Silverfin false 31/03/2023 01/04/2022 31/03/2023 Andrew Paul Wheatley 11/09/2018 25 July 2023 The principal activity of the Company during the financial year was the provision of design and display services. 11562254 2023-03-31 11562254 bus:Director1 2023-03-31 11562254 2022-03-31 11562254 core:CurrentFinancialInstruments 2023-03-31 11562254 core:CurrentFinancialInstruments 2022-03-31 11562254 core:ShareCapital 2023-03-31 11562254 core:ShareCapital 2022-03-31 11562254 core:RetainedEarningsAccumulatedLosses 2023-03-31 11562254 core:RetainedEarningsAccumulatedLosses 2022-03-31 11562254 core:OtherPropertyPlantEquipment 2022-03-31 11562254 core:OtherPropertyPlantEquipment 2023-03-31 11562254 2022-04-01 2023-03-31 11562254 bus:FullAccounts 2022-04-01 2023-03-31 11562254 bus:SmallEntities 2022-04-01 2023-03-31 11562254 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11562254 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11562254 bus:Director1 2022-04-01 2023-03-31 11562254 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 11562254 2021-04-01 2022-03-31 11562254 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 11562254 (England and Wales)

'NS+R UK' LIMITED

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

'NS+R UK' LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

'NS+R UK' LIMITED

BALANCE SHEET

As at 31 March 2023
'NS+R UK' LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 5,535 0
5,535 0
Current assets
Debtors 5 276,156 248,010
Cash at bank and in hand 614,057 577,938
890,213 825,948
Creditors: amounts falling due within one year 6 ( 426,115) ( 659,982)
Net current assets 464,098 165,966
Total assets less current liabilities 469,633 165,966
Net assets 469,633 165,966
Capital and reserves
Called-up share capital 100 100
Profit and loss account 469,533 165,866
Total shareholder's funds 469,633 165,966

For the financial year ending 31 March 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 'NS+R UK' Limited (registered number: 11562254) were approved and authorised for issue by the Director on 25 July 2023. They were signed on its behalf by:

Andrew Paul Wheatley
Director
'NS+R UK' LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
'NS+R UK' LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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 period.

General information and basis of accounting

‘NS+R UK’ 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 127 Metal Box Factory, 30 Great Guildford Street, London, England, SE1 0HS.

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.

The functional currency of ‘NS+R UK’ Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

After reviewing the company's forecasts and projections, the director has 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 in preparing its financial statements.

At the time of approval of the accounts, the UK is facing unprecedented challenges arising from the Covid-19 pandemic. Every decision that the director is currently making is based upon ensuring that the business comes through this and the director is confident that the business is currently well placed to continue successfully negotiating these unprecedented challenges.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company’s activities.

Taxation

Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in
other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investments have been affected.

Trade and other debtors

Trade and other debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months are the reporting date they are represented as non-current liabilities.

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. 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 are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

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 Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Ordinary 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,

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Specifically, judgements and estimates are used in determining the recoverability of debtors.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods

3. Employees

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

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 0 0
Additions 5,582 5,582
At 31 March 2023 5,582 5,582
Accumulated depreciation
At 01 April 2022 0 0
Charge for the financial year 47 47
At 31 March 2023 47 47
Net book value
At 31 March 2023 5,535 5,535
At 31 March 2022 0 0

5. Debtors

2023 2022
£ £
Trade debtors 229,523 221,977
Amounts owed by Group undertakings 14,361 7,348
Other debtors 32,272 18,685
276,156 248,010

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 326,218 662,511
Taxation and social security 71,564 ( 6,760)
Other creditors 28,333 4,231
426,115 659,982

7. Related party transactions

The company has taken advantage of the exemption in FRS 102 1A "Related Party Disclosures" from disclosing transactions with other members of the group.