Nekton Services (UK) Limited - Accounts to registrar (filleted) - small 18.2

NEKTON SERVICES (UK) LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

M Doev

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

09330222 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Current assets

Debtors

5

1,795,557

1,342,842

Cash in hand

100

100

1,795,657

1,342,942

Creditors

Amounts falling due within one year

6

1,513,646

1,088,728

Net current assets

282,011

254,214

Total assets less current liabilities

282,011

254,214

Capital and reserves

Called up share capital

8

1

1

Retained earnings

9

282,010

254,213

Shareholders' funds

282,011

254,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 8 November 2021 and were signed by:

M Doev - Director

1.	Statutory information

Nekton Services (UK) Limited, is a private company, limited by shares, domiciled in England and Wales, registration number 09330222. The registered office is 2nd Floor, 22 Arlington Street, London, SW1A 1RD.

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 represents amounts receivable for management services provided in the year and is stated net of VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

50% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

The company is dependent on the continued support of its group companies, of which there are no issues with going concern.

In particular, in response to the COVID-19 pandemic, the directors have taken into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

3.	Employees and directors

The average number of employees during the year was 1 (2019 - 3 ) .

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 January 2020

and 31 December 2020

72,616

Depreciation

At 1 January 2020

and 31 December 2020

72,616

Net book value

At 31 December 2020

-

At 31 December 2019

-

5.

Debtors: amounts falling due within one year

2020

2019

£

£

Amounts owed by subsidiary undertaking

1,514,093

1,227,129

Other debtors

281,464

115,713

1,795,557

1,342,842

6.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

18,959

84,728

Amounts owed to related undertakings

61,554

61,554

Taxation and social security

9,194

26,290

Other creditors

1,423,939

916,156

1,513,646

1,088,728

7.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

220,000

220,000

Between one and five years

146,667

256,667

366,667

476,667

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1

1

1

9.

Reserves

Retained

earnings

£

At 1 January 2020

254,213

Profit for the year

27,797

At 31 December 2020

282,010

10.	Related party disclosures

During the year the company made sales of £441,596 (2019 - £568,319) to a fellow subsidiary company. Included in other debtors is £1,514,093 (2019 - £1,227,129) owed from a fellow subsidiary company.

Included in creditors is £61,554 (2019 - £61,554) owed to the immediate parent company.

Also included in other creditors is £1,401,414 (2019 - £904,031) owed to the ultimate controlling party. During the year the company paid interest of £11,400 (2019 - £6,851) in relation to this balance.

All transactions were at arms length and in the normal course of business.