Registration number:
Nerak-Wiese Limited
Unaudited Financial Statements
for the
Year Ended 30 November 2023
Nerak-Wiese Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Nerak-Wiese Limited
Company Information
Directors |
Mr J E Oakley Mr M S Amber Mrs S A Watkins Mr S G Musgrave |
Company secretary |
Mr P M Francis |
Registered office |
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Bankers |
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Accountants |
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Nerak-Wiese Limited
(Registration number: 02749568)
Balance Sheet
as at 30 November 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.
Nerak-Wiese Limited
(Registration number: 02749568)
Balance Sheet
as at 30 November 2023
Approved and authorised by the
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Nerak-Wiese Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales within the United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
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 except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover represents net invoiced sales of goods and services, excluding Value Added Tax. Turnover is recognised when the goods and services are physically delivered to the customer. Turnover for amounts recoverable on contracts is recognised based on an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the contract.
Government grants
Grants in respect of capital expenditure are treated as deferred credits, a proportion of which is transferred to revenue annually over the estimated useful life of the related assets.
Revenue grants have been received under the Coronavirus Job Retention Scheme. These are accounted in accordance with the pay periods to which the grants relate.
Nerak-Wiese Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023
Foreign currency transactions and balances
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 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 tax charge is calculated on the basis of United Kingdom tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred 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 tax is determined using United Kingdom 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.
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 over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold property |
2% on cost |
Plant and machinery |
20% on cost |
Fixtures and fittings |
15% on cost |
Motor vehicles |
25% on cost |
Computer equipment |
33% on cost & 20% on cost |
Nerak-Wiese Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023
Trade debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price except that a provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stock is valued as the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Trade creditors are recognised at the transaction price.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash received.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Nerak-Wiese Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Nerak-Wiese Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023
Tangible assets |
Land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
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Cost or valuation |
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At 1 December 2022 |
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Additions |
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Disposals |
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- |
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( |
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At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
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Charge for the year |
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Eliminated on disposal |
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- |
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- |
( |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Total |
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Cost or valuation |
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At 1 December 2022 |
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Additions |
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Disposals |
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At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
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Charge for the year |
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Eliminated on disposal |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Nerak-Wiese Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023
Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Nerak-Wiese Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Corporation tax |
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- |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Deferred income |
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88,022 |
119,886 |
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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50,000 |
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50,000 |
Nerak-Wiese Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Finance lease liabilities |
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2023 |
2022 |
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Current loans and borrowings |
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Finance lease liabilities |
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