Nyche Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11916059 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

NYCHE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

Ms Y Chiu

REGISTERED OFFICE:

26 Hazlemere Gardens

Worcester Park

England

KT48AH

REGISTERED NUMBER:

11916059 (England and Wales)

ACCOUNTANTS:

Chris Skarparis & Co Ltd

Chartered Accountants

2nd Floor

10(b) Aldermans Hill

Palmers Green

London

N13 4PJ

FIXED ASSETS

Tangible assets

4

2,299

2,561

CURRENT ASSETS

Debtors

5

4,525

1,371

Cash at bank

10,999

11,595

15,524

12,966

CREDITORS

Amounts falling due within one year

6

16,977

14,137

NET CURRENT LIABILITIES

(1,453

)

(1,171

)

TOTAL ASSETS LESS CURRENT LIABILITIES

846

1,390

PROVISIONS FOR LIABILITIES

7

582

487

NET ASSETS

264

903

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

263

902

SHAREHOLDERS' FUNDS

264

903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 19 November 2021 and were signed by:

Ms Y Chiu - Director

1.	STATUTORY INFORMATION

Nyche Ltd is a private company, limited by shares, registered in England and Wales.The company 's registered number is 11916059 and registered office address is 26 Hazlemere Gardens, Worcester Park, England, KT4 8AH.

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.

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

-

25% on reducing balance

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.

Revenue recognition

Amounts due under contracts-not yet invoiced (work in progress) are valued at the recoverable standard value of time charged by all personnel engaged in the provision of engineering services. Revenue is recognised as the contracts progress to reflect the partial performance of the contractual obligation. The amount of revenue recognised reflects the accrual of the right for consideration as contract activity progresses by reference to the value of work performed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2020

3,415

Additions

504

At 31 March 2021

3,919

DEPRECIATION

At 1 April 2020

854

Charge for year

766

At 31 March 2021

1,620

NET BOOK VALUE

At 31 March 2021

2,299

At 31 March 2020

2,561

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

3,017

-

Amounts recoverable on contract

1,508

1,371

4,525

1,371

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

51

(1

)

Tax

7,940

9,146

Social security and other taxes

(301

)

(301

)

VAT

5,963

5,065

Directors' current accounts

3,324

228

16,977

14,137

7.	PROVISIONS FOR LIABILITIES

31.3.21

31.3.20

£

£

Deferred tax

Accelerated capital allowances

582

487

Deferred

tax

£

Balance at 1 April 2020

487

Charge for the year

95

Balance at 31 March 2021

582

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

1

Share capital 1

1

1

1

9.

RESERVES

Retained

earnings

£

At 1 April 2020

902

Profit for the year

33,361

Dividends

(34,000

)

At 31 March 2021

263

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £34,000 (2020 - £40,000) were paid to the director .

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms Y Chiu.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nyche Ltd for the year ended 31 March 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Nyche Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nyche Ltd and state those matters that we have agreed to state to the director of Nyche Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nyche Ltd and its director for our work or for this report.

It is your duty to ensure that Nyche Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nyche Ltd. You consider that Nyche Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nyche Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Chris Skarparis & Co Ltd

Chartered Accountants

2nd Floor

10(b) Aldermans Hill

Palmers Green

London

N13 4PJ

19 November 2021