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Registration number: 10868464

NPITV Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2021

 

NPITV Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

NPITV Ltd

(Registration number: 10868464)
Balance Sheet as at 31 July 2021

Note

2021
£

2020
£

Current assets

 

Stocks

-

11,410

Debtors

4

43,977

67,659

Cash at bank and in hand

 

2,620

88,108

 

46,597

167,177

Creditors: Amounts falling due within one year

5

(60,516)

(134,233)

Total assets less current liabilities

 

(13,919)

32,944

Creditors: Amounts falling due after more than one year

5

(39,556)

(50,000)

Net liabilities

 

(53,475)

(17,056)

Capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

(53,575)

(17,156)

Shareholders' deficit

 

(53,475)

(17,056)

For the financial year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

Approved and authorised by the director on 8 April 2024
 

.........................................
Nigel Pilling
Director

 

NPITV Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 6, Vantage Business Court
Riverside Way
Barrowowford
Nelson
BB9 6BP

These financial statements were authorised for issue by the director on 8 April 2024.

2

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.

Going concern

The company relies on the conitnuing support of the directors, and the directors have indicated that this support will continue.

On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

NPITV Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2020 - 0).

 

NPITV Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

4

Debtors

2021
£

2020
£

Trade debtors

7,527

43,200

Other debtors

36,450

24,459

43,977

67,659

5

Creditors

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

7

9,712

-

Trade creditors

 

10,240

76,231

Accruals and deferred income

 

1,500

900

Other creditors

 

39,064

57,102

 

60,516

134,233

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

39,556

50,000

6

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

NPITV Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

39,556

50,000

2021
£

2020
£

Current loans and borrowings

Bank borrowings

9,712

-

8

Related party transactions

Summary of transactions with other related parties

NP Integrated Technology Limited (a company owned and controlled by the director, Nigel Pilling).
NCP Properties Limited (a company owned and controlled by the director, Nigel Pilling).

 

Income and receivables from related parties

2021

Other related parties
£

Amounts receivable from related party

17,537

2020

Other related parties
£

Amounts receivable from related party

18,515

Expenditure with and payables to related parties

2021

Other related parties
£

Purchase of goods

28,625

2020

Other related parties
£

Purchase of goods

74,110