| Ni-Suwa Services Limited |
| Notes to the Accounts |
| for the year ended 31 March 2019 |
|
|
| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover - Services |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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|
Computer equipment |
33% Straight line |
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Other equipment |
20% Straight line |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2019 |
|
2018 |
| Number |
Number |
|
|
Average number of persons employed by the company including paid directors and office holders |
|
1 |
|
1 |
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| 3 |
Tangible fixed assets |
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Equipment |
| £ |
|
Cost |
|
At 1 April 2018 |
8,902 |
|
At 31 March 2019 |
8,902 |
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|
|
|
|
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|
|
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Depreciation |
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At 1 April 2018 |
4,195 |
|
Charge for the year |
1,787 |
|
At 31 March 2019 |
5,982 |
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|
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Net book value |
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At 31 March 2019 |
2,920 |
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At 31 March 2018 |
4,707 |
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| 4 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 April 2018 |
2,218 |
|
Revaluation |
1,294 |
|
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At 31 March 2019 |
3,512 |
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| 5 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
12,120 |
|
10,773 |
|
Other debtors |
5,420 |
|
182 |
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|
|
|
|
|
17,540 |
|
10,955 |
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Included in other debtors is a loan of £5,375 to the director of the company, Stephen Idahosa. The loan is interest free and repayable on demand. |
|
| 6 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Corporation tax |
13,835 |
|
11,935 |
|
Other taxes and social security costs |
7,877 |
|
7,277 |
|
Director's current account |
- |
|
1,079 |
|
|
|
|
|
|
21,712 |
|
20,291 |
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| 7 |
Fair value reserve |
2019 |
|
2018 |
| £ |
£ |
|
|
At 1 April 2018 |
1,576 |
|
- |
|
Gain on revaluation of land and buildings |
1,294 |
|
1,576 |
|
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At 31 March 2019 |
2,870 |
|
1,576 |
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| 8 |
Controlling party |
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The company is controlled by Stephen Idahosa by virtue of his 100% shareholding. |
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| 9 |
Other information |
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Ni-Suwa Services Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
44 Pick Hill |
|
Waltham Abbey |
|
Essex |
|
EN9 3LT |
