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COMPANY REGISTRATION NUMBER: 11091271
Niprose Investments Limited
Filleted Unaudited Financial Statements
31 December 2023
Niprose Investments Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
822,686
582,636
Current assets
Debtors
5
449
102
Cash at bank and in hand
11,230
11,775
--------
--------
11,679
11,877
Creditors: amounts falling due within one year
6
1,070,722
899,849
------------
---------
Net current liabilities
1,059,043
887,972
------------
---------
Total assets less current liabilities
( 236,357)
( 305,336)
---------
---------
Net liabilities
( 236,357)
( 305,336)
---------
---------
Capital and reserves
Called up share capital
102
102
Profit and loss account
( 236,459)
( 305,438)
---------
---------
Shareholders deficit
( 236,357)
( 305,336)
---------
---------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Niprose Investments Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 4 September 2024 , and are signed on behalf of the board by:
R Nickoll
Director
Company registration number: 11091271
Niprose Investments Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Honnington Farmhouse, Vauxhall Lane, Tunbridge Wells, TN4 0XD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis notwithstanding the deficit on members funds as the director has expressed a willingness to support the company for the foreseeable future, the company has received an interest free loan was received from a related party.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Investments
Investments
£
Cost
At 1 January 2023
582,636
Additions
513,221
Disposals
( 332,406)
Revaluations
59,235
---------
At 31 December 2023
822,686
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
822,686
---------
At 31 December 2022
582,636
---------
5. Debtors
2023
2022
£
£
Other debtors
449
102
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,070,722
899,849
------------
---------
7. Related party transactions
During the year the there was no movements (2022: £54,000 received) on a loan from a related party. At the year end the loan totaled £ 554,600 (2022: £ 554,600 ) No interest is charged on this loan.