REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2022 |
for |
Narishige International Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2022 |
for |
Narishige International Limited |
Narishige International Limited (Registered number: 02887537) |
Contents of the Financial Statements |
for the Year Ended 28 February 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Narishige International Limited |
Company Information |
for the Year Ended 28 February 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Narishige International Limited (Registered number: 02887537) |
Balance Sheet |
28 February 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Narishige International Limited (Registered number: 02887537) |
Balance Sheet - continued |
28 February 2022 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Narishige International Limited (Registered number: 02887537) |
Notes to the Financial Statements |
for the Year Ended 28 February 2022 |
1. | STATUTORY INFORMATION |
The company is a private company, limited by shares and registered in England and Wales. Its registered number is 02887537 and its registered office is at Unit 7, Willow Business Park, Willow Way, London SE26 4QP. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Revenue, described as turnover, represents the value of goods (net of VAT) provided to customers during the year. Revenue is recognised when the goods are delivered and title has passed. |
Tangible fixed assets |
Improvements to property | - |
Fixtures, fittings & equipment | - |
Stocks |
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the stock to its present location and condition. A "first in first out" basis is used. |
Financial instruments |
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. In the opinion of the directors, there are no advanced financial instruments. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Foreign currencies |
Transactions denominated in foreign currencies are initially recorded at the rate of exchange as at the date of the transaction. Year end assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date, with exchange differences included in arriving at the profit before tax. |
Narishige International Limited (Registered number: 02887537) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
2. | ACCOUNTING POLICIES - continued |
Leased assets |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs |
The company operates a defined contribution scheme. The assets of the scheme are held separately from the company in an independently administered fund.The pension costs charge represents contributions payable for the period by the company to the fund. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures, |
to | fittings |
property | & equipment | Totals |
£ | £ | £ |
COST |
At 1 March 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 28 February 2022 |
DEPRECIATION |
At 1 March 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 28 February 2022 |
NET BOOK VALUE |
At 28 February 2022 |
At 28 February 2021 |
Narishige International Limited (Registered number: 02887537) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under finance leases are as follows: |
Fixtures, |
fittings |
& equipment |
£ |
COST |
At 1 March 2021 |
Transfer to ownership | (8,982 | ) |
At 28 February 2022 |
DEPRECIATION |
At 1 March 2021 |
Charge for year |
Transfer to ownership | (8,982 | ) |
At 28 February 2022 |
NET BOOK VALUE |
At 28 February 2022 |
At 28 February 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Finance leases (see note 7) |
Trade creditors |
Taxation and social security |
Other creditors |
Narishige International Limited (Registered number: 02887537) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
7. | LEASING AGREEMENTS |
Minimum lease payments under finance leases fall due as follows: |
Finance leases |
2022 | 2021 |
£ | £ |
Gross obligations repayable: |
Within one year |
Finance charges repayable: |
Within one year |
Net obligations repayable: |
Within one year |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Finance leases | 905 | 2,026 |
Obligations under high purchase and finance lease contracts are secured against the assets being financed. |
9. | GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
The company had total guarantees and commitments at the year end of £3,001 (2021: £2,832). |