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Registration number: 08218101

Nikiarf Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

Pages for Filing with Registrar

 

Nikiarf Consulting Limited

(Registration number: 08218101)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,549

1,397

Other financial assets

6

-

66,150

 

2,549

67,547

Current assets

 

Debtors

7

11,715

76,340

Cash at bank and in hand

 

254,153

64,285

 

265,868

140,625

Creditors: Amounts falling due within one year

8

(39,323)

(20,111)

Net current assets

 

226,545

120,514

Net assets

 

229,094

188,061

Capital and reserves

 

Called up share capital

1

1

Retained earnings

229,093

188,060

Shareholders' funds

 

229,094

188,061

 

Nikiarf Consulting Limited

(Registration number: 08218101)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 April 2024
 

.........................................
F J Fraikin
Director

 

Nikiarf Consulting Limited

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

1

188,060

188,061

Profit for the year

-

41,033

41,033

Total comprehensive income

-

41,033

41,033

At 30 September 2023

1

229,093

229,094




 

Share capital
£

Profit and loss account
£

Total
£

At 1 October 2021

1

172,461

172,462

Profit for the year

-

15,599

15,599

Total comprehensive income

-

15,599

15,599

At 30 September 2022

1

188,060

188,061

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

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

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

Principal activity

The principal activity of the Company is the provision of consultancy services and the leasing of assets to customers.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services and rental equipment in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax and deferred 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Office equipment

33% straight line basis

Fixtures and fittings

25% straight line basis

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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.

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

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

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

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

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2022

5,347

5,347

Additions

2,755

2,755

Disposals

(1,267)

(1,267)

At 30 September 2023

6,835

6,835

Depreciation

At 1 October 2022

3,950

3,950

Charge for the year

1,084

1,084

Eliminated on disposal

(748)

(748)

At 30 September 2023

4,286

4,286

Carrying amount

At 30 September 2023

2,549

2,549

At 30 September 2022

1,397

1,397

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Other financial assets

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2022

66,150

66,150

Disposals

(66,150)

(66,150)

At 30 September 2023

-

-

Carrying amount

At 30 September 2023

-

-

7

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

448

-

Other debtors

 

11,267

76,340

 

11,715

76,340

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,199

4,954

Other creditors

11,681

4,506

Corporation tax

26,443

10,651

39,323

20,111

9

Related party transactions

Summary of transactions with other related parties

The Director

During the year the company made advances to the director totalling £161 (2022 - £Nil) and the director made repayments of £1,000 (2021 - £30), The director also made payments on behalf of the company of £4,643 At the balance sheet date the amount due to the director was £7,329 (2022 - £1,847).