Nah Foods Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07964881 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Nah Foods Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs N A Halai

REGISTERED OFFICE:

274 Ampthill Road

Bedford

MK42 9QJ

REGISTERED NUMBER:

07964881 (England and Wales)

ACCOUNTANTS:

Three Leaves

Chartered Certified Accountants

2 Manor House Lane

Datchet

Slough

Berkshire

SL3 9EB

FIXED ASSETS

Tangible assets

4

269,813

212,121

CURRENT ASSETS

Stocks

5

134,155

5,594

Debtors

6

453,928

626,851

Cash at bank

141,593

127,683

729,676

760,128

CREDITORS

Amounts falling due within one year

7

554,002

598,239

NET CURRENT ASSETS

175,674

161,889

TOTAL ASSETS LESS CURRENT LIABILITIES

445,487

374,010

CREDITORS

Amounts falling due after more than one year

8

(83,731

)

(97,732

)

PROVISIONS FOR LIABILITIES

9

(51,264

)

(40,303

)

NET ASSETS

310,492

235,975

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

310,392

235,875

SHAREHOLDERS' FUNDS

310,492

235,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 December 2022 and were signed by:

Mrs N A Halai - Director

1.	STATUTORY INFORMATION

Nah Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefit 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide service 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.

Revenue is recognised when goods are delivered and services are rendered.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefit to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance charged to the Statement of comprehensive income during the year in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Computer equipments - 25% on straight line basis

Plant & machinery - 20% on reducing balance

Fixture & fittings - 15% on reducing balance

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loan to related parties and investments in non-puttable ordinary shares.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Creditors

Short term trade 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.

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 life.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

273,790

Additions

121,704

At 31 March 2022

395,494

DEPRECIATION

At 1 April 2021

61,669

Charge for year

64,012

At 31 March 2022

125,681

NET BOOK VALUE

At 31 March 2022

269,813

At 31 March 2021

212,121

5.

STOCKS

31.3.22

31.3.21

£

£

Stocks

134,155

5,594

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

295,516

388,927

Other debtors

158,412

237,924

453,928

626,851

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Hire purchase contracts

9,371

8,934

Trade creditors

364,465

275,507

Taxation and social security

1,873

344

Other creditors

178,293

313,454

554,002

598,239

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

52,770

57,400

Hire purchase contracts

30,961

40,332

83,731

97,732

9.	PROVISIONS FOR LIABILITIES

31.3.22

31.3.21

£

£

Deferred tax

51,264

40,303

Deferred

tax

£

Balance at 1 April 2021

40,303

Provided during year

10,961

Balance at 31 March 2022

51,264

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

100

Ordinary

1

100

100

11.

RESERVES

Retained

earnings

£

At 1 April 2021

235,875

Profit for the year

81,317

Dividends

(6,800

)

At 31 March 2022

310,392

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs N A Halai.