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Registration number: 08002465

Nagel and Partners Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Nagel and Partners Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Nagel and Partners Ltd

Company Information

Director

Mr N O Nagel

Registered office

Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Nagel and Partners Ltd

(Registration number: 08002465)
Balance Sheet as at 31 March 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

6

149

392

Current assets

 

Debtors

7

3,027

1,334

Cash at bank and in hand

 

2,435

455

 

5,462

1,789

Creditors: Amounts falling due within one year

8

(5,666)

(11,799)

Net current liabilities

 

(204)

(10,010)

Net liabilities

 

(55)

(9,618)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(155)

(9,718)

Total equity

 

(55)

(9,618)

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 July 2017
 

.........................................

Mr N O Nagel

Director

 

Nagel and Partners Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

1

General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

These financial statements were authorised for issue by the director on 31 July 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

25% Straight Line

Office Equipment

20% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website Costs

33.33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Nagel and Partners Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2017
£

2016
£

Depreciation expense

243

249

 

Nagel and Partners Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2016

3,900

3,900

At 31 March 2017

3,900

3,900

Amortisation

At 1 April 2016

3,900

3,900

At 31 March 2017

3,900

3,900

Carrying amount

At 31 March 2017

-

-

6

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2016

1,088

1,088

At 31 March 2017

1,088

1,088

Depreciation

At 1 April 2016

696

696

Charge for the year

243

243

At 31 March 2017

939

939

Carrying amount

At 31 March 2017

149

149

At 31 March 2016

392

392

 

Nagel and Partners Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

7

Debtors

2017
£

2016
£

Trade debtors

3,027

1,059

Other debtors

-

275

Total current trade and other debtors

3,027

1,334

8

Creditors

Note

2017
£

2016
£

Due within one year

 

Trade creditors

 

233

2,027

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

3,749

9,372

Taxation and social security

 

359

-

Other creditors

 

1,325

400

 

5,666

11,799

9

Share capital

Allotted, called up and fully paid shares

 

2017

2016

 

No.

£

No.

£

Ordinary A of £ 1 each

100

100

100

100

         

10

Related party transactions

Transactions with directors

The company remunerates the directors with a salary, which are deemed to be within the normal course of business.

11

Transition to FRS 102

These are the first financial statements that comply with FRS 102 Section 1A. The company transitioned to FRS 102 on 1 April 2016. No transitional adjustments were required in equity or profit or loss for the year.