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REGISTERED NUMBER: SC202578 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Naver Limited

Naver Limited (Registered number: SC202578)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Naver Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D D McGillivray
W J McGillivray





REGISTERED OFFICE: Naver House
Naver Road
Thurso
Caithness
KW14 7QA





REGISTERED NUMBER: SC202578 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

Naver Limited (Registered number: SC202578)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,939 2,366
Investments 5 18,000 18,000
21,939 20,366

CURRENT ASSETS
Debtors 6 5,037 4,023
Cash at bank and in hand 6,101 5,731
11,138 9,754
CREDITORS
Amounts falling due within one year 7 (14,809 ) (13,001 )
NET CURRENT LIABILITIES (3,671 ) (3,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,268

17,119

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 18,168 17,019
SHAREHOLDERS' FUNDS 18,268 17,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Naver Limited (Registered number: SC202578)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





D D McGillivray - Director


Naver Limited (Registered number: SC202578)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Naver Limited is a private company, limited by shares , registered in Scotland. 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.

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
Tangible fixed assets are originally recorded at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Tenant's improvementsstraight line over 21 years
Plant25% reducing balance
Office equipment25% reducing balance
Fixtures and fittings25% reducing balance

INVESTMENTS IN ASSOCIATES
Investments in associate undertakings are recognised at cost.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Naver Limited (Registered number: SC202578)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Tenant's Plant and and Office
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 322,125 1,700 68,691 70,754 463,270
Additions - - 239 2,676 2,915
Disposals - - - (455 ) (455 )
At 31 March 2024 322,125 1,700 68,930 72,975 465,730
DEPRECIATION
At 1 April 2023 322,125 1,700 67,730 69,349 460,904
Charge for year - - 299 1,013 1,312
Eliminated on disposal - - - (425 ) (425 )
At 31 March 2024 322,125 1,700 68,029 69,937 461,791
NET BOOK VALUE
At 31 March 2024 - - 901 3,038 3,939
At 31 March 2023 - - 961 1,405 2,366

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 18,000
NET BOOK VALUE
At 31 March 2024 18,000
At 31 March 2023 18,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,619 3,584
Amounts owed by associates 418 -
Other debtors - 439
5,037 4,023

Naver Limited (Registered number: SC202578)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,179 3,619
Amounts owed to group undertakings - 4,431
Corporation tax 1,411 764
Social security and other taxes 1,282 1,590
Other creditors 6,937 2,597
14,809 13,001

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D D McGillivray.