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REGISTERED NUMBER: 05840638 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Nivag Limited

Nivag Limited (Registered number: 05840638)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nivag Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D J Gavin
K Gavin
Mrs F Hawkins





SECRETARY: Mrs F Hawkins





REGISTERED OFFICE: Phoenix Way
Garngoch Industrial Estate
Gorseinon
Swansea
SA4 9WF





REGISTERED NUMBER: 05840638 (England and Wales)





ACCOUNTANTS: DGL Accountancy Services Limited
Chartered Certified Accountants
35 Hen Parc Avenue
Upper Killay
Swansea
SA2 7HA

Nivag Limited (Registered number: 05840638)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 471,906 486,406
Investments 5 50,000 50,000
521,906 536,406

CURRENT ASSETS
Debtors 6 2,425 9,780
Cash at bank 13,052 -
15,477 9,780
CREDITORS
Amounts falling due within one year 7 47,101 59,503
NET CURRENT LIABILITIES (31,624 ) (49,723 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

490,282

486,683

CREDITORS
Amounts falling due after more than
one year

8

605,594

584,884
NET LIABILITIES (115,312 ) (98,201 )

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings (165,312 ) (148,201 )
SHAREHOLDERS' FUNDS (115,312 ) (98,201 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Nivag Limited (Registered number: 05840638)

Balance Sheet - continued
30 April 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 9 January 2025 and were signed on its behalf by:





D J Gavin - Director


Nivag Limited (Registered number: 05840638)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Nivag Limited is a private company, limited by shares , registered in England and Wales. 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 represents rent received.

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

Land and buildings - 2% on cost

Investments in subsidiaries
Investments in subsidiary 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.

3. EMPLOYEES AND DIRECTORS

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

Nivag Limited (Registered number: 05840638)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 May 2023
and 30 April 2024 725,000
DEPRECIATION
At 1 May 2023 238,594
Charge for year 14,500
At 30 April 2024 253,094
NET BOOK VALUE
At 30 April 2024 471,906
At 30 April 2023 486,406

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 50,000
NET BOOK VALUE
At 30 April 2024 50,000
At 30 April 2023 50,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Gavin Electrical Engineering Limited
Registered office:
Nature of business: Electrical engineering services
%
Class of shares: holding
Ordinary 100.00

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors - 7,767
Other debtors 2,425 2,013
2,425 9,780

Nivag Limited (Registered number: 05840638)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 27,000 36,655
Taxation and social security 7,782 6,531
Other creditors 12,319 16,317
47,101 59,503

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 49,869 76,659
Amounts owed to group undertakings 555,725 508,225
605,594 584,884

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 76,869 103,659

10. RELATED PARTY DISCLOSURES

The company owns the entire share capital of Gavin Electrical Engineering Limited. As at 30th April 2024, the company owed Gavin Electrical Engineering Limited £555,725 (2023 : £508,225).

11. ULTIMATE CONTROLLING PARTY

The controlling party is D J Gavin.