2 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-03-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 13947391 2022-03-01 2023-03-31 13947391 2023-03-31 13947391 bus:OrdinaryShareClass1 2022-03-01 2023-03-31 13947391 bus:OrdinaryShareClass2 2022-03-01 2023-03-31 13947391 bus:OrdinaryShareClass3 2022-03-01 2023-03-31 13947391 bus:OrdinaryShareClass4 2022-03-01 2023-03-31 13947391 bus:OrdinaryShareClass5 2022-03-01 2023-03-31 13947391 bus:Director1 2022-03-01 2023-03-31 13947391 core:WithinOneYear 2023-03-31 13947391 core:ShareCapital 2023-03-31 13947391 core:RetainedEarningsAccumulatedLosses 2023-03-31 13947391 bus:OrdinaryShareClass1 core:ShareCapital 2023-03-31 13947391 bus:OrdinaryShareClass2 core:ShareCapital 2023-03-31 13947391 bus:OrdinaryShareClass3 core:ShareCapital 2023-03-31 13947391 bus:OrdinaryShareClass4 core:ShareCapital 2023-03-31 13947391 bus:OrdinaryShareClass5 core:ShareCapital 2023-03-31 13947391 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 13947391 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 13947391 core:Non-currentFinancialInstruments 2023-03-31 13947391 bus:SmallEntities 2022-03-01 2023-03-31 13947391 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-03-31 13947391 bus:FullAccounts 2022-03-01 2023-03-31 13947391 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-03-31 13947391 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-03-31
Company registration number: 13947391
Nalo Investments Limited
Unaudited filleted financial statements
31 March 2023
Nalo Investments Limited
Contents
Statement of financial position
Notes to the financial statements
Nalo Investments Limited
Statement of financial position
31 March 2023
31/03/23
Note £ £
Fixed assets
Investments 5 549,094
_______
549,094
Current assets
Debtors 6 10,862
Cash at bank and in hand 2,447,618
_______
2,458,480
Creditors: amounts falling due
within one year 7 ( 3,008,287)
_______
Net current liabilities ( 549,807)
_______
Total assets less current liabilities ( 713)
_______
Net liabilities ( 713)
_______
Capital and reserves
Called up share capital 8 5
Profit and loss account ( 718)
_______
Shareholders deficit ( 713)
_______
For the period ending 31 March 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 November 2023 , and are signed on behalf of the board by:
A S Visram
Director
Company registration number: 13947391
Nalo Investments Limited
Notes to the financial statements
Period ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Elm Road, East Sheen, London, SW14 7JL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the period amounted to 2
The aggregate payroll costs incurred during the period were:
Period
ended
31/03/23
£
Other pension costs 9,000
_______
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 March 2022 - -
Additions 573,139 573,139
Fair value adjustment (24,045) (24,045)
_______ _______
At 31 March 2023 549,094 549,094
_______ _______
Impairment
At 1 March 2022 and 31 March 2023 - -
_______ _______
Carrying amount
At 31 March 2023 549,094 549,094
_______ _______
6. Debtors
31/03/23
£
Other debtors 10,862
_______
7. Creditors: amounts falling due within one year
31/03/23
£
Other loans 3,000,000
Corporation tax 5,364
Other creditors 2,923
_______
3,008,287
_______
The loan is repayable on demand. Interest will be due at 2.5% above the Bank of England base rate only following a request for payment by the lenders.
8. Called up share capital
Issued, called up and fully paid
31/03/23
No £
Ordinary A Shares shares of £ 0.01 each 100 1
Ordinary B Shares shares of £ 0.01 each 100 1
Ordinary C Shares shares of £ 0.01 each 100 1
Ordinary D Shares shares of £ 0.01 each 100 1
Ordinary E Shares shares of £ 0.01 each 100 1
_______ _______
500 5
_______ _______
9. Directors advances, credits and guarantees
There were no directors' advances, credits or guarantees in the year.