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Registered Number: SC637453
Scotland

 

 

 


Abridged Accounts

for the year ended 31 December 2023

for

N2 APPLIED LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 725    1,536 
725    1,536 
Current assets      
Stocks   53,690 
Debtors 226,656    85,308 
Cash at bank and in hand 29,843    69,831 
256,499    208,829 
Creditors: amount falling due within one year (2,280,603)   (2,396,539)
Net current liabilities (2,024,104)   (2,187,710)
 
Total assets less current liabilities (2,023,379)   (2,186,174)
Net liabilities (2,023,379)   (2,186,174)
 

Capital and reserves
     
Called up share capital 4 1    1 
Other Comprehensive Income 5 165,776   
Profit and loss account (2,189,156)   (2,186,175)
Shareholder's funds (2,023,379)   (2,186,174)
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 07 February 2024 and were signed on its behalf by:


-------------------------------
Torbjorn Blom-Hagen
Director
1
General Information
N2 Applied Ltd is a private company, limited by shares, registered in Scotland, registration number SC637453, registration address 5 South Charlotte Street, Edinburgh, EH2 4AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 January 2023 3,645    3,645 
Additions  
Disposals  
At 31 December 2023 3,645    3,645 
Depreciation
At 01 January 2023 2,109    2,109 
Charge for year 811    811 
On disposals  
At 31 December 2023 2,920    2,920 
Net book values
Closing balance as at 31 December 2023 725    725 
Opening balance as at 01 January 2023 1,536    1,536 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

5.

Other Comprehensive Income

2023
£
  2022
£
Foreign currency adjustments 165,776   
165,776   

2