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REGISTERED NUMBER: SC202578 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Naver Limited

Naver Limited (Registered number: SC202578)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Naver Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D D McGillivray
W J McGillivray





REGISTERED OFFICE: Naver House
Naver Road
Thurso
Caithness
KW14 7QA





REGISTERED NUMBER: SC202578 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

Naver Limited (Registered number: SC202578)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,366 1,795
Investments 5 18,000 18,000
20,366 19,795

CURRENT ASSETS
Debtors 6 4,023 2,047
Cash at bank and in hand 5,731 5,211
9,754 7,258
CREDITORS
Amounts falling due within one year 7 (13,001 ) (8,664 )
NET CURRENT LIABILITIES (3,247 ) (1,406 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,119

18,389

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,019 18,289
SHAREHOLDERS' FUNDS 17,119 18,389

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Naver Limited (Registered number: SC202578)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





D D McGillivray - Director


Naver Limited (Registered number: SC202578)

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

1. STATUTORY INFORMATION

Naver Limited is a private company, limited by shares , registered in Scotland. 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
Tangible fixed assets are originally recorded at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Tenant's improvementsstraight line over 21 years
Plant25% reducing balance
Office equipment25% reducing balance
Fixtures and fittings25% reducing balance

INVESTMENTS IN ASSOCIATES
Investments in associate undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Naver Limited (Registered number: SC202578)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Tenant's Plant and and Office
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 322,125 1,700 69,451 71,993 465,269
Additions - - - 1,639 1,639
Disposals - - (760 ) (2,878 ) (3,638 )
At 31 March 2023 322,125 1,700 68,691 70,754 463,270
DEPRECIATION
At 1 April 2022 321,912 1,700 68,168 71,694 463,474
Charge for year 213 - 319 469 1,001
Eliminated on disposal - - (757 ) (2,814 ) (3,571 )
At 31 March 2023 322,125 1,700 67,730 69,349 460,904
NET BOOK VALUE
At 31 March 2023 - - 961 1,405 2,366
At 31 March 2022 213 - 1,283 299 1,795

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2022
and 31 March 2023 18,000
NET BOOK VALUE
At 31 March 2023 18,000
At 31 March 2022 18,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,584 1,503
Amounts owed by group undertakings - 105
Other debtors 439 439
4,023 2,047

Naver Limited (Registered number: SC202578)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,619 1,629
Amounts owed to group undertakings 4,431 -
Corporation tax 764 3,467
Social security and other taxes 1,590 2,790
Other creditors 2,597 778
13,001 8,664

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D D McGillivray.