Registration number:
NSK Limited
for the Year Ended 31 March 2022
NSK Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
NSK Limited
Company Information
Directors |
Mr KA Patel Dr S D Kaura Dr S Patel Mrs SK Patel |
Registered office |
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Accountants |
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NSK Limited
(Registration number: 00943387)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
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Fixed Assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Fair value reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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
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NSK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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.
The financial statements are presented in Pound Sterling, which is the functional currency of the company.
Revenue recognition
Turnover shown in the profit and loss represents amounts invoiced during the year.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
NSK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investment property
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2022 |
2021 |
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At 1 April |
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Additions |
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Disposals |
( |
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Fair value adjustments |
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- |
At 31 March |
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The directors are of the opinion that the cost of the property including the improvements costs incurred represents the fair value of the property as at 31 March 2022.
There has been no valuation of investment property by an independent valuer.
The historical cost of the investment including improvements is £168,352. The depreciation on this historical cost is £nil.
NSK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Debtors |
2022 |
2021 |
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Prepayments and accrued income |
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Other debtors |
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Loans to related parties |
3,769 |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Trade creditors |
( |
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Accruals and deferred income |
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Taxation and social security |
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Amounts due to related parties |
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26,231 |
Other creditors |
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Corporation tax |
7,275 |
9,563 |
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Related party transactions |
Summary of transactions with other related parties
Mr KA Patel and Mrs SK Patel
(Directors and Shareholders)
Dividends amounting to £2,000 each were paid to Mr KA Patel and Mrs SK Patel during the year.
At the balance sheet date the total amount due to / (from) Mr KA Patel and Mrs SK Patel was (£3,769) (2021 - £26,231)