Nightjar Research Limited
Registered number: 12044905
Statement of Financial Position
as at 30 June 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 2,628 1,459
Current assets
Debtors 4 4,182 16,745
Cash at bank and in hand 24,928 30,142
29,110 46,887
Creditors: amounts falling due within one year 5 (31,052) (48,236)
Net current liabilities (1,942) (1,349)
Total assets less current liabilities 686 110
Provisions for liabilities (499) -
Net assets 187 110
Capital and reserves
Called up share capital 100 100
Profit and loss account 87 10
Shareholder's funds 187 110
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Coward
Director
Approved by the board on 15 August 2022
Nightjar Research Limited
Notes to the Accounts
for the year ended 30 June 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2021 1,946
Additions 2,046
At 30 June 2022 3,992
Depreciation
At 1 July 2021 487
Charge for the year 877
At 30 June 2022 1,364
Net book value
At 30 June 2022 2,628
At 30 June 2021 1,459
4 Debtors 2022 2021
£ £
Trade debtors 4,140 16,680
Prepayments 42 -
Other debtors - 65
4,182 16,745
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 191 713
Accruals 1,229 970
Corporation tax 9,029 13,152
Other taxes and social security costs 3,620 7,578
Other creditors 16,983 25,823
31,052 48,236
6 Other information
Nightjar Research Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Bell Yard
London
WC2A 2JR
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