Registration number:
Nirvana Brands Worldwide Ltd
for the Year Ended 31 March 2023
Nirvana Brands Worldwide Ltd
Contents
Company Information |
|
Abridged Balance Sheet |
|
Notes to the Abridged Financial Statements |
Nirvana Brands Worldwide Ltd
Company Information
Directors |
Mr D B Mehta Mr A D Mehta Ms N D Mehta |
Registered office |
|
Auditors |
|
Nirvana Brands Worldwide Ltd
(Registration number: 13552578)
Abridged Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Capital redemption reserve |
3,959,445 |
1,940,183 |
|
Retained earnings |
(7,611) |
- |
|
Shareholders' funds |
3,951,934 |
1,940,283 |
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.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Nirvana Brands Worldwide Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged 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.
Going concern
The financial statements have been prepared on a going concern basis.
The forecasts prepared by the management indicate that the Company will require the support of its fellow group companies in order to continue to trade. The support may be either in the form of deferred payment terms in relation to repayment of group borrowings or additional loans made to the Company.
Given the current level of cash resources these indicate that the Company will be able to continue to trade in the future, under the various business scenarios, however it will be reliant on the support of the other companies in the group.
The group companies have indicated that they will provide the support as necessary. Accordingly, the directors have prepared the financial statements on a going concern basis.
Audit report
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Nirvana Brands Worldwide Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 March 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Other debtors represent amounts that are refundable to the company.
Trade debtors and other debtors are recognised initially at the transaction price or amount advanced. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
Debtors includes £3,648,117 (2022 - £1,769,729) due after more than one year.
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |