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Company No: 07452871 (England and Wales)

NIB CONSULTING LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

NIB CONSULTING LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

NIB CONSULTING LTD

BALANCE SHEET

As at 31 December 2024
NIB CONSULTING LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investments 4 21,137 20,133
21,137 20,133
Current assets
Debtors 5 36,042 39,733
Cash at bank and in hand 290,034 250,161
326,076 289,894
Creditors: amounts falling due within one year 6 ( 4,120) ( 2,105)
Net current assets 321,956 287,789
Total assets less current liabilities 343,093 307,922
Net assets 343,093 307,922
Capital and reserves
Called-up share capital 7 100 100
Revaluation reserve 6,616 5,612
Profit and loss account 336,377 302,210
Total shareholders' funds 343,093 307,922

For the financial year ending 31 December 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 financial statements of NIB Consulting Ltd (registered number: 07452871) were approved and authorised for issue by the Director on 07 May 2025. They were signed on its behalf by:

Mr N Boulton
Director
NIB CONSULTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
NIB CONSULTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

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.

General information and basis of accounting

NIB Consulting 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 Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue based on it’s value of the services provided to date.

Taxation

Current tax
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 Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 January 2024 13,552 13,552
At 31 December 2024 13,552 13,552
Accumulated depreciation
At 01 January 2024 13,552 13,552
At 31 December 2024 13,552 13,552
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 20,133 20,133
Movement in fair value 1,004 1,004
At 31 December 2024 21,137 21,137
Carrying value at 31 December 2024 21,137 21,137
Carrying value at 31 December 2023 20,133 20,133

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 33,603 33,241
Amounts owed by director 0 4,053
Corporation tax 2,439 2,439
36,042 39,733

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 1,159 0
Accruals 501 2,001
Corporation tax 2,460 104
4,120 2,105

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
70 Ordinary A shares of £ 1.00 each 70 70
30 Ordinary B shares of £ 1.00 each 30 30
100 100

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Opening balance 4,053 (27,635)
Plus loan advances made in the year 20,500 56,000
Less loan repayments in the year (25,712) (24,312)
Closing balance (1,159) 4,053

During the year, the company operated a loan account with its director. The loan is repayable on demand and interest is charged on balances over £10,000 at the rate stipulated by HMRC.