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COMPANY REGISTRATION NUMBER: 11769437
NKT HOLDINGS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
Chartered Accountants
NKT HOLDINGS LTD
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
Chartered Accountants
NKT HOLDINGS LTD
BALANCE SHEET
30 June 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
765,218
745,218
Current assets
Debtors
5
100
100
Cash at bank and in hand
150
11,078
------------
------------
250
11,178
Creditors: amounts falling due within one year
6
( 435,703)
( 424,140)
------------
------------
Net current liabilities
( 435,453)
( 412,962)
------------
------------
Total assets less current liabilities
329,765
332,256
------------
------------
Net assets
329,765
332,256
------------
------------
Capital and reserves
Called up share capital
7
135
135
Share premium account
328,190
328,190
Profit and loss account
1,440
3,931
------------
------------
Shareholders funds
329,765
332,256
------------
------------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 January 2024 , and are signed on behalf of the board by:
N R Travis
Director
Company registration number: 11769437
Chartered Accountants
NKT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. General information
The company is a private company limited by shares, registered in England and Wales, registration number 11769437 . The address of the registered office is Unit 2 Transpennine Trading Estate, Gorrels Way, Rochdale, OL11 2PX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Investments
Shares in group undertakings
£
Cost
At 1 July 2022
745,218
Additions
20,000
------------
At 30 June 2023
765,218
------------
Impairment
At 1 July 2022 and 30 June 2023
------------
Carrying amount
At 30 June 2023
765,218
------------
At 30 June 2022
745,218
------------
The company's subsidiary undertaking is as follows:
Company Activity Ordinary shares
held
Chelburn Holdings Limited Holding company owns Chelburn 65.4%
Precision Limited manufacturing
precision machined components
5. Debtors
2023
2022
£
£
Other debtors
100
100
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
429,160
355,577
Accruals and deferred income
2,095
910
Corporation tax
4,448
5,679
Director loan accounts
2,300
Other creditors
949
Other loans
58,725
------------
------------
435,703
424,140
------------
------------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary Class A shares of £ 0.01 each
6,010
60
6,010
60
Ordinary Class B shares of £ 0.01 each
4,745
47
4,745
47
Ordinary Class C shares of £ 0.01 each
2,700
27
2,700
27
------------
------------
------------
------------
13,455
135
13,455
135
------------
------------
------------
------------
8. Related party transactions
Included in creditors is £nil (2022: £2,300) owed by the company to the directors. This debt is unsecured, repayable on demand and is interest free. There is no one controlling party of the company.