Company Registration No. 8808320 (England and Wales)
Nisa Consultants Limited
Unaudited accounts
for the year ended 31 March 2019
Nisa Consultants Limited
Unaudited accounts
Contents
Nisa Consultants Limited
Company Information
for the year ended 31 March 2019
Directors
Mr Muhammad Shakil Ahmed
Mr Naeem Iqbal Mughal
Company Number
8808320 (England and Wales)
Registered Office
1 Daffodil Gardens
Ilford
Essex
IG1 2HZ
United Kingdom
Nisa Consultants Limited
Statement of financial position
as at 31 March 2019
Cash at bank and in hand
19,308
20,287
Creditors: amounts falling due within one year
80
(1,050)
Net current assets
31,797
31,037
Total assets less current liabilities
31,797
31,287
Creditors: amounts falling due after more than one year
(65,202)
(65,202)
Net liabilities
(33,405)
(33,915)
Called up share capital
100
100
Profit and loss account
(33,505)
(34,015)
Shareholders' funds
(33,405)
(33,915)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 December 2019.
Mr Naeem Iqbal Mughal
Director
Company Registration No. 8808320
Nisa Consultants Limited
Notes to the Accounts
for the year ended 31 March 2019
Nisa Consultants Limited is a private company, limited by shares, registered in England and Wales, registration number 8808320. The registered office is 1 Daffodil Gardens, Ilford, Essex, IG1 2HZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These Accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent upon the continued support from its shareholders and other creditors. If the company was unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts and to provide further liabilities that might arise.
The directors believe that with support from the shareholders and creditors continued funding will be provided to support the company whilst it moves towards profitability and to enable it to meet its day-to-day commitments from cashflows. As a consequence, the directors believe that the company is well placed to manage its business risks successfully. As such, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on cost
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Nisa Consultants Limited
Notes to the Accounts
for the year ended 31 March 2019
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
A prior year adjustment has been included within the financial statements to account for transactions which were omitted from the prior year financial statements. The comparatives are restated to reflect the adjustment.
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Tangible fixed assets
Fixtures & fittings
Finished goods
4,650
6,900
7
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
(410)
-
Nisa Consultants Limited
Notes to the Accounts
for the year ended 31 March 2019
8
Creditors: amounts falling due after more than one year
2019
2018
Other creditors
65,202
65,202
Creditors amount falling due more than one year includes net sum of £65,202 (2018: £65,202) invested into the company.
Mr Muhammad Shakil Ahmed, the director of the company has invested £54,600 up to period ended 31 March 2019 other than share capital. The loan is interest-free, unsecured and subordinated in favour of third-party creditors of the company. The loan is repayable after 7 years.
Mr Naeem Iqbal Mughal, the director of the company has invested £10,602 up to period ended 31 March 2019 other than share capital. The loan is interest-free, unsecured and subordinated in favour of third-party creditors of the company. The loan is repayable after 7 years.
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Transactions with related parties
Mr Muhammad Shakil Ahmed
Included in other creditors is an amount of £54,600 (2018: £54,600) owed by the company to the
director Mr Muhammad Shakil Ahmed.
Mr Naeem Iqbal Mughal
Included in other creditors is an amount of £10,602 (2018: £10,602) owed by the company to the
director Mr Naeem Iqbal Mughal.
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Average number of employees
During the year the average number of employees was 0 (2018: 0).
