for the Period Ended 30 June 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 30 June 2024
Principal activities of the company
Additional information
Incorporation - NSM Funds (UK) Limited was incorporated on 17 April 2023. The first set of financial statements will run from incorporation until 30 June 2024 to fall in line with the same period / year end as associated companies. Results - The Company was incorporated on 17 April 2023 to offer fund administration services. During the year, the Company has recruited a specialist fund team to service the book as clients onboard. The pipeline was strong and a significant client has signed terms and conditions with the Company and will see increasing revenues in the next financial year. As a start up company and new service offering, NSM Funds (UK) Limited has been supported financially by its parent entity, NSM Fund Holdings Limited. To support the Company, NSM Fund Holdings Limited is contributing to the Company's expenses thus bringing about a loss position. Going Concern - The directors have considered the financial position of the company and have a strong expectation that the Company has adequate trading resources to meet its liabilities as they fall due. However, in addition to this the directors also receive the financial support from the ultimate majority beneficial owner to continue in operational existence for the foreseeable future and therefore present these financial statements on a going concern basis. Dividend - No dividends were paid during the period and the directors do not propose a final dividend. Directors - The directors of the Company who held office during the current period and to the date of signing are as listed on page 1. Secretary - The Secretary of the Company who held office during the current period and to the date of signing are as listed on page 1. Directors' responsibilities - The directors are responsible for preparing the Directors' Report and the financial statements for each financial period which give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period and are in accordance with the Companies Act 2006 and International Financial Accounting Standards (IFRS). In preparing those financial statements the directors are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors confirm that they have complied with the above requirements in preparing the financial statements. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud, error, non-compliance with law and regulations.
Directors
The director shown below has held office during the period of
20 October 2023
to
30 June 2024
The directors shown below have held office during the whole of the period from
17 April 2023
to
30 June 2024
The director shown below has held office during the period of
17 April 2023
to
20 October 2023
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
14 months to 30 June 2024 | ||
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£ |
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Turnover: |
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Cost of sales: |
(
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Gross profit(or loss): |
( |
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Administrative expenses: |
(
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Operating profit(or loss): |
( |
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Profit(or loss) before tax: |
( |
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Profit(or loss) for the financial year: |
( |
As at
Notes | 14 months to 30 June 2024 | ||
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£ |
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Called up share capital not paid: |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Debtors: | 4 |
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Total current assets: |
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Prepayments and accrued income: |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 5 |
(
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Accruals and deferred income: |
(
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Total net assets (liabilities): |
( |
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Capital and reserves | |||
Called up share capital: |
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Profit and loss account: |
( |
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Total Shareholders' funds: |
( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 June 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 30 June 2024
14 months to 30 June 2024 | ||
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Average number of employees during the period |
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for the Period Ended 30 June 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
Additions |
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Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 30 June 2024 |
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Depreciation | ||||||
Charge for year |
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On disposals | ||||||
Other adjustments | ||||||
At 30 June 2024 |
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Net book value | ||||||
At 30 June 2024 |
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for the Period Ended 30 June 2024
14 months to 30 June 2024 | ||
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£ | ||
Trade debtors |
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Total |
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for the Period Ended 30 June 2024
14 months to 30 June 2024 | ||
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£ | ||
Other creditors |
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Total |
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