Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mrs R E Elston 31/03/2021 Mr R C Fowler 31/03/2021 Mr N R Fowler 31/03/2021 Mrs S N L Fowler 31/03/2021 15 November 2024 The principal activity of the company in the year was the letting and operating of own or leased real estate. 13304754 2024-03-31 13304754 bus:Director1 2024-03-31 13304754 bus:Director2 2024-03-31 13304754 bus:Director3 2024-03-31 13304754 bus:Director4 2024-03-31 13304754 2023-03-31 13304754 core:CurrentFinancialInstruments 2024-03-31 13304754 core:CurrentFinancialInstruments 2023-03-31 13304754 core:ShareCapital 2024-03-31 13304754 core:ShareCapital 2023-03-31 13304754 core:RetainedEarningsAccumulatedLosses 2024-03-31 13304754 core:RetainedEarningsAccumulatedLosses 2023-03-31 13304754 core:InvestmentPropertyIncludedWithinPPE 2023-03-31 13304754 core:InvestmentPropertyIncludedWithinPPE 2024-03-31 13304754 bus:OrdinaryShareClass1 2024-03-31 13304754 2023-04-01 2024-03-31 13304754 bus:FilletedAccounts 2023-04-01 2024-03-31 13304754 bus:SmallEntities 2023-04-01 2024-03-31 13304754 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13304754 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13304754 bus:Director1 2023-04-01 2024-03-31 13304754 bus:Director2 2023-04-01 2024-03-31 13304754 bus:Director3 2023-04-01 2024-03-31 13304754 bus:Director4 2023-04-01 2024-03-31 13304754 2022-04-01 2023-03-31 13304754 core:InvestmentPropertyIncludedWithinPPE 2023-04-01 2024-03-31 13304754 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13304754 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13304754 (England and Wales)

NISARO LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

NISARO LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

NISARO LIMITED

BALANCE SHEET

As at 31 March 2024
NISARO LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 200,000 181,135
200,000 181,135
Current assets
Debtors 4 4,388 187
Cash at bank and in hand 10,439 8,994
14,827 9,181
Creditors: amounts falling due within one year 5 ( 193,222) ( 204,197)
Net current liabilities (178,395) (195,016)
Total assets less current liabilities 21,605 (13,881)
Net assets/(liabilities) 21,605 ( 13,881)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 7 21,505 ( 13,981 )
Total shareholders' funds/(deficit) 21,605 ( 13,881)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of NISARO Limited (registered number: 13304754) were approved and authorised for issue by the Board of Directors on 15 November 2024. They were signed on its behalf by:

Mr N R Fowler
Director
NISARO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
NISARO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

NISARO Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 3 Swifts Units, Pound Lane, Exmouth, EX8 4NP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. The financial statements have therefore been prepared on a going concern basis.

Turnover

Turnover is stated net of VAT and represents rental income receivable. Rental income receivable is accounted for in the period to which it relates.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Investment property Total
£ £
Cost
At 01 April 2023 181,135 181,135
Revaluations 18,865 18,865
At 31 March 2024 200,000 200,000
Accumulated depreciation
At 01 April 2023 0 0
At 31 March 2024 0 0
Net book value
At 31 March 2024 200,000 200,000
At 31 March 2023 181,135 181,135

The directors have considered the investment property value at the balance sheet date. The directors believe that the property's open market value is £200,000 as at the balance sheet date and have therefore reflected this within these accounts accordingly.

4. Debtors

2024 2023
£ £
Trade debtors 4,200 0
Other debtors 188 187
4,388 187

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 5,499 16,763
Taxation and social security 979 690
Other creditors 186,744 186,744
193,222 204,197

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary share shares of £ 1.00 each 100 100

7. Distributable Reserves

Included within the profit and loss reserve account of £21,505 is £18,865 of non-distributable reserves. This is in respect of the property revaluation.