Nimbus International Limited 05052742 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true true 05052742 2023-01-01 2023-12-31 05052742 2023-12-31 05052742 core:RetainedEarningsAccumulatedLosses 2023-12-31 05052742 core:ShareCapital 2023-12-31 05052742 core:CurrentFinancialInstruments 2023-12-31 05052742 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05052742 bus:SmallEntities 2023-01-01 2023-12-31 05052742 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05052742 bus:FullAccounts 2023-01-01 2023-12-31 05052742 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05052742 bus:RegisteredOffice 2023-01-01 2023-12-31 05052742 bus:CompanySecretary1 2023-01-01 2023-12-31 05052742 bus:Director1 2023-01-01 2023-12-31 05052742 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05052742 core:MotorVehicles 2023-01-01 2023-12-31 05052742 core:OfficeEquipment 2023-01-01 2023-12-31 05052742 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 05052742 5 2023-01-01 2023-12-31 05052742 countries:EnglandWales 2023-01-01 2023-12-31 05052742 2022-01-01 2022-12-31 05052742 2022-12-31 05052742 core:RetainedEarningsAccumulatedLosses 2022-12-31 05052742 core:ShareCapital 2022-12-31 05052742 core:CurrentFinancialInstruments 2022-12-31 05052742 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 05052742

Prepared for the registrar

Nimbus International Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Nimbus International Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Nimbus International Limited

Company Information

Director

Mr Jonathan Baird

Company secretary

Mr A Laird

Registered office

Staverton Court
Staverton
Cheltenham
GL51 0UX

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Nimbus International Limited

(Registration number: 05052742)
Balance Sheet as at 31 December 2023

Note

2023
 £

2022
 £

Current assets

 

Debtors

4

50,000

58,967

Cash at bank and in hand

 

5,548

3,668

 

55,548

62,635

Creditors: Amounts falling due within one year

5

(168,884)

(122,738)

Net liabilities

 

(113,336)

(60,103)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(113,338)

(60,105)

Total equity

 

(113,336)

(60,103)

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 September 2024
 


Mr Jonathan Baird
Director

 

Nimbus International Limited

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

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

If the forecasts are not met the shareholder has indicated that they will support any shortfall in funding, although there is no written agreement in place. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

 

Nimbus International Limited

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

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

No key sources of uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Tax

The tax expense for the period comprises and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Depreciation

Asset class

Depreciation method and rate

Office equipment

33.33% written down value

Motor vehicles

25% written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Nimbus International Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was as follows:

 

Nimbus International Limited

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

 

4

Debtors

2023
 £

2022
 £

Trade debtors

50,000

50,000

Other debtors

-

8,967

 

50,000

58,967

 

5

Creditors

2023
 £

2022
 £

Due within one year

Loans and borrowings

165,264

119,368

Accrued expenses

3,620

3,370

168,884

122,738

 

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

165,264

119,368

 

7

Related party transactions

Summary of transactions with key management

Key management personnel is considered to be the director of the company.

As at the balance sheet date, the company owed the director £165,264 (2022: £119,368). There are no fixed repayment terms and no interest is charged.