IRIS Accounts Production v24.2.0.383 13256148 director 1.1.23 31.12.23 31.12.23 6.9.24 false true false false true false Auditors Opinion Ordinary share capital 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh132561482022-12-31132561482023-12-31132561482023-01-012023-12-31132561482021-12-31132561482022-01-012022-12-31132561482022-12-3113256148ns15:EnglandWales2023-01-012023-12-3113256148ns14:PoundSterling2023-01-012023-12-3113256148ns10:Director12023-01-012023-12-3113256148ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3113256148ns10:SmallEntities2023-01-012023-12-3113256148ns10:Audited2023-01-012023-12-3113256148ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3113256148ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113256148ns10:FullAccounts2023-01-012023-12-3113256148ns10:OrdinaryShareClass12023-01-012023-12-3113256148ns10:RegisteredOffice2023-01-012023-12-3113256148ns5:CurrentFinancialInstruments2023-12-3113256148ns5:CurrentFinancialInstruments2022-12-3113256148ns5:ShareCapital2023-12-3113256148ns5:ShareCapital2022-12-3113256148ns5:RetainedEarningsAccumulatedLosses2023-12-3113256148ns5:RetainedEarningsAccumulatedLosses2022-12-3113256148ns5:PlantMachinery2022-12-3113256148ns5:PlantMachinery2023-01-012023-12-3113256148ns5:PlantMachinery2023-12-3113256148ns5:PlantMachinery2022-12-3113256148ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3113256148ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3113256148ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 13256148 (England and Wales)















NAILBITER LIMITED

Financial Statements for the Year Ended 31 December 2023






NAILBITER LIMITED (REGISTERED NUMBER: 13256148)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


NAILBITER LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr Amit Dhand





REGISTERED OFFICE: 128 City Road
London
EC1V 2NX





REGISTERED NUMBER: 13256148 (England and Wales)





AUDITORS: Jassal and Company
Chartered Accountants and Registered Auditors
Unit 2 Hatherton Court
21 Hatherton Street
Walsall
West Midlands
WS4 2LA

NAILBITER LIMITED (REGISTERED NUMBER: 13256148)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,819 2,724

CURRENT ASSETS
Debtors 5 15,958 57,301
Cash at bank 74,696 14,110
90,654 71,411
CREDITORS
Amounts falling due within one year 6 43,246 45,638
NET CURRENT ASSETS 47,408 25,773
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,227

28,497

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 49,127 28,397
SHAREHOLDERS' FUNDS 49,227 28,497

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





Mr Amit Dhand - Director


NAILBITER LIMITED (REGISTERED NUMBER: 13256148)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Nailbiter Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is shown net of value added tax and other sales related taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc - 3 years straight line

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. Any impairment loss arising is charged to the profit and loss account in the year to which it relates.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The validity of this assumption is on the basis that the company will continue to be supported by its parent Nailbiter Inc. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefit payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

NAILBITER LIMITED (REGISTERED NUMBER: 13256148)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies, are initially recognised at the transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.


NAILBITER LIMITED (REGISTERED NUMBER: 13256148)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company provides a defined contribution pension scheme through the St James Pension Scheme to its employees. Contributions to the St James Pension Scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 4,317
Additions 832
At 31 December 2023 5,149
DEPRECIATION
At 1 January 2023 1,593
Charge for year 1,737
At 31 December 2023 3,330
NET BOOK VALUE
At 31 December 2023 1,819
At 31 December 2022 2,724

NAILBITER LIMITED (REGISTERED NUMBER: 13256148)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 15,958 57,301

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 371 -
Amounts owed to group undertakings - 8,706
Taxation and social security 22,201 18,396
Other creditors 20,674 18,536
43,246 45,638

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary share capital 1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rajinder Jassal (Senior Statutory Auditor)
for and on behalf of Jassal and Company

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Nailbiter Inc.

The largest and smallest group of undertakings for which publically available consolidated accounts are prepared is that headed by Nailbiter Inc, the parent company which is incorporated in the USA. Copies of the consolidated accounts can be obtained from 13221 Woodland Park Road, (Suite 360 & 3rd Floor), Herndon, Virginia 20171, USA.