Company Registration No. 01825766 (England and Wales)
Nilefern Limited
Unaudited accounts
for the year ended 31 December 2023
Nilefern Limited
Unaudited accounts
Contents
Nilefern Limited
Company Information
for the year ended 31 December 2023
Company Number
01825766 (England and Wales)
Registered Office
2ND FLOOR, KNIGHTRIDER CHAMBERS
KNIGHTRIDER STREET
MAIDSTONE
KENT
ME15 6LP
Nilefern Limited
Statement of financial position
as at 31 December 2023
Tangible assets
71,187
37,122
Debtors
2,202,563
1,995,252
Cash at bank and in hand
583,782
811,621
Creditors: amounts falling due within one year
(1,745,233)
(1,857,246)
Net current assets
1,049,272
957,787
Net assets
1,120,459
994,909
Called up share capital
200,100
200,100
Profit and loss account
920,359
794,809
Shareholders' funds
1,120,459
994,909
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 July 2024 and were signed on its behalf by
Mr T Simpson
Director
Company Registration No. 01825766
Nilefern Limited
Notes to the Accounts
for the year ended 31 December 2023
Nilefern Limited is a private company, limited by shares, registered in England and Wales, registration number 01825766. The registered office is 2ND FLOOR, KNIGHTRIDER CHAMBERS, KNIGHTRIDER STREET, MAIDSTONE, KENT, ME15 6LP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Turnover is the amount receivable by the company for services provided.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
1,061
11,003
122,975
135,039
Additions
-
-
48,100
48,100
Disposals
(229)
-
(7,762)
(7,991)
At 31 December 2023
832
11,003
163,313
175,148
At 1 January 2023
353
9,172
88,392
97,917
Charge for the year
177
552
12,180
12,909
On disposals
(151)
-
(6,714)
(6,865)
At 31 December 2023
379
9,724
93,858
103,961
At 31 December 2023
453
1,279
69,455
71,187
At 31 December 2022
708
1,831
34,583
37,122
Nilefern Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
1,572,627
1,550,929
Amounts due from group undertakings etc.
242,831
36,831
Accrued income and prepayments
76,928
88,496
Other debtors
310,177
318,996
6
Investments held as current assets
2023
2022
Unlisted investments
8,160
8,160
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
1,658,428
1,749,394
Taxes and social security
80,765
107,509
8
Operating lease commitments
2023
2022
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
8,461
4,113
Later than one year and not later than five years
61,435
66,290
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Transactions with related parties
During the year the company paid management fees amounting to £25,000 (2022: £92,000) to a connected company, TGFA Consulting Limited.
It paid no management fees (2022: £270,000) to the parent company, Miramar HC Limited.
At the year end the outstanding balance owed to the parent company, Miramar HC Limited, is £286,731 (2022: £105,731). The loan to the parent company is non-interest bearing with no fixed term of payment.
No other transactions with related parties were undertaken, such as are required to be disclosed under the provisions of Section1A of Financial Reporting Standard 102.
The company is a subsidiary of Miramar HC Limited, a company incorporated in England and Wales, and under the control of Mr T. Simpson.
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Average number of employees
During the year the average number of employees was 24 (2022: 21).