Silverfin false 31/05/2023 01/06/2022 31/05/2023 Mr C Gatenby 07/05/2013 10 October 2023 The principal activity of the Company during the financial year was that of consultancy. 08517421 2023-05-31 08517421 bus:Director1 2023-05-31 08517421 2022-05-31 08517421 core:CurrentFinancialInstruments 2023-05-31 08517421 core:CurrentFinancialInstruments 2022-05-31 08517421 core:ShareCapital 2023-05-31 08517421 core:ShareCapital 2022-05-31 08517421 core:RetainedEarningsAccumulatedLosses 2023-05-31 08517421 core:RetainedEarningsAccumulatedLosses 2022-05-31 08517421 core:PlantMachinery 2022-05-31 08517421 core:FurnitureFittings 2022-05-31 08517421 core:OfficeEquipment 2022-05-31 08517421 core:PlantMachinery 2023-05-31 08517421 core:FurnitureFittings 2023-05-31 08517421 core:OfficeEquipment 2023-05-31 08517421 core:CostValuation 2022-05-31 08517421 core:AdditionsToInvestments 2023-05-31 08517421 core:CostValuation 2023-05-31 08517421 core:ProvisionsForImpairmentInvestments 2022-05-31 08517421 core:ProvisionsForImpairmentInvestments 2023-05-31 08517421 bus:OrdinaryShareClass1 2023-05-31 08517421 bus:OrdinaryShareClass2 2023-05-31 08517421 2022-06-01 2023-05-31 08517421 bus:FullAccounts 2022-06-01 2023-05-31 08517421 bus:SmallEntities 2022-06-01 2023-05-31 08517421 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 08517421 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08517421 bus:Director1 2022-06-01 2023-05-31 08517421 core:PlantMachinery core:TopRangeValue 2022-06-01 2023-05-31 08517421 core:FurnitureFittings core:TopRangeValue 2022-06-01 2023-05-31 08517421 core:OfficeEquipment core:TopRangeValue 2022-06-01 2023-05-31 08517421 2021-06-01 2022-05-31 08517421 core:PlantMachinery 2022-06-01 2023-05-31 08517421 core:FurnitureFittings 2022-06-01 2023-05-31 08517421 core:OfficeEquipment 2022-06-01 2023-05-31 08517421 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 08517421 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 08517421 bus:OrdinaryShareClass2 2022-06-01 2023-05-31 08517421 bus:OrdinaryShareClass2 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08517421 (England and Wales)

NAKARA LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

NAKARA LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

NAKARA LIMITED

BALANCE SHEET

As at 31 May 2023
NAKARA LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 27,339 3,606
Investments 4 46,003 5,004
73,342 8,610
Current assets
Debtors 5 1,167 9,290
Cash at bank and in hand 220,848 87,507
222,015 96,797
Creditors: amounts falling due within one year 6 ( 124,365) ( 34,143)
Net current assets 97,650 62,654
Total assets less current liabilities 170,992 71,264
Provision for liabilities ( 6,835) ( 902)
Net assets 164,157 70,362
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 164,155 70,360
Total shareholder's funds 164,157 70,362

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Nakara Limited (registered number: 08517421) were approved and authorised for issue by the Director on 10 October 2023. They were signed on its behalf by:

Mr C Gatenby
Director
NAKARA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
NAKARA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Nakara Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp North Quay House, Sutton Harbour, Plymouth, PL4 0RA, United Kingdom. The principal place of business is 3 St Andrews Road, Tavistock, Devon, PL19 9BY.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 June 2022 4,070 13,667 0 17,737
Additions 15,092 5,839 6,455 27,386
At 31 May 2023 19,162 19,506 6,455 45,123
Accumulated depreciation
At 01 June 2022 4,068 10,063 0 14,131
Charge for the financial year 1,547 1,619 487 3,653
At 31 May 2023 5,615 11,682 487 17,784
Net book value
At 31 May 2023 13,547 7,824 5,968 27,339
At 31 May 2022 2 3,604 0 3,606

4. Fixed asset investments

Investments in associates Total
£ £
Carrying value before impairment
At 01 June 2022 5,004 5,004
Additions 40,999 40,999
At 31 May 2023 46,003 46,003
Provisions for impairment
At 01 June 2022 0 0
At 31 May 2023 0 0
Carrying value at 31 May 2023 46,003 46,003
Carrying value at 31 May 2022 5,004 5,004

5. Debtors

2023 2022
£ £
Trade debtors 778 8,757
Other debtors 389 533
1,167 9,290

6. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 39,044 21,844
Other taxation and social security 4,236 4,384
Other creditors 81,085 7,915
124,365 34,143

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1
1 Ordinary A share of £ 1.00 1 1
2 2