Company Registration No. 04605521 (England and Wales)
NSK HOME DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2019
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 2019
30 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
4
8,394
10,365
Current assets
Debtors
21,327
17,023
Cash at bank and in hand
15,050
3,704
36,377
20,727
Creditors: amounts falling due within one year
5
(33,305)
(29,741)
Net current assets/(liabilities)
3,072
(9,014)
Net assets
11,466
1,351
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
11,366
1,251
Total equity
11,466
1,351
In accordance with section 444 of the Companies Act 2006 all
of
the members of the company have consented to the
preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).
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 Period ended 30 December 2019 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 member has not required the company to obtain an audit of its financial statements for the Period 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 31 May 2021
Mr S Patel
Director
Company Registration No. 04605521
NSK HOME DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2019
- 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
140 Buckingham Palace Road, London, 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
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
NSK HOME DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2019
- 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 Period was:
2019
2018
Number
Number
Total
3
2
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 31 December 2018 and 30 December 2019
8,280
1,000
10,460
19,740
Depreciation and impairment
At 31 December 2018
2,484
984
5,907
9,375
Depreciation charged in the Period
828
4
1,138
1,970
At 30 December 2019
3,312
988
7,045
11,346
Carrying amount
At 30 December 2019
4,968
12
3,413
8,393
At 30 December 2018
5,796
16
4,553
10,365
NSK HOME DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2019
- 4 -
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
786
Corporation tax
1,436
5,341
Other taxation and social security
745
4,228
Other creditors
31,124
19,386
33,305
29,741
6
Called up share capital
2019
2018
2019
2018
Ordinary share capital
Number
Number
£
£
Issued and fully paid
"A" Ordinary Shares of £1 each
100
100
100
100
7
Control
The company was under the control of it's director during the year.