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Company No: 08517421 (England and Wales)

NAKARA LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2025
Pages for filing with the registrar

NAKARA LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2025

Contents

NAKARA LIMITED

BALANCE SHEET

As at 31 May 2025
NAKARA LIMITED

BALANCE SHEET (continued)

As at 31 May 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 67,007 71,403
Investments 4 6,003 66,003
73,010 137,406
Current assets
Debtors
- due within one year 5 38,586 5,146
- due after more than one year 5 121,142 0
Cash at bank and in hand 47,091 120,193
206,819 125,339
Creditors: amounts falling due within one year 6 ( 80,148) ( 12,139)
Net current assets 126,671 113,200
Total assets less current liabilities 199,681 250,606
Provision for liabilities ( 9,242) ( 8,310)
Net assets 190,439 242,296
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 190,437 242,294
Total shareholder's funds 190,439 242,296

For the financial year ending 31 May 2025 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 Nakara Limited (registered number: 08517421) were approved and authorised for issue by the Director on 21 August 2025. They were signed on its behalf by:

Mr C Gatenby
Director
NAKARA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
NAKARA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
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

Nakara Limited (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 C/O Francis Clark Llp, Melville Building East, Royal William Yard, Plymouth, Devon, PL1 3GW, United Kingdom. The principal place of business is 3 St Andrews Road, Tavistock, Devon, PL19 9BY.

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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 straight-line and reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 June 2024 22,936 62,180 19,506 7,591 112,213
Additions 0 55,595 0 0 55,595
Disposals ( 6,942) ( 62,180) ( 13,667) ( 307) ( 83,096)
At 31 May 2025 15,994 55,595 5,839 7,284 84,712
Accumulated depreciation
At 01 June 2024 9,142 15,545 14,234 1,889 40,810
Charge for the financial year 3,773 12,406 2,003 1,518 19,700
Disposals ( 5,637) ( 23,318) ( 13,666) ( 184) ( 42,805)
At 31 May 2025 7,278 4,633 2,571 3,223 17,705
Net book value
At 31 May 2025 8,716 50,962 3,268 4,061 67,007
At 31 May 2024 13,794 46,635 5,272 5,702 71,403

4. Fixed asset investments

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 June 2024 66,003 66,003
Additions 20,000 20,000
Disposals ( 80,000) ( 80,000)
At 31 May 2025 6,003 6,003
Carrying value at 31 May 2025 6,003 6,003
Carrying value at 31 May 2024 66,003 66,003

5. Debtors

2025 2024
£ £
Debtors: amounts falling due within one year
Trade debtors 780 0
Other debtors 37,806 5,146
38,586 5,146
Debtors: amounts falling due after more than one year
Other debtors 121,142 0

6. Creditors: amounts falling due within one year

2025 2024
£ £
Amounts owed to director 35,059 0
Accruals 1,825 1,750
Taxation and social security 38,264 5,389
Other creditors 5,000 5,000
80,148 12,139

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1
1 Ordinary A share of £ 1.00 1 1
2 2

8. Related party transactions

Transactions with the entity's director

2025 2024
£ £
Opening balance 4,140 0
Advances made to the director 300 4,140
Repayments made by the director (39,500) 0
Year end balance (35,060) 4,140

No interest was levied on the directors loan as the balance never exceeded £10,000.

Other related party transactions

2025 2024
£ £
SIPP Loan 129,351 0

During the year the company loaned £130,000 to a SIPP over a 10 year term in which the director is a trustee. Interest is being charged on this loan at a rate above HMRC's official interest rate.