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Registered number: 14323161
NYAMIN LTD
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 31 August 2025
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NYAMIN LTD
Registered number: 14323161
Statement of Financial Position
As at 31 August 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Total shareholder's deficit
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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 comprehensive income 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 by:
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NYAMIN LTD
Registered number: 14323161
Statement of Financial Position (continued)
As at 31 August 2025
The notes on pages 4 to 10 form part of these financial statements.
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NYAMIN LTD
Statement of Changes in Equity
For the Year Ended 31 August 2025
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Total comprehensive loss for the year
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Total comprehensive loss for the year
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The notes on pages 4 to 10 form part of these financial statements.
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NYAMIN LTD
Notes to the Financial Statements
For the Year Ended 31 August 2025
Nyamin Ltd ("the Company") is a private company limited by shares and incorporated in England and Wales under the Companies Act 2006. The Company's registered office address is 45 Mount Street, London, United Kingdom, W1K 2RZ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company and its subsidiary undertakings qualify as a small group as set out in section 383 of the Companies Act 2006 and the Company is considered eligible for the exemption to prepare consolidated financial statements.
The Company acts as an investment holding company and neither trades nor has any individual liabilities. At the year end the Company had net liabilities of £87,790. Any further investments would require approval and funding from the shareholders. The Company is dependent upon the continued financial support of the shareholder to continue operating and to meet its liabilities as they fall due, and the shareholder agrees to continue to provide financial support to the Company. Accordingly the directors have prepared these financial statements on a going concern basis.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Interest income is recognised in profit or loss using the effective interest method.
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NYAMIN LTD
Notes to the Financial Statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is provided on the following basis:
During the year, the Company applied 7% depreciation on boat and during the first year depreciation rate 10% was applied as per FRS 102.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
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NYAMIN LTD
Notes to the Financial Statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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NYAMIN LTD
Notes to the Financial Statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Basic financial liabilities
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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NYAMIN LTD
Notes to the Financial Statements
For the Year Ended 31 August 2025
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During the year, the Company has no employees other than the 2 Directors (2024: 2), who did not receive any remuneration (2024: £nil).
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Investments in subsidiary companies
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Foreign exchange movement
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NYAMIN LTD
Notes to the Financial Statements
For the Year Ended 31 August 2025
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The following were subsidiary undertakings of the Company:
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73 Cornhill Cornhill, London, England, EC3V 3QQ
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Debtors: amounts falling due within one year
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Amounts owed by group undertakings
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Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
Other debtors of £49,140 (2024: £nil) represent amounts owed by Rupert William Hackwill, a director of the company. The amount is unsecured, interest free and repayable on demand.
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
Included within amounts owed to group undertakings is a balance due to Son Massot of EUR 612,000 (2024: EUR 3,000) and a balance due to Cap Falco, the parent company, of EUR 5,108,620 (2024: EUR 5,108,620). The Sterling equivalent of these balances is £530,475 due to Son Massot (2024: £2,525) and £4,428,100 due to Cap Falco (2024: £4,299,925).
During the year, the Company recognised a foreign exchange loss of approximately £149,000 arising from the retranslation of balances denominated in Euros.
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NYAMIN LTD
Notes to the Financial Statements
For the Year Ended 31 August 2025
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Allotted, called up and fully paid
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1 (2024: 1) Ordinary share of £1
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Related party transactions
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The Company has taken exemption under Section 33.1A of FRS 102 not to disclose transactions with other wholly owned group companies on the grounds that 100% of the voting rights in the Company are controlled within that group.
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Post balance sheet events
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There were no material events subsequent to the year end that are required to be disclosed.
The immediate and ultimate parent undertaking is Cap Falco Holdings Ltd, a company incorporated in Jersey.
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