Navig8 Limited Accounts






Navig8 Limited
	Company No. 04704135
		Information for Filing with The Registrar
		31 May 2018

The Director presents his report and the accounts for the year ended 31 May 2018.

Principal activities
The principal activity of the company during the year under review was graphic design services.




Director

The Director who served at any time during the year was as follows:

D. De Soto



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

D. De Soto
Director
27 February 2019

at	31 May 2018
Company No.		04704135	Notes	2018	2017
				£	£
Fixed assets
	Intangible assets		2	-	-
	Tangible assets		3	5,065	2,785


				5,065	2,785
Current assets

	Debtors		4	270,712	206,663

	Cash at bank and in hand			262,876	370,457
				533,588	577,120
Creditors: Amount falling due within one year			5	(74,582)	(56,349)
Net current assets				459,006	520,771
Total assets less current liabilities				464,071	523,556

Provisions for liabilities
	Deferred taxation		6	(962)	(718)

Net assets				463,109	522,838

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		7	463,108	522,837

Total equity				463,109	522,838


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 May 2018 the company was entitled to exemption 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 27 February 2019
And signed on its behalf by:
D. De Soto
Director

for the year ended 31 May 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

25% Reducing balance

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost
		At 1 June 2017	150,000	150,000


		At 31 May 2018	150,000	150,000
		Amortisation and impairment
		At 1 June 2017	150,000	150,000



		At 31 May 2018	150,000	150,000
		Net book values
		At 31 May 2018	-	-
		At 31 May 2017	-	-

3	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 June 2017	36,247	36,247
		Additions	3,969	3,969



		At 31 May 2018	40,216	40,216
		Depreciation
		At 1 June 2017	33,462	33,462
		Charge for the year	1,689	1,689



		At 31 May 2018	35,151	35,151
		Net book values
		At 31 May 2018	5,065	5,065
		At 31 May 2017	2,785	2,785

4	Debtors
			2018	2017
			£	£
		Trade debtors	75,467	56,645

		Corporation tax recoverable	96,148	36,796


		Loans to directors	95,951	113,222

		Prepayments and accrued income	3,146	-
			270,712	206,663

5	Creditors:
		amounts falling due within one year
			2018	2017
			£	£




		Trade creditors	28,490	9,241

		Corporation tax	-	13,546
		Other taxes and social security	39,142	28,060


		Accruals and deferred income	6,950	5,502
			74,582	56,349

6	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 June 2017	718	718
		Charge to the profit and loss account for the period	244	244

		At 31 May 2018	962	962

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

8	Dividends
			2018	2017
			£	£
		Dividends for the period:
		Dividends paid in the period	100,000	80,128

			100,000	80,128

		Dividends by type:

		Equity dividends	100,000	80,128
			100,000	80,128

Related party disclosures

Controlling party

Immediate controlling party

D De Soto

Additional information

Its registered number is:

04704135

Its registered office is:

The Gallery

6 Charlotte Place

Fitzrovia

London

W1T 1SG