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Unaudited Financial Statements |
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for the Year Ended 31 December 2020 |
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for |
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CHOICE OF NATURE LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2020 |
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for |
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CHOICE OF NATURE LIMITED |
CHOICE OF NATURE LIMITED (REGISTERED NUMBER: 03187475) |
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Contents of the Financial Statements |
for the year ended 31 December 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
CHOICE OF NATURE LIMITED |
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Company Information |
for the year ended 31 December 2020 |
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Director: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
CHOICE OF NATURE LIMITED (REGISTERED NUMBER: 03187475) |
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Balance Sheet |
31 December 2020 |
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2020 | 2019 |
Notes | £ | £ |
Current assets |
Stocks |
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Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
8 |
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Net assets |
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Capital and reserves |
Called up share capital | 9 |
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Retained earnings |
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Shareholders' funds |
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The director acknowledges his 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. |
CHOICE OF NATURE LIMITED (REGISTERED NUMBER: 03187475) |
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Balance Sheet - continued |
31 December 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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CHOICE OF NATURE LIMITED (REGISTERED NUMBER: 03187475) |
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Notes to the Financial Statements |
for the year ended 31 December 2020 |
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1. | Statutory information |
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Choice of Nature Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
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There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
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There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
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There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Development costs |
Development expenditure on clearly defined projects whose outcome can be assessed with reasonable certainty is capitalised and amortised over a period not exceeding five years commencing in the year the company starts to benefit from the expenditure. |
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Tangible fixed assets |
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Plant and machinery | - |
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CHOICE OF NATURE LIMITED (REGISTERED NUMBER: 03187475) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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2. | Accounting policies - continued |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
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Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
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Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
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Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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3. | Average number of employees |
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The average number of employees during the year was
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4. | Intangible fixed assets |
Development |
costs |
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Cost |
At 1 January 2020 |
and 31 December 2020 |
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Amortisation |
At 1 January 2020 |
and 31 December 2020 |
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Net book value |
At 31 December 2020 |
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At 31 December 2019 |
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CHOICE OF NATURE LIMITED (REGISTERED NUMBER: 03187475) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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5. | Tangible fixed assets |
Plant and |
machinery |
£ |
Cost |
At 1 January 2020 |
and 31 December 2020 |
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Depreciation |
At 1 January 2020 |
and 31 December 2020 |
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Net book value |
At 31 December 2020 |
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At 31 December 2019 |
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6. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | Creditors: amounts falling due after more than one year |
2020 | 2019 |
£ | £ |
Bank loans |
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CHOICE OF NATURE LIMITED (REGISTERED NUMBER: 03187475) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Choice of Nature Limited |
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The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Choice of Nature Limited for the year ended 31 December 2020 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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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. |
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This report is made solely to the director of Choice of Nature Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Choice of Nature Limited and state those matters that we have agreed to state to the director of Choice of Nature Limited 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 Choice of Nature Limited and its director for our work or for this report. |
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It is your duty to ensure that Choice of Nature 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 profit of Choice of Nature Limited. You consider that Choice of Nature Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Choice of Nature 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. |
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Chartered Accountants |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
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