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COMPANY REGISTRATION NUMBER: 05052465
Nivelle Limited
Filleted Unaudited Abridged Financial Statements
31 March 2023
Nivelle Limited
Abridged Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
95
119
Investments
6
1,462,522
1,462,522
------------
------------
1,462,617
1,462,641
Current assets
Debtors
22,409
14,426
Cash at bank and in hand
4,873
46,781
--------
--------
27,282
61,207
Creditors: amounts falling due within one year
297,311
142,890
---------
---------
Net current liabilities
270,029
81,683
------------
------------
Total assets less current liabilities
1,192,588
1,380,958
Creditors: amounts falling due after more than one year
216,263
Provisions
Taxation including deferred tax
84,600
84,600
------------
------------
Net assets
1,107,988
1,080,095
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Fair value reserve
884,727
884,727
Profit and loss account
222,261
194,368
------------
------------
Shareholders funds
1,107,988
1,080,095
------------
------------
These abridged 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 income and retained earnings has not been delivered.
For the year 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 abridged financial statements for the year 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 abridged financial statements .
Nivelle Limited
Abridged Statement of Financial Position (continued)
31 March 2023
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged 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:
J R Collins
Director
Company registration number: 05052465
Nivelle Limited
Notes to the Abridged Financial Statements
Year 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 27 Orchard Way, Haddenham, Cambridgeshire, CB6 3UT.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental of property net of Value Added Tax.
(c) Income tax
Deferred tax arises as a result of including income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current rates and laws. Deferred tax is also provided on the revaluation of fixed assets.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
20% reducing basis
(f) Investments
Investment property is included at fair value as determined by the directors. Changes in fair value are recognised in the statement of comprehensive income.
(g) Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.
(h) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
£
Cost
At 1 April 2022 and 31 March 2023
3,001
-------
Depreciation
At 1 April 2022
2,882
Charge for the year
24
-------
At 31 March 2023
2,906
-------
Carrying amount
At 31 March 2023
95
-------
At 31 March 2022
119
-------
6. Investments
£
Cost
At 1 April 2022 and 31 March 2023
1,462,522
------------
Impairment
At 1 April 2022 and 31 March 2023
------------
Carrying amount
At 31 March 2023
1,462,522
------------
At 31 March 2022
1,462,522
------------