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Unaudited Financial Statements |
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for the Year Ended 30 April 2017 |
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for |
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N & D Financial Services Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2017 |
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for |
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N & D Financial Services Ltd |
N & D Financial Services Ltd (Registered number: 09530835) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2017 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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N & D Financial Services Ltd |
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Company Information |
for the Year Ended 30 April 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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14a Waterside Business Park |
Livingstone Road |
Hessle |
East Yorkshire |
HU13 0EG |
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BANKERS: |
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2138 Coventry Road |
Sheldon |
Birmingham |
B26 3JW |
N & D Financial Services Ltd (Registered number: 09530835) |
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Abridged Balance Sheet |
30 April 2017 |
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30.4.17 | 30.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
N & D Financial Services Ltd (Registered number: 09530835) |
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Abridged Balance Sheet - continued |
30 April 2017 |
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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 on
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N & D Financial Services Ltd (Registered number: 09530835) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2017 |
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1. | STATUTORY INFORMATION |
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N & D Financial Services Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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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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Turnover |
Turnover represents the net invoiced sales of goods and services, excluding value added tax. |
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Revenue Recognition |
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company |
receives a right to consideration from its performance. |
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Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on |
their fair value of the right to consideration at the balance sheet date. The value is included in debtors as |
Amounts Recoverable on Contracts. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the |
recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where |
it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount |
of the cash-generating unit to which the asset belongs. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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N & D Financial Services Ltd (Registered number: 09530835) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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 year end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
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Going concern |
Despite the company having net liabilities on the balance sheet of £7,755 (2016 - £10,443) the director expects |
the company to make profits in the future. |
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The director, having made due and careful enquiry, is of the opinion that the company has adequate working |
capital to execute its operations for the next 12 months as they have the continued support of its shareholders. |
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The director therefore has made an informed judgement, at the time of approving the financial statements, that |
there is reasonable expectation that the company has adequate resources to continue in operational existence for |
the foreseeable future. As a result the director has continued to adopt the going concern basis of accounting in |
preparing the annual financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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AMORTISATION |
At 1 May 2016 |
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Amortisation for year |
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At 30 April 2017 |
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NET BOOK VALUE |
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At 30 April 2017 |
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At 30 April 2016 |
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N & D Financial Services Ltd (Registered number: 09530835) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.17 | 30.4.16 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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Ordinary | £1 | 1 | - |
101 | 100 |
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7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the year ended 30 April 2017 and the period |
ended 30 April 2016: |
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30.4.17 | 30.4.16 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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8. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £26,100 were paid to the director . |
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9. | ULTIMATE CONTROLLING PARTY |
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The Company is controlled by the director. |
N & D Financial Services Ltd (Registered number: 09530835) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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10. | FIRST YEAR ADOPTION |
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On transition to FRS102 the company has taken advantage of the following transitional relief: |
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- Not to disclose the reconciliation of equity and profit and loss due to no subsequent changes. |
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- Not to include immaterial employee benefits accruing at the balance sheet date. |