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Registered Number: 11441908
England and Wales

 

 

 

NOFTEK LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2021

End date: 31 July 2022
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts NOFTEK LTD for the year ended 31 July 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NOFTEK LTD for the year ended 31 July 2022 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of NOFTEK LTD , as a body, in accordance with the terms of our engagement letter dated 13 September 2022. Our work has been undertaken solely to prepare for your approval the accounts of NOFTEK LTD and state those matters that we have agreed to state to the Board of Directors of NOFTEK LTD, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NOFTEK LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that NOFTEK LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit NOFTEK LTD. You consider that NOFTEK LTD is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of NOFTEK LTD. 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 accounts.



....................................................
Accountell Limited
Suit 13, Stewart House
56 Longbridge Road
Barking
Essex
IG11 8RW
13 September 2022
1
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 2,558    1,774 
2,558    1,774 
Current assets      
Cash at bank and in hand 13    251 
Creditors: amount falling due within one year (5,281)   (2,806)
Net current liabilities (5,268)   (2,555)
 
Total assets less current liabilities (2,710)   (781)
Creditors: amount falling due after more than one year (840)   (437)
Net liabilities (3,550)   (1,218)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (3,551)   (1,219)
Shareholder's funds (3,550)   (1,218)
 


For the year ended 31 July 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 13 September 2022 and were signed by:


--------------------------------
Chukwuneke Ekene Okafor
Director
2
General Information
NOFTEK LTD is a private company, limited by shares, registered in England and Wales, registration number 11441908, registration address 3 The Croft, Pinner, Middlesex, HA5 5EX

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
2.

Average number of employees


Average number of employees during the year was 1 (2021 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 August 2021 3,052    3,052 
Additions 1,637    1,637 
Disposals  
At 31 July 2022 4,689    4,689 
Depreciation
At 01 August 2021 1,278    1,278 
Charge for year 853    853 
On disposals  
At 31 July 2022 2,131    2,131 
Net book values
Closing balance as at 31 July 2022 2,558    2,558 
Opening balance as at 01 August 2021 1,774    1,774 


3