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REGISTERED NUMBER: 10202552 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

NINCHAR OFFSHORE RECRUITMENT LTD

NINCHAR OFFSHORE RECRUITMENT LTD (REGISTERED NUMBER: 10202552)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NINCHAR OFFSHORE RECRUITMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: Mrs C R Wright
Mrs N A Farman
R D Healey
M Grapes





REGISTERED OFFICE: c/o Business World Travel Ltd
Gapton Hall Road
Gapton Hall Industrial Estate
Great Yarmouth
Norfolk
NR31 0NL





REGISTERED NUMBER: 10202552 (England and Wales)






NINCHAR OFFSHORE RECRUITMENT LTD (REGISTERED NUMBER: 10202552)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,687 2,530

CURRENT ASSETS
Debtors 5 1,084,036 942,564
Cash at bank 416,888 419,904
1,500,924 1,362,468
CREDITORS
Amounts falling due within one year 6 910,048 880,059
NET CURRENT ASSETS 590,876 482,409
TOTAL ASSETS LESS CURRENT
LIABILITIES

592,563

484,939

PROVISIONS FOR LIABILITIES 422 481
NET ASSETS 592,141 484,458

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 592,041 484,358
592,141 484,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NINCHAR OFFSHORE RECRUITMENT LTD (REGISTERED NUMBER: 10202552)

BALANCE SHEET - continued
31ST MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th October 2023 and were signed on its behalf by:




Mrs C R Wright - Director



Mrs N A Farman - Director


NINCHAR OFFSHORE RECRUITMENT LTD (REGISTERED NUMBER: 10202552)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Ninchar Offshore Recruitment Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and retained earnings.

NINCHAR OFFSHORE RECRUITMENT LTD (REGISTERED NUMBER: 10202552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

NINCHAR OFFSHORE RECRUITMENT LTD (REGISTERED NUMBER: 10202552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st June 2022
and 31st May 2023 6,806
DEPRECIATION
At 1st June 2022 4,276
Charge for year 843
At 31st May 2023 5,119
NET BOOK VALUE
At 31st May 2023 1,687
At 31st May 2022 2,530

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,084,036 928,934
Other debtors - 13,630
1,084,036 942,564

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 700,666 776,465
Taxation and social security 107,097 55,645
Other creditors 102,285 47,949
910,048 880,059

7. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the directors.