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Company Registration Number 06493112























NIRVANA WORLD LIMITED





UNAUDITED
FINANCIAL STATEMENTS





 31 OCTOBER 2024























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NIRVANA WORLD LIMITED
REGISTERED NUMBER: 06493112

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

  

Current assets
  

Cash at bank and in hand
  
-
4,854

  
-
4,854

Creditors: amounts falling due within one year
 4 
(8,611)
(13,465)

Net current liabilities
  
 
 
(8,611)
 
 
(8,611)

Total assets less current liabilities
  
(8,611)
(8,611)

  

Net liabilities
  
(8,611)
(8,611)


Capital and reserves
  

Called up share capital 
  
2,500
2,500

Profit and loss account
  
(11,111)
(11,111)

  
(8,611)
(8,611)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 March 2025.

N D Morris
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
NIRVANA WORLD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Osprey House, Kingfisher Way, Silverlink Buiness Park, Wallsend, Tyne and Wear, NE28 9NX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is under the continuing support of it's holding company. On this basis the directors feel it appropriate to prepare the accounts on the going concern basis.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 2

 
NIRVANA WORLD LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.



3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


4.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
8,611
12,345

Accruals and deferred income
-
1,120

8,611
13,465



5.


Related party transactions

During the year, the company used a loan account to record amounts due to and from Nirvana Europe Limited, its parent company. At the year end, the balance owed by the company to Nirvana Europe was £8,611 (2023: £12,345). The loan is unsecured, interest free and no fixed terms of repayment have been agreed.


6.


Controlling party

The company is a subsidiary of Nirvana Europe Limited by virtue of it holding all share capital.


Page 3