Company registration number 14848685 (England and Wales)
NSPIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
NSPIC LIMITED
COMPANY INFORMATION
Director
Mr N J Spragg
(Appointed 5 May 2023)
Company number
14848685
Registered office
April Cottage
Baveney Wood
Kidderminster
Worcestershire
DY14 8HT
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Counting Ltd
20-22 Wenlock Rd
Hoxton
London
N1 7GU
NSPIC LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
NSPIC LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NSPIC LIMITED FOR THE PERIOD ENDED 31 MAY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NSPIC Limited for the period ended 31 May 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of NSPIC Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NSPIC Limited and state those matters that we have agreed to state to the board of directors of NSPIC Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NSPIC Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that NSPIC Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NSPIC Limited. You consider that NSPIC Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of NSPIC Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
29 January 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
NSPIC LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 2 -
2024
Notes
£
£
Fixed assets
Investments
3
596
Current assets
Debtors
4
250,941
Cash at bank and in hand
5,891
256,832
Creditors: amounts falling due within one year
5
(8,065)
Net current assets
248,767
Net assets
249,363
Capital and reserves
Called up share capital
6
696
Profit and loss reserves
248,667
Total equity
249,363

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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 and signed by the director and authorised for issue on 29 January 2025
Mr N J Spragg
Director
Company registration number 14848685 (England and Wales)
NSPIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

NSPIC Limited is a private company limited by shares incorporated in England and Wales. The registered office is April Cottage, Baveney Wood, Kidderminster, Worcestershire, England, DY14 8HT.

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 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
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
1
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
596
NSPIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries and joint ventures
£
Cost or valuation
At 5 May 2023
-
Additions
596
At 31 May 2024
596
Carrying amount
At 31 May 2024
596
4
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
250,941
5
Creditors: amounts falling due within one year
2024
£
Other creditors
8,065
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary A of £1 each
695
696

On incorporation 100 Ordinary A shares of £1 were allotted and fully paid for cash at par.

 

During the period a 595 Ordinary A shares of £1, and 1 Ordinary A share of £1 were allotted and fully paid by way of a share for share exchange.

7
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

NSPIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 5 -
8
Comparatives

This is the company's first period of trade, therefore there are no comparatives.

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