Registered number
10805169
Nijjerco Ltd
Filleted Accounts
31 July 2023
Nijjerco Ltd
Registered number: 10805169
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 277,818 113,067
Tangible assets 4 77,171 87,976
354,989 201,043
Current assets
Stocks 39,890 59,890
Debtors 5 31,428 56,853
Cash at bank and in hand 90,703 73,075
162,021 189,818
Creditors: amounts falling due within one year 6 (257,834) (97,814)
Net current (liabilities)/assets (95,813) 92,004
Total assets less current liabilities 259,176 293,047
Creditors: amounts falling due after more than one year 7 (189,922) (224,823)
Net assets 69,254 68,224
Capital and reserves
Called up share capital 100 100
Profit and loss account 69,154 68,124
Shareholders' funds 69,254 68,224
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.
K S Nijjer
Director
Approved by the board on 27 February 2024
Nijjerco Ltd
Notes to the Accounts
for the year ended 31 July 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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Short leasehold property Nil
Equipment and fixtures 20% reducing balance
Motor vehicles 25% 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. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
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. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 113,067
Additions 170,404
At 31 July 2023 283,471
Amortisation
Provided during the year 5,653
At 31 July 2023 5,653
Net book value
At 31 July 2023 277,818
At 31 July 2022 113,067
Goodwill is being written off over 20 years.
4 Tangible fixed assets
Short leasehold property Equipment and fixtures Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 4,322 123,788 5,000 133,110
Additions - 6,297 - 6,297
At 31 July 2023 4,322 130,085 5,000 139,407
Depreciation
At 1 August 2022 - 42,000 3,134 45,134
Charge for the year - 16,729 373 17,102
At 31 July 2023 - 58,729 3,507 62,236
Net book value
At 31 July 2023 4,322 71,356 1,493 77,171
At 31 July 2022 4,322 81,788 1,866 87,976
5 Debtors 2023 2022
£ £
Trade debtors 15,553 53,478
Other debtors 15,875 3,375
31,428 56,853
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 121,343 42,014
Trade creditors 15,445 40,853
Taxation and social security costs 14,633 674
Other creditors 106,413 14,273
257,834 97,814
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 189,922 224,823
189,922 224,823
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 115,127 42,014
9 Capital commitments 2023 2022
£ £
Amounts contracted for but not provided in the accounts 48,000 28,000
10 Other information
Nijjerco Ltd is a private company limited by shares and incorporated in England. Its registered office is:
C/o SRL Accountancy & Payroll Services Ltd
The Old Rectory
Main Street, Glenfield
Leicester
LE3 8DG
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