Company No: 08517421 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	47,204		67,007
Investments	4	6,003		6,003
		53,207		73,010
Current assets
Debtors
- due within one year	5	22,092		38,586
- due after more than one year	5	112,933		121,142
Cash at bank and in hand		26,493		47,091
		161,518		206,819
Creditors: amounts falling due within one year	6	( 150,525)		( 80,148)
Net current assets		10,993		126,671
Total assets less current liabilities		64,200		199,681
Provision for liabilities		( 9,424)		( 9,242)
Net assets		54,776		190,439
Capital and reserves
Called-up share capital	7	2		2
Profit and loss account		54,774		190,437
Total shareholder's funds		54,776		190,439

For the financial year ending 31 May 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Nakara Limited (registered number: 08517421) were approved and authorised for issue by the Director on 10 August 2026. They were signed on its behalf by:

C J Gatenby Director

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

	2026		2025
	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 2025	15,994		55,595		5,839		7,284		84,712
Additions	0		0		0		1,274		1,274
Disposals	( 5,018)		0		( 2,265)		( 791)		( 8,074)
At 31 May 2026	10,976		55,595		3,574		7,767		77,912
Accumulated depreciation
At 01 June 2025	7,278		4,633		2,571		3,223		17,705
Charge for the financial year	3,199		12,741		1,168		1,691		18,799
Disposals	( 3,625)		0		( 1,565)		( 606)		( 5,796)
At 31 May 2026	6,852		17,374		2,174		4,308		30,708
Net book value
At 31 May 2026	4,124		38,221		1,400		3,459		47,204
At 31 May 2025	8,716		50,962		3,268		4,061		67,007

4. Fixed asset investments

	Investments in associates		Total
	£		£
Cost or valuation before impairment
At 01 June 2025	6,003		6,003
At 31 May 2026	6,003		6,003
Carrying value at 31 May 2026	6,003		6,003
Carrying value at 31 May 2025	6,003		6,003

5. Debtors

	2026		2025
	£		£
Debtors: amounts falling due within one year
Trade debtors	0		780
Other debtors	22,092		37,806
	22,092		38,586
Debtors: amounts falling due after more than one year
Other debtors	112,933		121,142

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Amounts owed to director	121,746		35,059
Accruals	1,950		1,825
Taxation and social security	21,829		38,264
Other creditors	5,000		5,000
	150,525		80,148

7. Called-up share capital

	2026		2025
	£		£
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

Other related party transactions

	2026		2025
	£		£
SIPP Loan	121,142		129,351

During the previous 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.