Company Number: |
|
|
for the financial year ended |
NI Contracts Ltd |
Company Number: |
STATEMENT OF FINANCIAL POSITION | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
as at |
|
2021 | 2020 | |||
£ | £ | |||
Fixed Assets |
|
|
||
───────── | ───────── | |||
Current assets |
|
|
||
Prepayments and accrued income | 24,147 | 25,206 | ||
Creditors: amounts falling due within one year | (228,502) | (179,704) | ||
───────── | ───────── | |||
Net Current Liabilities |
( |
( |
||
───────── | ───────── | |||
Total Assets less Current Liabilities | (38,844) | 1,754 | ||
Creditors: amounts falling due after more than one year | (94,566) | - | ||
Accruals and deferred income | (2,000) | (2,000) | ||
───────── | ───────── | |||
Net Liabilities |
( |
( |
||
═════════ | ═════════ | |||
Capital and Reserves |
( |
( |
||
═════════ | ═════════ | |||
Notes to the financial statements |
1. | General Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NI Contracts Ltd is a private company limited by share incorporated in England. The registered office of the company is 20-22 Wenlock Road, London, N1 7GU. The principle of business is 20-22 Wenlock Road, London, N1 7GU. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. |
2. | Going concern | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The going concern basis assumes that the company will continue in operational existence for the foreseeable future, having adequate funds to meet its obligations as they fall due. The Director has considered the impact of Covid-19 on the future performance of the company. Although the economy may suffer a downturn due to this pandemic, the company's income is currently generated from within the Telecommunications, Transport Infrastructure and Power sectors; deemed essential services and as such has the potential to increase operating activity due to demand and therefore should be relatively unaffected by Covid-19. Consequently, the validity of this assumption depends on the continued support of the UK Government and the companys bankers. The director is continuing to monitor any potential impact on the business. |
3. | Significant Accounting Judgements and Estimates | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects that period. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are described below. (i) Going concern assumption As outlined under the going concern note, the director is aware that current events and conditions relating to the Covid-19 pandemic represent a material uncertainty. The director has made enquiries and considered the uncertainties but has a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable. |
4. | Employees | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The average monthly number of employees, including director, during the financial year was | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number | Number | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Director |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
═════════ | ═════════ |
5. | Post-Balance Sheet Events | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
After the balance sheet date, the companys trading activities were adversely impacted by the effects of the Covid-19 pandemic. The impact is ongoing and wide-reaching; therefore it is not possible to quantify the financial impact of the event. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The company has taken advantage of the exemption under section 444 not to file the Director's Report, Income Statement. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Approved by the Director on |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
________________________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Director |
|
|||
|
|||
|