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Registration number: 08218101

Nikiarf Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Nikiarf Consulting Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Nikiarf Consulting Limited

Company Information

Director

F J Fraikin

Registered office

114 St Martin's Lane
Covent Garden
London
WC2N 4BE

Accountants

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Nikiarf Consulting Limited

(Registration number: 08218101)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

997

2,549

Current assets

 

Debtors

5

20,847

11,715

Cash at bank and in hand

 

145,209

254,153

 

166,056

265,868

Creditors: Amounts falling due within one year

6

(3,778)

(39,323)

Net current assets

 

162,278

226,545

Net assets

 

163,275

229,094

Capital and reserves

 

Called up share capital

1

1

Retained earnings

163,274

229,093

Shareholders' funds

 

163,275

229,094

 

Nikiarf Consulting Limited

(Registration number: 08218101)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 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 members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 April 2025
 

.........................................
F J Fraikin
Director

 

Nikiarf Consulting Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Retained earnings
£

Total
£

At 1 October 2023

1

229,093

229,094

Loss for the year

-

(45,819)

(45,819)

Dividends

-

(20,000)

(20,000)

At 30 September 2024

1

163,274

163,275




 

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

1

188,060

188,061

Profit for the year

-

41,033

41,033

At 30 September 2023

1

229,093

229,094

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

Principal activity

The principal activity of the Company is the provision of consultancy services and the leasing of assets to customers.

These financial statements were authorised for issue by the director on 1 April 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services and rental equipment in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax and deferred tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line basis

Fixtures and fittings

25% straight line basis

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Debtors

Basic financial assets, including trade and other debtors, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 October 2023

6,835

6,835

Disposals

(4,439)

(4,439)

At 30 September 2024

2,396

2,396

Depreciation

At 1 October 2023

4,286

4,286

Charge for the year

849

849

Eliminated on disposal

(3,736)

(3,736)

At 30 September 2024

1,399

1,399

Carrying amount

At 30 September 2024

997

997

At 30 September 2023

2,549

2,549

5

Debtors

Current

2024
£

2023
£

Trade debtors

722

-

Prepayments

176

253

Other debtors

19,949

11,462

 

20,847

11,715

 

Nikiarf Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

374

1,199

Taxation and social security

-

26,443

Accruals and deferred income

2,737

2,640

Other creditors

667

9,041

3,778

39,323

7

Related party transactions

Summary of transactions with other related parties

The Director

During the year the company made advances to the director totalling £7,329 (2023 - £161) and the director made repayments of £623 (2023 - £1,000), At the balance sheet date the amount due to the director was £623 (2023 - £7,329).

8

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 1 (2023 - 1).