Nivoflex_UK_Limited - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

Nivoflex UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Brentmead House, Britannia Road, London, N12 9RU.

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company made losses of £16,031 (2018: £12,160), and has net liabilities of £33,168 (2018: £17,137). The director has confirmed that should be needed he will provide the financial support required, and therefore accounts have been prepared on a going concern basis. true

The occurrence of the coronavirus which has expanded post year end is a global threat, however in our opinion it is not considered an event subsequent to the balance sheet date with a material effect on these financial statements to 31 December 2019.

While the spread of the coronavirus has a negative impact on business activities, it is currently not possible to make a reliable estimate on the depth of the impact on business activities. We assume that this does not represent a threat to the Company's ability to continue as a going concern.

Turnover represents amounts receivable for the supply of staging products, net of VAT and trade discounts.

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

All of the company's financial assets and liabilities are basic and measured at amortised cost.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

The average monthly number of persons (including directors) employed by the company during the year was 12 (2018: 9).

Wages costs of £414,843 (2018: 255,970) have been recharged to Steeldeck Industries Limited during the year, a company related by virtue of common control. Also wages costs of £16,000 (2018: £16,000) have been recharged from Steeldeck Industries Limited during the year.

Included within other creditors at the balance sheet date is £8,188 (2018: £809) of unpaid pension contributions.