Company No:
Contents
| DIRECTOR | E Kolege |
| REGISTERED OFFICE | 8 Gees Court |
| London | |
| W1U 1JQ | |
| United Kingdom |
| COMPANY NUMBER | 13646056 (England and Wales) |
| ACCOUNTANT | S&W Partners (East) LLP |
| Stonecross | |
| Trumpington High Street | |
| Cambridge | |
| CB2 9SU |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 8 | 1 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 528,109 | 382,476 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 189,503 | 71,679 | ||
| Total assets less current liabilities | 189,511 | 71,680 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of NEKP LTD (registered number:
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E Kolege
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
NEKP LTD (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 Gees Court, London, W1U 1JQ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of NEKP LTD is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
The principal activity of the Company during the year was that of an investment company.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Non-financial assets
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Listed investments | Investments in associates | Other investments | Total | ||||
| £ | £ | £ | £ | ||||
| Cost or valuation before impairment | |||||||
| At 01 July 2023 |
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| Additions |
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| At 30 June 2024 |
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| Carrying value at 30 June 2024 |
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| Carrying value at 30 June 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed by associates |
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| Deferred tax asset |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed to Group undertakings |
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| Amounts owed to associates |
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| Amounts owed to director |
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| Accruals |
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| Other taxation and social security |
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| 2024 | 2023 | ||
| £ | £ | ||
| At the beginning of financial year |
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| Credited to the Statement of Income and Retained Earnings |
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| At the end of financial year |
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Transactions with owners holding a participating interest in the entity
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts due from companies | 294,894 | 350,000 |
A loan was provided in the previous year to a related party of £350,000, this was interest bearing at a rate of 15% per annum, the related party repaid £127,000 (including interest of £21,894) in the year.
Transactions with entities in which the entity itself has a participating interest
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts due from related parties | 220,000 | 39,500 | |
| Amounts due to related parties | (65,588) | 0 |