Nirvana Brands Worldwide Ltd 13552578 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the trading in brands and licences related to perfumes and cosmetics. Digita Accounts Production Advanced 6.30.9574.0 true true 13552578 2022-04-01 2023-03-31 13552578 2023-03-31 13552578 bus:OrdinaryShareClass1 2023-03-31 13552578 core:CurrentFinancialInstruments 2023-03-31 13552578 bus:SmallEntities 2022-04-01 2023-03-31 13552578 bus:Audited 2022-04-01 2023-03-31 13552578 bus:AbridgedAccounts 2022-04-01 2023-03-31 13552578 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 13552578 bus:RegisteredOffice 2022-04-01 2023-03-31 13552578 bus:Director1 2022-04-01 2023-03-31 13552578 bus:Director2 2022-04-01 2023-03-31 13552578 bus:Director3 2022-04-01 2023-03-31 13552578 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 13552578 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13552578 countries:EnglandWales 2022-04-01 2023-03-31 13552578 2021-08-06 2022-03-31 13552578 2022-03-31 13552578 bus:OrdinaryShareClass1 2022-03-31 13552578 core:CurrentFinancialInstruments 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13552578

Nirvana Brands Worldwide Ltd

Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

Nirvana Brands Worldwide Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Abridged Financial Statements

3 to 4

 

Nirvana Brands Worldwide Ltd

Company Information

Directors

Mr D B Mehta

Mr A D Mehta

Ms N D Mehta

Registered office

Amertrans Park
Bushey Mill Lane
Watford
Hertfordshire
WD24 7JG

Auditors

Cameron & Associates Limited
The Hour House
32 High Street
Rickmansworth
Hertfordshire
WD3 1ER

 

Nirvana Brands Worldwide Ltd

(Registration number: 13552578)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

3,951,834

1,809,601

Cash at bank and in hand

 

100

130,682

 

3,951,934

1,940,283

Capital and reserves

 

Called up share capital

5

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 Board on 9 October 2023 and signed on its behalf by:
 

.........................................
Mr D B Mehta
Director

 

Nirvana Brands Worldwide Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Amertrans Park
Bushey Mill Lane
Watford
Hertfordshire
WD24 7JG

These financial statements were authorised for issue by the Board on 9 October 2023.

2

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
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 9 October 2023 was Rajinder Basra, who signed for and on behalf of Cameron & Associates Limited.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Debtors

Debtors includes £3,648,117 (2022 - £1,769,729) due after more than one year.

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100