Company Registration No. 6995838 (England and Wales)
NILAN Ltd
Unaudited accounts
for the year ended 31 December 2019
NILAN Ltd
Unaudited accounts
Contents
NILAN Ltd
Company Information
for the year ended 31 December 2019
Company Number
6995838 (England and Wales)
Registered Office
25 ST. LEONARDS ROAD
HORSHAM
WEST SUSSEX
RH13 6EH
Accountants
Allan Willmott
Bramley
Farthings Hill
Horsham
West Sussex
RH12 1TS
NILAN Ltd
Statement of financial position
as at 31 December 2019
Tangible assets
57,007
60,482
Cash at bank and in hand
15,865
15,726
Creditors: amounts falling due within one year
(61,097)
(55,554)
Net current liabilities
(22,197)
(33,712)
Total assets less current liabilities
34,810
26,770
Creditors: amounts falling due after more than one year
(26,604)
(24,266)
Called up share capital
1
1
Profit and loss account
8,205
2,503
Shareholders' funds
8,206
2,504
For the year ending 31 December 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 director acknowledges his 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.
The financial statements were approved by the Board and authorised for issue on 26 June 2020 and were signed on its behalf by
Stuart Laughton
Director
Company Registration No. 6995838
NILAN Ltd
Notes to the Accounts
for the year ended 31 December 2019
NILAN Ltd is a private company, limited by shares, registered in England and Wales, registration number 6995838. The registered office is 25 ST. LEONARDS ROAD, HORSHAM, WEST SUSSEX, RH13 6EH.
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.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 of a material amount 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 assets and liabilities are not discounted.
NILAN Ltd
Notes to the Accounts
for the year ended 31 December 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2019
55,680
805
10,495
275
67,255
Additions
-
-
-
1,050
1,050
Disposals
-
-
(5,000)
-
(5,000)
At 31 December 2019
55,680
805
5,495
1,325
63,305
At 1 January 2019
-
322
6,396
55
6,773
Charge for the year
-
161
1,099
265
1,525
On disposals
-
-
(2,000)
-
(2,000)
At 31 December 2019
-
483
5,495
320
6,298
At 31 December 2019
55,680
322
-
1,005
57,007
At 31 December 2018
55,680
483
4,099
220
60,482
Trade debtors
16,976
3,715
Accrued income and prepayments
5,559
1,901
7
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
19,663
11,699
Trade creditors
21,533
18,882
Taxes and social security
9,835
5,005
Loans from directors
8,766
18,180
8
Creditors: amounts falling due after more than one year
2019
2018
NILAN Ltd
Notes to the Accounts
for the year ended 31 December 2019
9
Transactions with related parties
Stuart Laughton, the sole director and shareholder, received Dividends of £16,000 (2018 £16,000) during the course of the year.
10
Average number of employees
During the year the average number of employees was 1 (2018: 1).
