Company Registration No. 12117119 (England and Wales)
NUTRIBURST LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
NUTRIBURST LTD
COMPANY INFORMATION
Directors
Mrs Simran Kanwar
Ms Iman Lamise Saleem Ghalia
Secretary
Vistra Cosec Limited
Company number
12117119
Registered office
Suite 1, 7th Floor
50 Broadway
London
SW1H 0BL
Accountants
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
NUTRIBURST LTD
CONTENTS
Page
Accountants' report
1
Profit and loss account
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 10
NUTRIBURST LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NUTRIBURST LTD FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The following reproduces text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited financial statements set out on pages 3 to 10 have been extracted.

"In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nutriburst Ltd for the year ended 31 March 2023 set out on pages 3 to 11 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

Our work has been undertaken solely to prepare for your approval the financial statements of Nutriburst Ltd and state those matters that we have agreed to state to the Board of Directors of Nutriburst Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nutriburst Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nutriburst Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Nutriburst Ltd. You consider that Nutriburst Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nutriburst Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

 

 

John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
"
23 November 2023
NUTRIBURST LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
2023
2022
Notes
£
£
Turnover
584,058
483,848
Cost of sales
(251,044)
(152,763)
Gross profit
333,014
331,085
Administrative expenses
(510,788)
(699,728)
Other operating income
68,541
61,952
Loss before taxation
(109,233)
(306,691)
Taxation
4
35
(113,156)
Loss for the financial year
(109,198)
(419,847)
NUTRIBURST LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 3 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
433
619
Current assets
Stocks
24,911
42,700
Debtors
6
112,952
81,092
Cash at bank and in hand
32,396
55,274
170,259
179,066
Creditors: amounts falling due within one year
7
(82,996)
(78,755)
Net current assets
87,263
100,311
Total assets less current liabilities
87,696
100,930
Creditors: amounts falling due after more than one year
8
(264,900)
(314,900)
Provisions for liabilities
9
(82)
(118)
Net liabilities
(177,286)
(214,088)
Capital and reserves
Called up share capital
11
836,100
690,100
Profit and loss reserves
13
(1,013,386)
(904,188)
Total equity
(177,286)
(214,088)

The directors of the company have taken advantage under section 444 of the Companies Act 2006 to not deliver a copy of the directors' report within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

NUTRIBURST LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 19 November 2023 and are signed on its behalf by:
Mrs Simran Kanwar
Director
Company Registration No. 12117119
NUTRIBURST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
1
Accounting policies
Company information

Nutriburst Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements are prepared on the going concern basis as Triumph Holding KFT, the parent company has agreed to provide financial support to the company in order that it can continue to trade and meet its liabilities as they fall due. This support will continue for a period of at least 12 months from the date of approval of these financial statements.

1.3
Turnover

Turnover represents amounts receivable for sale of multivitamin supplements net of VAT and trade discounts.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% per annum on a straight line method
1.5
Stocks

Stocks are valued at the lower of cost and net realisable value. Where necessary, provision is made for obsolete, slow moving and defective stocks.

1.6
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, trade and other creditors, amounts due to parent undertaking and other long-term loans.

 

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle the liability simultaneously.

NUTRIBURST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, amounts due to parent undertaking and other long-term loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year.

1.7
Taxation

The tax represents the sum of the deferred tax movements during the period.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NUTRIBURST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
5
3
Directors' remuneration
2023
2022
£
£
Remuneration paid to directors
-
0
35,027

Ms Iman Lamise Saleem Ghalia was the highest paid director during last year.

 

4
Taxation
2023
2022
£
£
Deferred tax
Origination and reversal of timing differences
(35)
(141)
Adjustment in respect of prior periods
-
0
113,297
Total deferred tax
(35)
113,156

The company has tax losses of £1,011,487 (2022 : £903,070).

 

The deferred tax asset of £252,872 (2022 : £225,768) has not been recognised on the grounds that the recoverability of the asset is relatively uncertain based on the management expectations that it will take some time for the tax losses to be relieved.

 

NUTRIBURST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
745
Depreciation and impairment
At 1 April 2022
126
Depreciation charged in the year
186
At 31 March 2023
312
Carrying amount
At 31 March 2023
433
At 31 March 2022
619
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
79,016
23,557
Other debtors
33,936
57,535
112,952
81,092

Other debtors include the advance payment to the suppliers of £32,226 (2022 : £50,361).

 

 

7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
50,913
43,809
Amounts due to group undertakings (Note 14)
25,000
26,000
Taxation and social security
1,720
2,506
Other creditors
5,363
6,440
82,996
78,755
NUTRIBURST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Long-term loans - Mr Neeraj Kanwar (Note 14)
214,900
214,900
Long-term loans - Ms Iman Lamise Saleem Ghalia (Director) (Note 14)
50,000
100,000
264,900
314,900
9
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
10
82
118
10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
82
118
2023
Movements in the year:
£
Liability at 1 April 2022
118
Credit to profit or loss
(36)
Net liability at 31 March 2023
82
11
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
836,100
690,100
836,100
690,100

During the year, the company increased its paid up share capital to £836,100 by issuing 146,000 ordinary shares of £1 each to parent company, Triumph Holding KFT.

 

NUTRIBURST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
12
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
848
3,458

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

 

13
Reserves

The only movement in reserves for the year ended 31 March 2023 and 31 March 2022 are loss for the years.

14
Related party transactions

Company has received an interest free loan of £214,900 (2022 : £214,900) from Mr Neeraj Kanwar, person with significant control of the company which is payable after more than one year.

 

At the balance sheet date, the loan amount of £50,000 (2022 : £100,000) payable to the director, Ms Iman Lamise Saleem Ghalia. Company has repaid the £50,000 loan during the year which was received £100,000 in total on 03 November 2020. The loan is unsecured and subordinated in favour of all creditors to the company.

 

Amount due to group undertakings is convertible loan (convertible into equity) of £25,000 (2022 - £26,000) from the parent company, Triumph Holding KFT. and the loan is unsecured and interest free. Loan of £25,000 was converted into equity on 11 July 2023.

15
Parent company

The company's ultimate parent undertaking at the balance sheet date was Triumph Holding KFT., a company registered in Hungary.

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