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Registered Number: 04723337
England and Wales

 

 

 

NIVE & CO UK LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Accountants report

You consider that the company is exempt from an audit for the year ended 31 May 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently, we do not express any opinion on these accounts.



....................................................
MNP ACCOUNTANTS
27 Hay Lane
Kingsbury
London
NW9 0NH
14 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 71,624    79,933 
71,624    79,933 
Current assets      
Stocks 56,001    46,911 
Cash at bank and in hand 83,019    84,591 
139,020    131,502 
Creditors: amount falling due within one year (171,472)   (176,873)
Net current liabilities (32,452)   (45,371)
 
Total assets less current liabilities 39,172    34,562 
Provisions for liabilities (54)   (29)
Net assets 39,118    34,533 
 

Capital and reserves
     
Called up share capital 4 1,000    1,000 
Profit and loss account 38,118    33,533 
Shareholder's funds 39,118    34,533 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 14 February 2024 and were signed by:


-------------------------------
Mr Ganesharatnam Balakulendran
Director
2
General Information
NIVE & CO UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04723337, registration address 121 Wood End Lane, Northolt, Middlesex, UB5 4JP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% WDV
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 June 2022 40,966    19,245    63,278    2,000    125,489 
Additions        
Disposals        
At 31 May 2023 40,966    19,245    63,278    2,000    125,489 
Depreciation
At 01 June 2022   9,256    35,918    382    45,556 
Charge for year   2,097    5,888    324    8,309 
On disposals        
At 31 May 2023   11,353    41,806    706    53,865 
Net book values
Closing balance as at 31 May 2023 40,966    7,892    21,472    1,294    71,624 
Opening balance as at 01 June 2022 40,966    9,989    27,360    1,618    79,933 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

3