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Registration number: 10600348

NAFS Health Consultancy & Training Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

NAFS Health Consultancy & Training Ltd

(Registration number: 10600348)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

16,196

-

Tangible assets

5

16,310

19,843

 

32,506

19,843

Current assets

 

Debtors

6

306,311

178,904

Cash at bank and in hand

 

341,142

175,299

 

647,453

354,203

Creditors: Amounts falling due within one year

7

(160,222)

(88,861)

Net current assets

 

487,231

265,342

Net assets

 

519,737

285,185

Capital and reserves

 

Called up share capital

8

20

20

Retained earnings

519,717

285,165

Shareholders' funds

 

519,737

285,185

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

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 10 November 2023 and signed on its behalf by:
 

.........................................
Dr Mukhtar Nasir
Director

 

NAFS Health Consultancy & Training Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
Northgate Business Centre
2 Northgate Avenue
Bury St Edmunds
IP32 6BB

These financial statements were authorised for issue by the Board on 10 November 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 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 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.

Revenue recognition

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.

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.

 

NAFS Health Consultancy & Training Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line on cost

Fixtures and fittings

15% straight line on cost

Office equipment

20% straight line on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Trade debtors

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

Trade 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.

Trade creditors

Trade 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 after the reporting date, they are presented as non-current liabilities.

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

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.

 

NAFS Health Consultancy & Training Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

NAFS Health Consultancy & Training Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions internally developed

4,439

4,439

Additions acquired separately

11,757

11,757

At 28 February 2023

16,196

16,196

Amortisation

Carrying amount

At 28 February 2023

16,196

16,196

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2022

6,312

4,713

10,535

21,560

Additions

135

-

400

535

Transfers

-

(688)

688

-

At 28 February 2023

6,447

4,025

11,623

22,095

Depreciation

At 1 March 2022

232

10

1,475

1,717

Charge for the year

966

753

2,349

4,068

At 28 February 2023

1,198

763

3,824

5,785

Carrying amount

At 28 February 2023

5,249

3,262

7,799

16,310

At 28 February 2022

6,080

4,703

9,060

19,843

 

NAFS Health Consultancy & Training Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

293,330

167,306

Prepayments

3,146

4,960

Other debtors

9,835

6,638

 

306,311

178,904

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

74,811

30,026

Taxation and social security

74,661

50,470

Accruals and deferred income

10,610

8,365

Other creditors

140

-

160,222

88,861

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.10 each

200

20

200

20