Nightjar Research Ltd
Registered number: 12044905
Statement of Financial Position
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,971 2,628
Current assets
Debtors 4 7,710 4,182
Cash at bank and in hand 3,778 24,928
11,488 29,110
Creditors: amounts falling due within one year 5 (12,895) (31,052)
Net current liabilities (1,407) (1,942)
Total assets less current liabilities 564 686
Provisions for liabilities (499) (499)
Net assets 65 187
Capital and reserves
Called up share capital 100 100
Profit and loss account (35) 87
Shareholder's funds 65 187
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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 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.
C Coward
Director
Approved by the board on 6 March 2024
Nightjar Research Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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.
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:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction 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. 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.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 3,992
At 30 June 2023 3,992
Depreciation
At 1 July 2022 1,364
Charge for the year 657
At 30 June 2023 2,021
Net book value
At 30 June 2023 1,971
At 30 June 2022 2,628
4 Debtors 2023 2022
£ £
Trade debtors 6,300 4,140
Prepayments 60 42
Accrued income 1,350 -
7,710 4,182
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 191
Accruals 1,096 1,229
Corporation tax 3,970 9,029
Other taxes and social security costs 1,826 3,620
Other creditors 6,003 16,983
12,895 31,052
6 Other information
Nightjar Research Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Bell Yard
London
WC2A 2JR
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