0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,190 741 3,931 1,009 786 1,795 2,136 2,181 xbrli:pure xbrli:shares iso4217:GBP 12645545 2023-07-01 2024-06-30 12645545 2024-06-30 12645545 2023-06-30 12645545 2022-07-01 2023-06-30 12645545 2023-06-30 12645545 2022-06-30 12645545 core:FurnitureFittings 2023-07-01 2024-06-30 12645545 bus:Director1 2023-07-01 2024-06-30 12645545 core:FurnitureFittings 2023-06-30 12645545 core:FurnitureFittings 2024-06-30 12645545 core:WithinOneYear 2024-06-30 12645545 core:WithinOneYear 2023-06-30 12645545 core:ShareCapital 2024-06-30 12645545 core:ShareCapital 2023-06-30 12645545 core:RetainedEarningsAccumulatedLosses 2024-06-30 12645545 core:RetainedEarningsAccumulatedLosses 2023-06-30 12645545 core:FurnitureFittings 2023-06-30 12645545 bus:SmallEntities 2023-07-01 2024-06-30 12645545 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12645545 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12645545 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12645545 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 12645545
NIF Group Limited
Filleted Unaudited Financial Statements
30 June 2024
NIF Group Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
2,136
2,181
Current assets
Debtors
5
3,163
2,288
Cash at bank and in hand
2,528
11,371
-------
--------
5,691
13,659
Creditors: amounts falling due within one year
6
7,204
6,344
-------
--------
Net current (liabilities)/assets
( 1,513)
7,315
-------
-------
Total assets less current liabilities
623
9,496
----
-------
Net assets
623
9,496
----
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
622
9,495
----
-------
Shareholder funds
623
9,496
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NIF Group Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 March 2025 , and are signed on behalf of the board by:
Mr N Ipinson-Fleming
Director
Company registration number: 12645545
NIF Group Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 1 Picton Lane, Swansea, SA1 4AF, Wales.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Fixtures and fittings
£
Cost
At 1 July 2023
3,190
Additions
741
-------
At 30 June 2024
3,931
-------
Depreciation
At 1 July 2023
1,009
Charge for the year
786
-------
At 30 June 2024
1,795
-------
Carrying amount
At 30 June 2024
2,136
-------
At 30 June 2023
2,181
-------
5. Debtors
2024
2023
£
£
Trade debtors
2,295
1,300
Other debtors
868
988
-------
-------
3,163
2,288
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
956
834
Corporation tax
4,951
4,243
Other creditors
1,297
1,267
-------
-------
7,204
6,344
-------
-------