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Registered number: 14481233









NAPA CENTRE UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
NAPA CENTRE UK LIMITED
REGISTERED NUMBER: 14481233

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
220,323

  
220,323

Current assets
  

Debtors: amounts falling due within one year
 5 
1,195,286

Cash at bank and in hand
 6 
168,586

  
1,363,872

Creditors: amounts falling due within one year
 7 
(1,446,955)

Net current (liabilities)/assets
  
 
 
(83,083)

Total assets less current liabilities
  
137,240

Creditors: amounts falling due after more than one year
 8 
(200,000)

  

Net (liabilities)/assets
  
(62,760)


Capital and reserves
  

Called up share capital 
  
1,000

Share premium account
  
199,800

Profit and loss account
  
(263,560)

  
(62,760)


Page 1

 
NAPA CENTRE UK LIMITED
REGISTERED NUMBER: 14481233
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 August 2024.




B A LaScala
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NAPA CENTRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

NAPA Centre UK Limited is a private company limited by shares and registered in England & Wales. The address of its registered place of business is 124 Finchley Road, London, England, NW3 5JS. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After reviewing the company's forecasts and projections, the director has a good expectation that the
company has adequate resources to continue in operational existence for the foreseeable future.The
company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
NAPA CENTRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10% straight line
Plant and machinery
-
33% straight line
Fixtures and fittings
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

2023
£

Wages and salaries
116,886

Social security costs
12,387

129,273


The average monthly number of employees, including directors, during the period was 4.

Page 4

 
NAPA CENTRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Long-term leasehold property
Equipment
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


Additions
125,108
94,391
15,706
235,205



At 31 December 2023

125,108
94,391
15,706
235,205



Depreciation


Charge for the period on owned assets
3,322
10,298
1,262
14,882



At 31 December 2023

3,322
10,298
1,262
14,882



Net book value



At 31 December 2023
121,786
84,093
14,444
220,323

Page 5

 
NAPA CENTRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Debtors

2023
£


Trade debtors
1,060,580

Other debtors
800

Prepayments and accrued income
133,906

1,195,286



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
168,586

168,586



7.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
14,331

Other creditors
16,234

Accruals and deferred income
1,416,390

1,446,955



8.


Creditors: Amounts falling due after more than one year

2023
£

Other loans
200,000

200,000


Page 6

 
NAPA CENTRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
£


Amounts falling due 1-2 years

Other loans
200,000


200,000



200,000



10.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
£


Not later than 1 year
108,579

Later than 1 year and not later than 5 years
409,967

518,546

 
Page 7