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COMPANY REGISTRATION NUMBER: 02261253
NESSCOMP LIMITED
Filleted Unaudited Financial Statements
For the year ended
30 June 2023
NESSCOMP LIMITED
Financial Statements
Year ended 30 June 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
NESSCOMP LIMITED
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,307
1,742
Current assets
Debtors
6
6,675
12,869
Cash at bank and in hand
16,444
17,992
--------
--------
23,119
30,861
Creditors: amounts falling due within one year
7
( 17,813)
( 19,257)
--------
--------
Net current assets
5,306
11,604
-------
--------
Total assets less current liabilities
6,613
13,346
Creditors: amounts falling due after more than one year
8
( 8,360)
( 12,386)
-------
--------
Net (liabilities)/assets
( 1,747)
960
-------
--------
Capital and reserves
Called up share capital
9
200
200
Profit and loss account
( 1,947)
760
-------
----
Shareholder (deficit)/funds
( 1,747)
960
-------
----
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 statement of income and retained earnings 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.
Director 's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NESSCOMP LIMITED
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
J K Skreta
Director
Company registration number: 02261253
NESSCOMP LIMITED
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. The address of the registered office is 6 Maple Grove Business Centre, Lawrence Road, Hounslow, Middlesex, TW4 6DR.
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. The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
Going concern
The financial statements have been prepared on a going concern basis. The company is dependent on the continued support of its director. The director has given confirmation that he does not intend to withdraw support in the foreseeable future. These financial statements do not include any adjustments which might result from such a withdrawal of support.
Trade receivables
Trade receivables do not carry any interest and are stated at their original invoice value as reduced by appropriate allowances for estimated irrecoverable amounts.
Trade payables
Trade payables do not carry any interest and are stated at their original invoice value.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Income tax
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. In this case, tax is recognised in other comprehensive income. 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Fixtures & Fittings
-
25% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 July 2022 and 30 June 2023
9,043
1,721
10,764
-------
-------
--------
Depreciation
At 1 July 2022
7,312
1,710
9,022
Charge for the year
433
2
435
-------
-------
--------
At 30 June 2023
7,745
1,712
9,457
-------
-------
--------
Carrying amount
At 30 June 2023
1,298
9
1,307
-------
-------
--------
At 30 June 2022
1,731
11
1,742
-------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
5,097
8,989
Other debtors
1,578
3,880
-------
--------
6,675
12,869
-------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
4,026
3,927
Trade creditors
2,001
2,002
Social security and other taxes
8,101
10,297
Other creditors
3,685
3,031
--------
--------
17,813
19,257
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
8,360
12,386
-------
--------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
200
200
200
200
----
----
----
----
10. Director 's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Director
2,688
48
( 2,700)
36
-------
----
-------
----
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Director
( 975)
3,663
2,688
----
-------
----
-------
11. Related party transactions
The company entered into the following related party transactions during the year:
Nature of Relationship Transaction Type 2023 2022
£ £
Director and shareholder Balance due to/(from) (36) (2,688)