Nissen & Partners Company Limited Small abridged accounts

NISSEN & PARTNERS COMPANY LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Nissen & Partners Company Limited have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the period ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 02580613

Nissen & Partners Company Limited

Unaudited Abridged Financial Statements

31 March 2019

Nissen & Partners Company Limited

Abridged Financial Statements

Year ended 31 March 2019

Contents	Page

Statement of financial position	1

Notes to the abridged financial statements	3

Nissen & Partners Company Limited

Statement of Financial Position

31 March 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	6	175	805
Investments	7	100,337	100,337
		---------	---------
		100,512	101,142

Current assets

Debtors	8	136,990		141,334

Creditors: amounts falling due within one year	129,041		148,361
	---------		---------
Net current assets/(liabilities)		7,949	( 7,027)
		---------	---------
Total assets less current liabilities		108,461	94,115
		---------	--------
Net assets		108,461	94,115
		---------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	108,459	94,113
	---------	--------
Member funds	108,461	94,115
	---------	--------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Nissen & Partners Company Limited

Statement of Financial Position (continued)

31 March 2019

These abridged financial statements were approved by the board of directors and authorised for issue on 18 December 2019 , and are signed on behalf of the board by:

A C F Nissen

Director

Company registration number: 02580613

Nissen & Partners Company Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 180 Piccadilly, London, W1J 9HF.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to 2 (2018: 2).

5. Profit before taxation

Profit before taxation is stated after charging:

		Period from
	Year to	1 Jan 17 to
	31 Mar 19	31 Mar 18
	£	£
Depreciation of tangible assets	630	629
	----	----

6. Tangible assets

	Plant and machinery
	£
Cost
At 1 Apr 2018 and 31 Mar 2019	2,519
	-------
Depreciation
At 1 April 2018	1,714
Charge for the year	630
	-------
At 31 March 2019	2,344
	-------
Carrying amount
At 31 March 2019	175
	-------
At 31 March 2018	805
	-------

7. Investments

	Other investments other than loans
	£
Cost
At 1 Apr 2018 and 31 Mar 2019	100,337
	---------
Impairment
At 1 Apr 2018 and 31 Mar 2019	–
	---------

Carrying amount
At 31 March 2019	100,337
	---------

8. Debtors

	2019	2018
	£	£
Trade debtors	19,449	26,314
Amounts owed by group undertakings and undertakings in which the company has a participating interest	115,020	115,020
Other debtors	2,521	–
	---------	---------
	136,990	141,334
	---------	---------

9. Directors' advances, credits and guarantees

There were no transactions to be disclosed relating to Directors.

10. Related party transactions

The company was under the control of Mr A C F Nissen throughout the current and previous year. Mr A C F Nissen is the managing director and majority shareholder.