Company registration number 10163562 (England and Wales)
NRMS GLOBAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NRMS GLOBAL LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
NRMS GLOBAL LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
31 October 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,879
4,476
Investments
5
787
787
4,666
5,263
Current assets
Debtors
6
1,548,531
341,185
Cash at bank and in hand
25,023
3,267
1,573,554
344,452
Creditors: amounts falling due within one year
7
(1,471,583)
(237,948)
Net current assets
101,971
106,504
Net assets
106,637
111,767
Capital and reserves
Called up share capital
8
300
300
Profit and loss reserves
106,337
111,467
Total equity
106,637
111,767
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 2 December 2024 and are signed on its behalf by:
PM Jolliffe
D Kaplan
Director
Director
Company registration number 10163562 (England and Wales)
NRMS GLOBAL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 November 2021
300
93,897
94,197
Year ended 31 October 2022:
Profit and total comprehensive income for the year
-
97,570
97,570
Dividends
-
(80,000)
(80,000)
Balance at 31 October 2022
300
111,467
111,767
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
178,537
178,537
Dividends
-
(183,667)
(183,667)
Balance at 31 December 2023
300
106,337
106,637
NRMS GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
NRMS Global Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, 10 Hill Avenue, Amersham, Bucks, England, HP6 5BW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Reporting period
The financial statements are for the 14 month period from 1 November 2022 - 31 December 2023. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.3
Turnover
Turnover relates to royalties received from other group companies.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
Straight Line 4 Years
Fixtures and fittings
Straight Line 4 Years
Computers
Straight Line 3 Years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
NRMS GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
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 amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
NRMS GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
3
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022
20,634
Additions
2,328
Disposals
(7,516)
At 31 December 2023
15,446
Depreciation and impairment
At 1 November 2022
16,158
Depreciation charged in the year
2,925
Eliminated in respect of disposals
(7,516)
At 31 December 2023
11,567
Carrying amount
At 31 December 2023
3,879
At 31 October 2022
4,476
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
787
787
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,545,351
338,452
Other debtors
3,180
2,733
1,548,531
341,185
NRMS GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
139
36
Amounts owed to group undertakings
1,398,538
216,725
Corporation tax
54,703
1,753
Other taxation and social security
605
206
Other creditors
17,598
19,228
1,471,583
237,948
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
B Shares (ordinary non voting) of £1 each
100
100
100
100
C Shares (ordinary non voting) of £1 each
100
100
100
100
300
300
300
300
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Paul Windmill
Statutory Auditor:
Myers Clark