Nia Limited 03077808 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is Deepsea fishing Digita Accounts Production Advanced 6.30.9574.0 true true 03077808 2022-08-01 2023-07-31 03077808 2023-07-31 03077808 bus:OrdinaryShareClass1 2023-07-31 03077808 core:CurrentFinancialInstruments 2023-07-31 03077808 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 03077808 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 03077808 core:FurnitureFittingsToolsEquipment 2023-07-31 03077808 bus:SmallEntities 2022-08-01 2023-07-31 03077808 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 03077808 bus:FilletedAccounts 2022-08-01 2023-07-31 03077808 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 03077808 bus:RegisteredOffice 2022-08-01 2023-07-31 03077808 bus:Director1 2022-08-01 2023-07-31 03077808 bus:Director2 2022-08-01 2023-07-31 03077808 bus:Director3 2022-08-01 2023-07-31 03077808 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 03077808 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 03077808 core:RevaluationReserve 2022-08-01 2023-07-31 03077808 core:PatentsTrademarksLicencesConcessionsSimilar 2022-08-01 2023-07-31 03077808 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 03077808 core:PlantMachinery 2022-08-01 2023-07-31 03077808 countries:AllCountries 2022-08-01 2023-07-31 03077808 2022-07-31 03077808 core:PatentsTrademarksLicencesConcessionsSimilar 2022-07-31 03077808 core:FurnitureFittingsToolsEquipment 2022-07-31 03077808 2021-08-01 2022-07-31 03077808 2022-07-31 03077808 bus:OrdinaryShareClass1 2022-07-31 03077808 core:CurrentFinancialInstruments 2022-07-31 03077808 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 03077808 core:PatentsTrademarksLicencesConcessionsSimilar 2022-07-31 03077808 core:FurnitureFittingsToolsEquipment 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03077808

Nia Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Nia Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Nia Limited

Company Information
__________________________________________________________________________

Directors

Maria Del Carmen Piedras Jacome

Beatriz Vazquez Piedras

Manuel Vazquez Fraga

Registered office

Viewlands
Broomehall Road
Coldharbour
Dorking
Surrey
RH5 6HJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Nia Limited

(Registration number: 03077808)
Balance Sheet as at 31 July 2023
__________________________________________________________________________

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

3

308,645

376,396

Tangible assets

4

-

38,189

 

308,645

414,585

Current assets

 

Debtors

5

52,345

80,714

Cash at bank and in hand

 

80,176

-

 

132,521

80,714

Creditors: Amounts falling due within one year

6

(652,613)

(1,748,918)

Net current liabilities

 

(520,092)

(1,668,204)

Net liabilities

 

(211,447)

(1,253,619)

Capital and reserves

 

Called up share capital

7

1,000

1,000

Revaluation reserve

-

352,307

Retained earnings

(212,447)

(1,606,926)

Shareholders' deficit

 

(211,447)

(1,253,619)

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 Board on 19 April 2024 and signed on its behalf by:
 

.........................................
Maria Del Carmen Piedras Jacome
Director

 

Nia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

1

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 financial statements have been prepared 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vessel and equipment

10% RB

 

Nia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Fishing quota and licence

18% RB

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.

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.

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.

 

Nia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Nia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

3

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 August 2022

459,020

459,020

At 31 July 2023

459,020

459,020

Amortisation

At 1 August 2022

82,624

82,624

Amortisation charge

67,751

67,751

At 31 July 2023

150,375

150,375

Carrying amount

At 31 July 2023

308,645

308,645

At 31 July 2022

376,396

376,396

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

1,056,855

1,056,855

Disposals

(1,056,855)

(1,056,855)

At 31 July 2023

-

-

Depreciation

At 1 August 2022

1,018,666

1,018,666

Eliminated on disposal

(1,018,666)

(1,018,666)

At 31 July 2023

-

-

Carrying amount

At 31 July 2023

-

-

At 31 July 2022

38,189

38,189

 

Nia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

5

Debtors

Current

2023
£

2022
£

Trade debtors

46,774

68,707

Other debtors

5,571

12,007

 

52,345

80,714

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

-

169,698

Trade creditors

 

918

965,106

Accruals and deferred income

 

1,750

3,500

Other creditors

 

649,945

610,614

 

652,613

1,748,918

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(352,307)

(352,307)

 

Nia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
__________________________________________________________________________

9

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

48,148

Bank overdrafts

-

121,550

-

169,698