NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Company Registration Number:
07060396 (England and Wales)

Unaudited statutory accounts for the year ended 20 March 2023

Period of accounts

Start date: 21 March 2022

End date: 20 March 2023

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 20 March 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Profit and Loss notes - 11
Balance sheet notes - 12

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Company Information

for the Period Ended 20 March 2023




Director: A Rahgozar
A Amirkhani Farahani
H Shiva
Secretary: Centrum Secretaries Limited
Registered office: Elscot House
Arcadia Avenue
London
GBR
N3 2JU
Company Registration Number: 07060396 (England and Wales)

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Directors' Report Period Ended 20 March 2023

The directors present their report with the financial statements of the company for the period ended 20 March 2023

Principal Activities

The operations of the company for the year have been concerned mainly with procuring materials, providing business services and arranging finance for funding business operations.

Additional information

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS: Both the level of business and the year-end financial position are as expected. The European Union (EU) passed wide ranging trade sanctions against Iran on 26 July 2010 and extended these by further resolutions on 25 October 2010, 23 January, 23 March and 15 October 2012. This has had a significant effect on the company's services to its customers based in Iran in the past few years. However as a result of the agreement reached with Iran in late 2015 these restrictions were lifted with effect from 16 January 2016. The United States of America (USA) subsequently withdrew from the 2015 agreement in May 2018. This has resulted in many of the previous sanctions restrictive measures against Iran to remain effectively in place up to now. The Company's directors are continuing to review its activities in the light of those restrictions.

Directors

The directors shown below have held office during the whole of the period from 21 March 2022 to 20 March 2023
A Rahgozar
H Shiva

The director(s) shown below resigned during the period
A Amirkhani Farahani
16 January 2023

Secretary
Centrum Secretaries Limited

This report was approved by the board of directors on 15 March 2024
And Signed On Behalf Of The Board By:

Name: H Shiva
Status: Director

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Profit and Loss Account

for the Period Ended 20 March 2023


Notes

2023
£

2022
£
Turnover 328,000 348,000
Gross Profit or (Loss) 328,000 348,000
Administrative Expenses ( 1,462,000 ) ( 220,000 )
Operating Profit or (Loss) ( 1,134,000 ) 128,000
Profit or (Loss) Before Tax 4 ( 1,134,000 ) 128,000
Profit or (Loss) for Period ( 1,134,000 ) 128,000

The notes form part of these financial statements

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Balance sheet

As at 20 March 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 1,000
Total fixed assets: 1,000
Current assets
Debtors: 5 1,695,000 4,720,000
Cash at bank and in hand: 3,226,000 7,571,000
Total current assets: 4,921,000 12,291,000
Creditors: amounts falling due within one year: 6 ( 9,359,000 ) ( 15,596,000 )
Net current assets (liabilities): ( 4,438,000 ) ( 3,305,000 )
Total assets less current liabilities: ( 4,438,000 ) ( 3,304,000 )
Total net assets (liabilities): ( 4,438,000 ) ( 3,304,000 )

The notes form part of these financial statements

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Balance sheet continued

As at 20 March 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 3,000 3,000
Profit and loss account: ( 4,441,000 ) ( 3,307,000 )
Shareholders funds: ( 4,438,000 ) ( 3,304,000 )

For the year ending 20 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 15 March 2024
And Signed On Behalf Of The Board By:

Name: H Shiva
Status: Director

The notes form part of these financial statements

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 20 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 20 March 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 4 5

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 20 March 2023

  • 3. Off balance sheet disclosure

    No

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 20 March 2023

4.Profit or (Loss) before tax

Administrative expenses include £1,151,000 foreign exchange losses (2022: are net of £335,000 foreign exchange gains).

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 20 March 2023

5. Debtors


2023
£

2022
£
Trade debtors 1,272,000 4,303,000
Other debtors 423,000 417,000
Total 1,695,000 4,720,000

NAFT TRADING AND TECHNOLOGY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 20 March 2023

6.Creditors: amounts falling due within one year note


2023
£

2022
£
Trade creditors 289,000 414,000
Taxation and social security 13,000 20,000
Accruals and deferred income 10,000 10,000
Other creditors 9,047,000 15,152,000
Total 9,359,000 15,596,000