551
5,478
68,161
87,690
Additions
-
1,092
-
894
1,986
At 31 December 2020
7,500
7,643
5,478
69,055
89,676
At 1 July 2020
1,681
1,716
2,055
4,999
10,451
Charge for the period
563
382
411
1,726
3,082
At 31 December 2020
2,244
2,098
2,466
6,725
13,533
At 31 December 2020
5,256
5,545
3,012
62,330
76,143
At 30 June 2020
5,819
4,835
3,423
63,162
77,239
5
Debtors: amounts falling due within one year
31/12/2020
30/06/2020
Trade debtors
11,327
19,842
6
Creditors: amounts falling due within one year
31/12/2020
30/06/2020
Bank loans and overdrafts
-
1,880
Trade creditors
60,238
34,216
Taxes and social security
30,129
3,231
Loans from directors
(7,506)
5
7
Creditors: amounts falling due after more than one year
31/12/2020
30/06/2020
8
Share capital
31/12/2020
30/06/2020
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Next Frontier Brands Ltd
Notes to the Accounts
for the period from 1 July 2020 to 31 December 2020
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
5,539
3,402
5,188
3,753
Directors Loan
(5,544)
10,917
1,620
3,753
Loans are provided interest free with no set repayment terms.
10
Average number of employees
During the period the average number of employees was 9 (30/06/2020: 8).