NISARO Ltd - Period Ending 2022-03-31

NISARO Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

NISARO Ltd

Balance Sheet

31 March 2022

	Note	2022 £
Fixed assets
Investment property	4	179,347
Current assets
Debtors	5	35,649
Cash at bank and in hand		3,370
		39,019
Creditors: Amounts falling due within one year	6	(221,684)
Net current liabilities		(182,665)
Net liabilities		(3,318)
Capital and reserves
Called up share capital	7	100
Profit and loss account		(3,418)
Shareholders' deficit		(3,318)

For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 December 2022 and signed on its behalf by:
 

......................................... Mr N R Fowler Director

Company Registration Number: 13304754

NISARO Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2021 to 31 March 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3
Swift Units
Pound Lane
Exmouth
Devon
EX8 4NP

These financial statements were authorised for issue by the Board on 14 December 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The balance sheet shows a deficit of funds of £3,318. The company therefore relies upon the continued financial support of the company's directors, who have confirmed that their support will continue for at least twelve months from the balance sheet date.

Investment property

Investment property is carried at its estimated open market value as determined by the directors.

NISARO Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2021 to 31 March 2022

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4	Investment properties

	2022 £
Additions	179,347
At 31 March 2022	179,347

The company purchased the investment property just prior to the balance sheet date. The directors therefore consider that the property's purchase price represents its open market value as at the balance sheet date.

There has been no valuation of investment property by an independent valuer.

NISARO Ltd

Notes to the Unaudited Financial Statements

Period from 31 March 2021 to 31 March 2022

5

Debtors

Current	2022 £
Other debtors	35,649
	35,649

6

Creditors

Creditors: amounts falling due within one year

	2022 £
Due within one year
Other creditors	218,993
Accruals and deferred income	2,691
	221,684

7	Share capital

Allotted, called up and fully paid shares

	2022
	No.	£
Ordinary shares of £1 each	100	100

100 Ordinary subscriber shares were issued at par value on incorporation.