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Registration number: 10017947

NIYA LTD

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 February 2023

 

NIYA LTD

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

NIYA LTD

Company Information

Directors

Mr Hani Hamidinia

Ms Behjat Hosseni

Registered office

277-279 Chiswick High Road
London
W4 4PU

Accountants

Flintham Mackenzie
Chartered Accountants
277 - 279 Chiswick High Road
London
W4 4PU

 

NIYA LTD

(Registration number: 10017947)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

28,431

35,538

Current assets

 

Debtors

6,389

6,391

Cash at bank and in hand

 

1,152

1,152

 

7,541

7,543

Creditors: Amounts falling due within one year

(705,928)

(689,710)

Net current liabilities

 

(698,387)

(682,167)

Total assets less current liabilities

 

(669,956)

(646,629)

Accruals and deferred income

 

(550)

(700)

Net liabilities

 

(670,506)

(647,329)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(670,606)

(647,429)

Shareholders' deficit

 

(670,506)

(647,329)

For the financial year ending 28 February 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 24 November 2023 and signed on its behalf by:
 

 

NIYA LTD

(Registration number: 10017947)
Abridged Balance Sheet as at 28 February 2023

.........................................
Mr Hani Hamidinia
Director

 

NIYA LTD

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
277-279 Chiswick High Road
London
W4 4PU

These financial statements were authorised for issue by the Board on 24 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

33% on cost

 

NIYA LTD

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

Fixture and fitting

25% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

evenly over its estimated useful life of 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

NIYA LTD

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

4

Intangible assets

Total
£

Cost or valuation

At 1 March 2022

71,077

At 28 February 2023

71,077

Amortisation

At 1 March 2022

35,539

Amortisation charge

7,107

At 28 February 2023

42,646

Carrying amount

At 28 February 2023

28,431

At 28 February 2022

35,538

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2022

157,170

13,443

170,613

At 28 February 2023

157,170

13,443

170,613

Depreciation

At 1 March 2022

157,170

13,443

170,613

At 28 February 2023

157,170

13,443

170,613

Carrying amount

At 28 February 2023

-

-

-