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Company Registration No. 07417856 (England and Wales)
Niveda Group Ltd Unaudited accounts for the year ended 31 March 2024
Niveda Group Ltd Unaudited accounts Contents
Page
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Niveda Group Ltd Company Information for the year ended 31 March 2024
Directors
Jayendrakumar Lakhamshibhai SHAH Indumati Jayendrakumar SHAH BHAVIK J SHAH FAMILY OFFICE (UK) LTD
Company Number
07417856 (England and Wales)
Registered Office
Flat 1 Creffield Lodge 2-4 Creffield Road London London W5 3HP England
Accountants
IG Accounting & Auditing Ltd Chartered Certified Accountants & Registered Auditors 90 Sutherland Avenue Welling DA16 2NP
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Niveda Group Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
260 
260 
Current assets
Debtors
1,784,425 
1,728,147 
Cash at bank and in hand
8,057 
5,929 
1,792,482 
1,734,076 
Creditors: amounts falling due within one year
(30,399)
(50,599)
Net current assets
1,762,083 
1,683,477 
Total assets less current liabilities
1,762,343 
1,683,737 
Creditors: amounts falling due after more than one year
(3,516,150)
(3,378,125)
Provisions for liabilities
Other provisions
(74,584)
(115,265)
Net liabilities
(1,828,391)
(1,809,653)
Capital and reserves
Called up share capital
10,060 
10,060 
Profit and loss account
(1,838,451)
(1,819,713)
Shareholders' funds
(1,828,391)
(1,809,653)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by
Jayendrakumar Lakhamshibhai SHAH Director Company Registration No. 07417856
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Niveda Group Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Niveda Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 07417856. The registered office is Flat 1, Creffield Lodge, 2-4 Creffield Road, London, London, W5 3HP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
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 a mounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Presentation currency
The accounts are presented in £ sterling.
3.1 Cask at bank and in hand
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.
3.2 Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 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. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of
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Niveda Group Ltd Notes to the Accounts for the year ended 31 March 2024
its 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
3.3 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. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
3.4 Taxation
The tax expense represents the sum of the tax currently payable . 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.
3.5 Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
3.6 Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are 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 estimate and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recgonised 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.
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Niveda Group Ltd Notes to the Accounts for the year ended 31 March 2024
Going concern
Director’s Statement The directors have assessed the company’s financial position and believe it can continue operating as a going concern. Steps have been taken to manage cash flow, reduce costs, and secure additional funding where needed. Based on these measures, the financial statements have been prepared on a going concern basis. Creditors’ Statement The company has engaged with its key creditors, who have expressed their support through revised payment terms and temporary relief measures. These arrangements, along with the company’s cash flow management, ensure that obligations can be met.
4
Investments
Subsidiary undertakings 
£ 
Valuation at 1 April 2023
260 
Valuation at 31 March 2024
260 
Interests in subsidiaries 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. The company's investment in quoted shares is held for long-term investment. They are carried at cost and not measured at fair value. The directors do not consider that the market value of listed investments represents a permanent diminution in value. This is a departure from the general requirement of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". FRS 102 requires the use of fair value in the measurement of investments in shares which are publicly traded or where the fair value can be measured reliably.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
4,093 
- 
Trade debtors
3,019 
10,134 
Amounts due from group undertakings etc.
34,384 
34,384 
41,496 
44,518 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
1,723,099 
1,663,799 
Accrued income and prepayments
19,830 
19,830 
1,742,929 
1,683,629 
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Niveda Group Ltd Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
5,662 
Trade creditors
21,558 
40,378 
Taxes and social security
523 
523 
Other creditors
3,019 
3,019 
Loans from directors
4,519 
22 
Accruals
780 
995 
30,399 
50,599 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
39,511 
42,629 
Amounts owed to group undertakings and other participating interests
3,476,639 
3,335,496 
3,516,150 
3,378,125 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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