REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Niras Fraenkel Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Niras Fraenkel Ltd |
Niras Fraenkel Ltd (Registered number: 03057712) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Niras Fraenkel Ltd |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Niras Fraenkel Ltd (Registered number: 03057712) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings | 6 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Niras Fraenkel Ltd (Registered number: 03057712) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Niras Fraenkel Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
- the requirements of Section 7 Statement of Cash Flows |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Turnover |
Turnover represents the amounts charged to customers for goods and services supplied and is recognised when the goods are delivered or as services are supplied, net of value added tax, except in respect of long term contracts where turnover represents the sale value of work done in the period. |
Contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Turnover is ascertained in a manner appropriate to the stage of completion of the contract, and credit taken for profit earned to date when the outcome of the contract can be assessed with reasonable certainty. The amount by which turnover exceeds payments on account is classified as "work in progress" and included in debtors; to the extent that payments on account exceed relevant turnover and contract balances, the excess is included as a creditor. |
Provision is made for losses which are foreseen. |
Interest and similar income and charges |
Interest and similar income and charges are recognised in the profit and loss account over the term of such |
instruments at a constant rate on the carrying amount. |
Project expenses |
Project expenses include expenses directly attributable to projects excluding salaries and including travel |
expenses, external expenses as well as other expenses. |
External expenses |
External expenses include administrative expenses, office expenses, marketing expenses as well as other |
expenses. |
Niras Fraenkel Ltd (Registered number: 03057712) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible assets |
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. |
Depreciation on fixed assets is provided at rates estimated to write off cost amounts, less estimated residual |
value, of each asset over its expected useful life as follows: |
Plant & machinery 25% |
Fixtures and fittings 25% |
Computer equipment 25% |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
Debtors |
Debtors are valued individually and there are made provision according to this valuation. |
Creditors |
Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors |
are carried at amortized cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 10,000 | 10,000 |
Preference | 1 | 240,000 | 240,000 |
250,000 | 250,000 |
Niras Fraenkel Ltd (Registered number: 03057712) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | CALLED UP SHARE CAPITAL - continued |
The holders of the ordinary shares have voting rights that arise only in certain circumstances; including a right to receive dividends and to participate in a distribution; in respect to capital, a right to participate in a distribution (including on winding up); and the shares are not able to be redeemed or are not liable to be redeemed at the option of the company or the shareholder. |
The holders of the preference shares have preference over ordinary shares contain certain voting rights that arise only in certain circumstances; including a right to receive dividends and to participate in a distribution; in respect to capital, a right to participate in a distribution (including on winding up); and the shares are not able to be redeemed or are not liable to be redeemed at the option of the company or the shareholder. |
6. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 | ( |
) |
Profit for the year |
At 31 December 2023 | ( |
) |
7. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
8. | ULTIMATE CONTROLLING PARTY |
The immediate parent company is NIRAS Gruppen A/S, a company incorporated in Denmark. NIRAS Gruppen A/S is controlled by NIRAS-ALECTIA Fonden, a foundation founded in Denmark. |