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Company registration number: 09941769
Naga Advisory Limited
Unaudited filleted financial statements
31 December 2024
Naga Advisory Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Naga Advisory Limited
Directors and other information
Director Mr C H F Methven
Secretary Mr S Senthuran
Company number 09941769
Registered office The Chilterns Fox
Ibstone Road
High Wycombe
HP14 3XT
Accountants Redford & Co Limited
Chartered Accountants
First Floor
64 Baker Street
London
W1U 7GB
Naga Advisory Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 5 361,072 361,072
Cash at bank and in hand 164 164
_______ _______
361,236 361,236
Creditors: amounts falling due
within one year 6 ( 320,525) ( 320,525)
_______ _______
Net current assets 40,711 40,711
_______ _______
Total assets less current liabilities 40,711 40,711
_______ _______
Net assets 40,711 40,711
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,611 40,611
_______ _______
Shareholders funds 40,711 40,711
_______ _______
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:
Mr C H F Methven
Director
Company registration number: 09941769
Naga Advisory Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Chilterns Fox, Ibstone Road, High Wycombe, HP14 3XT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024 2023
£ £
Trade debtors 1,010 1,010
Other debtors 360,062 360,062
_______ _______
361,072 361,072
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 5,324 5,324
Other creditors 315,201 315,201
_______ _______
320,525 320,525
_______ _______
7. Related party transactions
During the year, the company has a loan with Dragon Associates Limited, a company in which the director Mr C H F Methven is also a director and shareholder. The loan is interest free, unsecured and repayable on demand. The balance outstanding at the year end was £211,501 (2023: £211,501) and is shown under other creditors. During the year, the company has a loan with Dragon PR Ltd, a company in which the director Mr C H F Methven is also a director and shareholder. The loan is interest free, unsecured and repayable on demand. The balance outstanding at the year end was £101,800 (2023: £101,800) and is shown under other creditors. During the year, the company has a loan with The Chilterns Fox Ltd, a company in which the director Mr C H F Methven is also a director and shareholder. The loan is interest free, unsecured and repayable on demand. The balance outstanding at the year end was £360,000 (2023: £360,000) and is shown under other debtors.
8. Controlling party
The company was controlled throughout the year by Mr C H F Methven , by virtue of his 100% holding of the share capital in the company.