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REGISTERED NUMBER: 06124100 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Nitros Limited

Nitros Limited (Registered number: 06124100)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Nitros Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr S L Lupu





SECRETARY: Mrs R Lupu





REGISTERED OFFICE: 83 The Greenway
London
NW9 5AR





REGISTERED NUMBER: 06124100 (England and Wales)





ACCOUNTANTS: E Johnson & Associates
Chartered Certified Accountants
637 Green Lanes
London
N8 0RE

Nitros Limited (Registered number: 06124100)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,493 22,181

CURRENT ASSETS
Stocks 5 7,860 2,108
Debtors 6 6,636 34,877
Cash at bank 70,381 90,883
84,877 127,868
CREDITORS
Amounts falling due within one
year

7

110,613

134,068
NET CURRENT LIABILITIES (25,736 ) (6,200 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,757

15,981

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 16,755 15,979
SHAREHOLDERS' FUNDS 16,757 15,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2023 and were signed by:





Mr S L Lupu - Director


Nitros Limited (Registered number: 06124100)

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

1. STATUTORY INFORMATION

Nitros Limited 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Nitros Limited (Registered number: 06124100)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 6,676 43,566 774 51,016
Additions - 34,997 1,204 36,201
Disposals - (5,450 ) - (5,450 )
At 28 February 2023 6,676 73,113 1,978 81,767
DEPRECIATION
At 1 March 2022 6,545 21,704 586 28,835
Charge for year 33 13,784 348 14,165
Eliminated on disposal - (3,726 ) - (3,726 )
At 28 February 2023 6,578 31,762 934 39,274
NET BOOK VALUE
At 28 February 2023 98 41,351 1,044 42,493
At 28 February 2022 131 21,862 188 22,181

5. STOCKS
28.2.23 28.2.22
£    £   
Work-in-progress 7,860 2,108

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors - 32,292
Other debtors 6,636 2,585
6,636 34,877

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 25,478 16,420
Taxation and social security 22,914 49,055
Other creditors 62,221 68,593
110,613 134,068

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary £1 2 2

Nitros Limited (Registered number: 06124100)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. RESERVES
Retained
earnings
£   

At 1 March 2022 15,979
Profit for the year 36,776
Dividends (36,000 )
At 28 February 2023 16,755

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 (2022 - £18,000) were paid to the director .

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S L Lupu.

By virtue of being the sole director of the company and controls 50% of the ordinary share capital of the company.