IRIS Accounts Production v24.2.0.383 09330222 director 1.1.23 31.12.23 31.12.23 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093302222022-12-31093302222023-12-31093302222023-01-012023-12-31093302222021-12-31093302222022-01-012022-12-31093302222022-12-3109330222ns15:EnglandWales2023-01-012023-12-3109330222ns14:PoundSterling2023-01-012023-12-3109330222ns10:Director12023-01-012023-12-3109330222ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109330222ns10:SmallEntities2023-01-012023-12-3109330222ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3109330222ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109330222ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109330222ns10:FullAccounts2023-01-012023-12-3109330222ns10:OrdinaryShareClass12023-01-012023-12-3109330222ns10:Director22023-01-012023-12-3109330222ns10:RegisteredOffice2023-01-012023-12-3109330222ns5:CurrentFinancialInstruments2023-12-3109330222ns5:CurrentFinancialInstruments2022-12-3109330222ns5:ShareCapital2023-12-3109330222ns5:ShareCapital2022-12-3109330222ns5:RetainedEarningsAccumulatedLosses2023-12-3109330222ns5:RetainedEarningsAccumulatedLosses2022-12-3109330222ns5:FurnitureFittings2023-01-012023-12-3109330222ns5:FurnitureFittings2022-12-3109330222ns5:FurnitureFittings2023-12-3109330222ns5:FurnitureFittings2022-12-3109330222ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3109330222ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109330222ns10:OrdinaryShareClass12023-12-3109330222ns5:RetainedEarningsAccumulatedLosses2022-12-3109330222ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 09330222 (England and Wales)















Nekton Services (UK) Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Nekton Services (UK) Limited (Registered number: 09330222)

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


Nekton Services (UK) Limited

Company Information
for the year ended 31 December 2023







Director: G Lopez





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 09330222 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Nekton Services (UK) Limited (Registered number: 09330222)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
Current assets
Debtors 5 1,859,502 1,880,671
Cash at bank and in hand 76,130 100
1,935,632 1,880,771
Creditors
Amounts falling due within one year 6 1,819,124 1,762,082
Net current assets 116,508 118,689
Total assets less current liabilities 116,508 118,689

Capital and reserves
Called up share capital 7 1 1
Retained earnings 8 116,507 118,688
Shareholders' funds 116,508 118,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 24 September 2024 and were signed by:





G Lopez Fojaca - Director


Nekton Services (UK) Limited (Registered number: 09330222)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Nekton Services (UK) 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.

Going concern
The company is dependent on the continued support of its group companies, of which there are no issues with going concern.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents amounts receivable for management services provided in the year and is stated net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 50% on cost

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables, convertible loan notes and loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets and liabilities - classified as basic financial instruments
(i) Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the company assesses whether there is objective evidence that an
receivable amount may be impaired. A provision for impairment 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 receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

Nekton Services (UK) Limited (Registered number: 09330222)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

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 operates a defined contribution pension scheme. Contributions payable to the company's 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 NIL (2022 - 1 ).

4. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 January 2023
and 31 December 2023 72,616
Depreciation
At 1 January 2023
and 31 December 2023 72,616
Net book value
At 31 December 2023 -
At 31 December 2022 -

5. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by related undertakings 1,845,034 1,814,882
Other debtors 14,468 65,789
1,859,502 1,880,671

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 369 4,955
Amounts owed to related undertakings 64,053 63,419
Other creditors 1,754,702 1,693,708
1,819,124 1,762,082

7. Called up share capital

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

Nekton Services (UK) Limited (Registered number: 09330222)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. Reserves
Retained
earnings
£

At 1 January 2023 118,688
Deficit for the year (2,181 )
At 31 December 2023 116,507

9. Related party disclosures

Included within creditors is a balance of £64,053 (2022 - £63,419) owed to the immediate parent company.

Included within other creditors is a balance of £1,750,458 (2022 - £1,689,985) owed to the ultimate controlling party. During the year, the company paid interest of £17,032 (2022 - £16,132) in relation to this balance.

All transactions were at arms length and in the normal course of business.