Company registration number 04605521 (England and Wales)
NSK HOME DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
NSK HOME DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NSK HOME DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
30 DECEMBER 2021
30 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
14,732
6,709
Current assets
Debtors
74,040
24,865
Cash at bank and in hand
21,401
55,140
95,441
80,005
Creditors: amounts falling due within one year
5
(50,626)
(52,415)
Net current assets
44,815
27,590
Net assets
59,547
34,299
Capital and reserves
Called up share capital
6
120
100
Profit and loss reserves
59,427
34,199
Total equity
59,547
34,299
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 17 December 2022
Mr S Patel
Director
Company Registration No. 04605521
NSK HOME DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2021
- 2 -
1
Accounting policies
Company information
NSK Home Developments Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
134 Buckingham Palace Road, London, UK, SW1W 9SA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% on Cost
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
NSK HOME DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2021
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 31 December 2020
8,280
1,000
10,460
19,740
Additions
15,225
15,225
Disposals
(10,460)
(10,460)
At 30 December 2021
8,280
1,000
15,225
24,505
Depreciation and impairment
At 31 December 2020
4,140
991
7,899
13,030
Depreciation charged in the year
828
8
3,806
4,642
Eliminated in respect of disposals
(7,899)
(7,899)
At 30 December 2021
4,968
999
3,806
9,773
Carrying amount
At 30 December 2021
3,312
1
11,419
14,732
At 30 December 2020
4,140
9
2,560
6,709
NSK HOME DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2021
- 4 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Other borrowings
34,450
39,000
Corporation tax
8,545
6,838
Other taxation and social security
1,056
727
Accruals and deferred income
6,575
5,850
50,626
52,415
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
"A" Ordinary Shares of £1 each
100
100
100
100
"B" Ordinary Shares of £1 each
20
-
20
-
120
100
120
100
During the year the company issued
2
0 ordinary
B
shares of £1 each at par.
7
Control
The company was under the control of it's director during the year.