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REGISTERED NUMBER: 07064031 (England and Wales)



















NIVA CORPORATION LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






NIVA CORPORATION LTD (REGISTERED NUMBER: 07064031)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 5


NIVA CORPORATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr A Hashash





SECRETARY: Mr Y Yoffe





REGISTERED OFFICE: First Floor Offices
94 Stamford Hill
London
N16 6XS





REGISTERED NUMBER: 07064031 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

NIVA CORPORATION LTD (REGISTERED NUMBER: 07064031)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,147 2,526

CURRENT ASSETS
Stocks 5 74,000 81,000
Debtors 6 40,806 33,581
Cash at bank 21,391 24,607
136,197 139,188
CREDITORS
Amounts falling due within one year 7 158,899 159,214
NET CURRENT LIABILITIES (22,702 ) (20,026 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(20,555

)

(17,500

)

CREDITORS
Amounts falling due after more than one
year

8

14,951

25,195
NET LIABILITIES (35,506 ) (42,695 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (35,606 ) (42,795 )
(35,506 ) (42,695 )

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.

NIVA CORPORATION LTD (REGISTERED NUMBER: 07064031)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:





Mr A Hashash - Director


NIVA CORPORATION LTD (REGISTERED NUMBER: 07064031)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATEMENT OF COMPLIANCE

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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales 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.
Fixtures, fittings and equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern notwithstanding the deficiency in net assets at the balance sheet date. The director considers this to be appropriate having regard to the continued provision of financial support by the company's director and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

NIVA CORPORATION LTD (REGISTERED NUMBER: 07064031)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
equipment
£   
COST
At 1 January 2023
and 31 December 2023 6,886
DEPRECIATION
At 1 January 2023 4,360
Charge for year 379
At 31 December 2023 4,739
NET BOOK VALUE
At 31 December 2023 2,147
At 31 December 2022 2,526

5. STOCKS
2023 2022
£    £   
Stocks 74,000 81,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 38,873 29,028
Other debtors 1,933 4,553
40,806 33,581

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 9,646
Trade creditors 57,526 18,385
Taxation and social security 12,075 4,523
Other creditors 79,298 126,660
158,899 159,214

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,951 25,195

9. RELATED PARTY DISCLOSURES

Other debtors include amounts aggregating £1,933 (2022: £1,933) due from a related company under common control.