Registered number
06298239
Nile Trading UK LTD
Filleted Accounts
31 March 2023
Nile Trading UK LTD
Registered number: 06298239
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 17,765 17,765
Tangible assets 4 228,913 171,348
246,678 189,113
Current assets
Stocks 1,058,113 1,216,446
Debtors 5 846,862 908,020
Cash at bank and in hand 1,102,812 660,580
3,007,787 2,785,046
Creditors: amounts falling due within one year 6 (1,707,751) (1,898,647)
Net current assets 1,300,036 886,399
Net assets 1,546,714 1,075,512
Capital and reserves
Called up share capital 210 160
Profit and loss account 1,546,504 1,075,352
Shareholders' funds 1,546,714 1,075,512
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sanjay Shah
Director
Approved by the board on 11 December 2023
Nile Trading UK LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 18 16
3 Intangible fixed assets £
Leasehold Property
Cost
At 1 April 2022 17,765
At 31 March 2023 17,765
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 17,765
At 31 March 2022 17,765
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 49,330 171,792 148,211 369,333
Additions 6,524 108,242 - 114,766
At 31 March 2023 55,854 280,034 148,211 484,099
Depreciation
At 1 April 2022 30,841 78,134 89,010 197,985
Charge for the year 5,002 40,380 11,819 57,201
At 31 March 2023 35,843 118,514 100,829 255,186
Net book value
At 31 March 2023 20,011 161,520 47,382 228,913
At 31 March 2022 18,489 93,658 59,201 171,348
5 Debtors 2023 2022
£ £
Trade debtors 702,075 778,393
Other debtors 144,787 129,627
846,862 908,020
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 125,807 218,566
Trade creditors 586,744 509,949
Corporation tax 139,664 83,335
Other taxes and social security costs 217,626 342,466
Other creditors 637,910 744,331
1,707,751 1,898,647
7 Other information
Nile Trading UK LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit Dc4a Prologis Maylands Gateway
Blossom Way
Hemel Hempstead
Hertfordshire
HP2 4ZB
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