ACCOUNTS - Final Accounts

Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

Unaudited
31 March

NORTECH SOLUTIONS GROUP LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31true2021-04-01truefalse3No description of principal activity3 08586156 2021-04-01 2021-12-31 08586156 2020-04-01 2021-03-31 08586156 2021-12-31 08586156 2021-03-31 08586156 c:Director3 2021-04-01 2021-12-31 08586156 d:CurrentFinancialInstruments 2021-12-31 08586156 d:CurrentFinancialInstruments 2021-03-31 08586156 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08586156 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 08586156 d:ShareCapital 2021-12-31 08586156 d:ShareCapital 2021-03-31 08586156 d:RetainedEarningsAccumulatedLosses 2021-12-31 08586156 d:RetainedEarningsAccumulatedLosses 2021-03-31 08586156 c:OrdinaryShareClass1 2021-04-01 2021-12-31 08586156 c:OrdinaryShareClass1 2021-12-31 08586156 c:OrdinaryShareClass1 2021-03-31 08586156 c:FRS102 2021-04-01 2021-12-31 08586156 c:Audited 2021-04-01 2021-12-31 08586156 c:FullAccounts 2021-04-01 2021-12-31 08586156 c:PrivateLimitedCompanyLtd 2021-04-01 2021-12-31 08586156 c:SmallCompaniesRegimeForAccounts 2021-04-01 2021-12-31 08586156 2 2021-04-01 2021-12-31 08586156 6 2021-04-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08586156

NORTECH SOLUTIONS GROUP LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2021

NORTECH SOLUTIONS GROUP LIMITED

REGISTERED NUMBER:08586156

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

	31 December	Unaudited 31 March
	2021	2021
Note	£	£

Fixed assets
Investments	4		331		331
			331		331
Current assets
Cash at bank and in hand		200,909		363,968
		200,909		363,968
Creditors: amounts falling due within one year	5	(198,644)		(361,703)
Net current assets			2,265		2,265
Total assets less current liabilities			2,596		2,596

Net assets			2,596		2,596

Capital and reserves
Called up share capital	6	300	300
Profit and loss account		2,296	2,296
		2,596	2,596

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:

I M Stentiford

Director

Date: 22 December 2022

The notes on pages 2 to 4 form part of these financial statements.

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NORTECH SOLUTIONS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

1.	General information

Nortech Solutions Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Nijhuis Industries Uk & Ireland Unit 4, Blenheim Court, Woodlands, Bradley Stoke, Bristol, England, BS32 4NE.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Going concern

After reviewing the Company's forecasts and projections, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
The impact of COVID-19 has been considered when performing the going concern assessment. Given the limited impact on business operations and mitigating steps taken by management, the going concern basis of accounting remains appropriate, as stated above.

2.4

Interest income

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

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

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.

2.7

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.

2.8

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.

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NORTECH SOLUTIONS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.8

Financial instruments (CONTINUED)

Investments in non-derivative instruments that are equity to the issuer are measured:

∙at fair value with changes recognised in the Statement of income and retained earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;

∙at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

2.9

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 period was 3 (2021: 3).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	COST OR VALUATION
	At 1 April 2021	331
	At 31 December 2021	331

Amounts owed to group undertakings	198,613	361,672
Other creditors	31	31
	198,644	361,703

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NORTECH SOLUTIONS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2021

ALLOTTED, CALLED UP AND FULLY PAID

300 (2021: 300) Ordinary shares of £1.00 each	300	300

7.	Related party transactions
	Nortech Solutions Group Limited taken exemption in accordance with section 33 of FRS 102 not to disclose transactions with other wholly owned group companies.

8.	Controlling party

The immediate parent Company is Nijhuis Industried Holdings B. V., a Company incorporated in The Netherlands. The ultimate parent undertaking is EQT AB, listed on the Nasdaq Stockholm, registered in Stockholm, Sweden.

9.	Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2021 was unqualified.

The audit report was signed on 22 December 2022 by Nathan Coughlin FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

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