Nippon Investment Bespoke Research UK Ltd - Accounts

Nippon Investment Bespoke Research UK Ltd - Accounts

NIPPON INVESTMENT BESPOKE RESEARCH UK LTD - Company Information

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Registered number
09100028
Nippon Investment Bespoke Research UK Ltd
Annual Report and Unaudited Accounts
For the year ended
31 January 2020
Nippon Investment Bespoke Research UK Ltd
Report and accounts
Contents
Page
Accountants' report 1
Statement of financial position 2
Notes to the financial statements 3
Nippon Investment Bespoke Research UK Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Nippon Investment Bespoke Research UK Ltd for the period ended 31 January 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nippon Investment Bespoke Research UK Ltd for the period ended 31 January 2020 which comprise of the Statement of Financial Position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
This report is made solely to the Board of Directors of Nippon Investment Bespoke Research UK Ltd, as a body, in accordance with the terms of our engagement letter dated 02 July 2017. Our work has been undertaken solely to prepare for your approval the accounts of Nippon Investment Bespoke Research UK Ltd and state those matters that we have agreed to state to the Board of Directors of Nippon Investment Bespoke Research UK Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nippon Investment Bespoke Research UK Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Nippon Investment Bespoke Research UK Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nippon Investment Bespoke Research UK Limited. You consider that Nippon Investment Bespoke Research UK Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Nippon Investment Bespoke Research UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
MAH, Chartered Accountants
154 Bishopsgate
London
EC2M 4LN
16/07/2020
Nippon Investment Bespoke Research UK Ltd
Registered number: 09100028
Statement of Financial Position
as at 31 January 2020
Notes 2020 2019
£ £ £ £
Fixed assets
Tangible assets 3 1,459 863
1,459 863
Current assets
Debtors 4 60,700 28,305
Cash at bank and in hand 99,384 23,648
160,084 51,953
Creditors: amounts falling due within one year 5 (57,789) (50,650)
Net current assets 102,295 1,303
Total assets less current liabilities 103,754 2,166
Creditors: amounts falling due after more than one year 6 (43,237) (56,816)
Net assets/(liabilities) 60,517 (54,650)
Capital and reserves
Called up share capital 7 5,000 5,000
Profit and loss account 8 55,517 (59,650)
Total equity 60,517 (54,650)
The company is exempt from the requirements relating to preparing audited accounts in accordance with section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were authorised for issue and approved by the board on 16 July 2020 and signed on its behalf.
Mrs Yumi Yamamoto-Tyrrell
Director
The notes on pages 5 to 8 form part of these financial statements.
Nippon Investment Bespoke Research UK Ltd
Notes to the Accounts
for the year ended 31 January 2020
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared in compliance with United Kingdom Accounting Standards, including FRS 102 1A, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (revised September 2015) and the Companies Act 2006.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes platform fees and commission fees earned from the rendering of market research consultancy services.

Turnover from the rendering of services is recognised by reference to the period over which the services are performed.
Tangible fixed assets
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:
Plant and machinery over 3 years
Taxation
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.

Deferred tax is recognised in respect of all material timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Current and deferred tax assets and liabilities are not discounted.
1 Summary of significant accounting policies (continued)
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees
2020 2019
£ £
Average number of employees during theperiod (including the directors)
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost or valuation
At 1 February 2019 3,897
Additions 1,570
At 31 January 2020 5,467
Depreciation
At 1 February 2019 3,033
Charge for the year 975
At 31 January 2020 4,008
Carrying amount
At 31 January 2020 1,459
At 31 January 2019 864
4 Debtors 2020 2019
£ £
Trade debtors 7,681 11,612
Other debtors 294 14,443
Prepayments and accrued income 52,725 2,250
60,700 28,305
A deferred tax asset of £294 (2019: £14,443) relating to tax losses carried forward is included in Other Debtors.
5 Creditors: amounts falling due within one year 2020 2019
£ £
Amounts owed to group undertakings and other participating interests 31,581 31,185
Trade creditors 1,109 601
Corporation tax 14,303 -
Other taxes and social security costs 1,110 3,665
Other creditors 6,652 10,966
Accruals and deferred income 3,034 4,233
57,789 50,650
6 Creditors: amounts falling due after one year 2020 2019
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 43,237 56,816
43,237 56,816
7 Share capital Nominal 2020 2019
value Number £ £
Allotted, called up and fully paid: £1 each 5,000 5,000 5,000
5,000 5,000
8 Profit and loss account 2020
£
At 1 February (59,650)
Profit for the financial year 115,167
At 31 January 55,517
9 Related party transactions
The company has a long term loan from The Trustees of the NIB Research UK Pension Trust. Interest is charged at 3% per annum with annual, capital repayments. As at the year end the balance was £56,816 (2019: £70,000).

Included within other creditors is an interest free current balance of £6,655 (2019: £10,967) owed to the director Yumi Yamamoto-Tyrrell in respect of net expenses incurred on behalf of the company.
10 Controlling party
The company is under the ultimate control of NIB Research Co. Limited by virtue of its controlling shareholding in the company.
11 Presentation currency
The financial statements are presented in Sterling.
12 Legal form of entity and country of incorporation
Nippon Investment Bespoke Research UK Ltd is a private company limited by shares and incorporated in England. The address of the company's principal place of business and registered office is:
Artist House, 35 Little Russell Street, London, WC1A 2HH
12 Principal place of business
The address of the company's principal place of business and registered office is:
Artist House, 35 Little Russell Street, London, WC1A 2HH
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