ACCOUNTS - Final Accounts preparation

NEVERN CAPITAL LTD - Company Information

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Registered number 10532300

NEVERN CAPITAL LTD

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

NEVERN CAPITAL LTD

REGISTERED NUMBER: 10532300

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	-		1,830
Cash at bank and in hand	6	17,419		28,830
		17,419		30,660
Creditors: amounts falling due within one year	7	(7,390)		(8,203)
Net current assets			10,029		22,457
Total assets less current liabilities			10,029		22,457

Net assets			10,029		22,457

Capital and reserves
Called up share capital	1	1
Profit and loss account	10,028	22,456
	10,029	22,457

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NEVERN CAPITAL LTD

REGISTERED NUMBER: 10532300

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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

L D Santos

Director

Date: 29 September 2022

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NEVERN CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Nevern Capital Ltd is a private company, limited by shares. the company is incorporated in England and Wales and the address of the registered office is 5 Nevern Square, London, SW5 9NN. The company's registration number is 10532300.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 January 2020 to continue to be charged over the period to the first market rent review rather than the term of the lease.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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NEVERN CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Stocks

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NEVERN CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Debtors

					2021	2020
					£	£


Other debtors	-	1,830
	-	1,830

6.	Cash and cash equivalents
		2021	2020
		£	£

	Cash at bank and in hand	17,419	28,830

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Other creditors	6,190	6,769
Accruals and deferred income	1,200	1,434
	7,390	8,203

8.	Financial instruments
		2021	2020
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	17,419	28,830

Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

9.	Transactions with directors
	Included within other creditors is an amount of £6,190 (2020: £6,769) due to the director. There are no fixed terms of interest or repayment in respect of this amount. During the year the dividends of £4,000 (2020: £4,000) were paid to the director.

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