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Registered number: 08428005










NS SOLUTIONS IT CONSULTING EUROPE LTD.










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NS SOLUTIONS IT CONSULTING EUROPE LTD.
 
 
COMPANY INFORMATION


Director
Hiroaki Komatsu 




Registered number
08428005



Registered office
Building 3 Chiswick Park
566 Chiswick High Road

Chiswick

London

W4 5YA




Independent auditors
Greenback Alan LLP
Chartered Accountants

89 Spa Road

London

SE16 3SG




Bankers
MUFG Bank, Ltd.
25 Ropemaker Street

London

EC2Y 9AN





 
NS SOLUTIONS IT CONSULTING EUROPE LTD.
 

CONTENTS



Page
Balance sheet
1
Notes to the financial statements
2 - 5


 
NS SOLUTIONS IT CONSULTING EUROPE LTD.
REGISTERED NUMBER:08428005

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
58,467
53,770

Cash at bank and in hand
 5 
947,498
944,645

  
1,005,965
998,415

Creditors: amounts falling due within one year
 6 
(91,060)
(112,363)

Net current assets
  
 
 
914,905
 
 
886,052

Total assets less current liabilities
  
914,905
886,052

  

Net assets
  
914,905
886,052


Capital and reserves
  

Called up share capital 
  
400,000
400,000

Profit and loss account
  
514,905
486,052

  
914,905
886,052


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 June 2024.




................................................
Hiroaki Komatsu
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
NS SOLUTIONS IT CONSULTING EUROPE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

NS Solutions IT Consulting Europe Ltd. is a private limited company incorporated in England and Wales. The address of the registered office is Building 3 Chiswick Park, 566 Chiswick High Road, London, W4 5YA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 2

 
NS SOLUTIONS IT CONSULTING EUROPE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of
trade and other debtors and creditors.
Financial assets that are measured at cost are assessed at the end of each reporting period for
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is
recognised in the Statement of comprehensive income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 3).

Page 3

 
NS SOLUTIONS IT CONSULTING EUROPE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
35,746
33,190

Amounts owed by group undertakings
15,167
15,167

Other debtors
4,462
1,600

Prepayments and accrued income
3,092
3,813

58,467
53,770



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
947,498
944,645

947,498
944,645



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,043
1,256

Amounts owed to group undertakings
34,433
40,872

Corporation tax
2,706
1,303

Other taxation and social security
40,178
57,732

Accruals and deferred income
11,700
11,200

91,060
112,363



7.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
2,592
2,364

Later than 1 year and not later than 5 years
603
603

3,195
2,967

Page 4

 
NS SOLUTIONS IT CONSULTING EUROPE LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Parent and controlling party

The parent of the smallest group for which consolidated financial statements are drawn up, of which the company is a member, is NS Solutions Corporation, a company incorporated in Japan, the registered address of which is 17-1, Toranomon 1-chome Minato-ku, Tokyo, Japan, 105-6417.
The company regarded by the directors as being the company's ultimate parent company is Nippon Steel Corporation, a company incorporated in Japan.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 26 June 2024 by Jon Fisher (Senior statutory auditor) on behalf of Greenback Alan LLP.

 
Page 5