NGI Finance Limited - Period Ending 2015-01-31

Registration number: 05559988

NGI Finance Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2015
 

NGI Finance Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
NGI Finance Limited
for the Year Ended 31 January 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NGI Finance Limited for the year ended 31 January 2015 set out on pages 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 (ICAEW), 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 NGI Finance Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of NGI Finance Limited and state those matters that we have agreed to state to them, 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 NGI Finance Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that NGI Finance Limited 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 NGI Finance Limited. You consider that NGI Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of NGI Finance Limited. 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.

......................................

Morgan Cameron Limited
Chartered Accountants
9 Thorney Leys Park
Witney
Oxfordshire
OX28 4GE

5 June 2015

Page 1

NGI Finance Limited
(Registration number: 05559988)
Abbreviated Balance Sheet at 31 January 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			4,490			2,444
Current assets
Debtors					8,265			-
Cash at bank and in hand					7,497			9,681
					15,762			9,681
Creditors: Amounts falling due within one year					(20,143)			(11,272)
Net current liabilities					(4,381)			(1,591)
Net assets					109			853
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					107			851
Shareholders' funds					109			853

For the year ending 31 January 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 5 June 2015 and signed on its behalf by:

......................................... C Morris Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

NGI Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts receivable in respect of the year for the provision of services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25%

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2014		5,320			5,320
Additions		3,113			3,113
At 31 January 2015		8,433			8,433
Depreciation
At 1 February 2014		2,876			2,876
Charge for the year		1,067			1,067
At 31 January 2015		3,943			3,943
Net book value
At 31 January 2015		4,490			4,490
At 31 January 2014		2,444			2,444

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 3

NGI Finance Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
M Morris
Short-term loan	4,099	-	-	933
C Morris
Short-term loan	4,167	-	-	1,000

Page 4