Abbreviated Company Accounts - NIRKAR LTD

05601752 NIRKAR LTD 2013-10-31 false 2012-11-01 2013-10-31 true 05601752 2012-11-01 2013-10-31 05601752 2013-10-31 05601752 2012-10-31 05601752 uk-gaap-cd-bus:Director1 2012-11-01 2013-10-31 05601752 uk-gaap-cd-bus:Director2 2012-11-01 2013-10-31 uk-gaap-cd-bus:Director3 2012-11-01 2013-10-31 uk-gaap-cd-bus:Director3 2013-10-31 uk-gaap-cd-bus:Director3 2012-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-11-01 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-10-31 iso4217:GBP shares

Registered Number 05601752

NIRKAR LTD

Abbreviated Accounts

31 October 2013

NIRKAR LTD Registered Number 05601752

Abbreviated Balance Sheet as at 31 October 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	11,913	13,302
		11,913	13,302
Current assets
Stocks		16,000	-
Debtors		146,276	56,078
Cash at bank and in hand		15,433	28,610
		177,709	84,688
Creditors: amounts falling due within one year		(301,381)	(226,994)
Net current assets (liabilities)		(123,672)	(142,306)
Total assets less current liabilities		(111,759)	(129,004)
Provisions for liabilities		(1,487)	(1,568)
Total net assets (liabilities)		(113,246)	(130,572)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(113,346)	(130,672)
Shareholders' funds		(113,246)	(130,572)

For the year ending 31 October 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 15 July 2014

And signed on their behalf by:
Mr Nirvair Dhillon, Director

NIRKAR LTD Registered Number 05601752

Notes to the Abbreviated Accounts for the period ended 31 October 2013

1Accounting Policies

Basis of measurement and preparation of accounts
For the financial year ended 31 October 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
l The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with Section 476;
l The director acknowledges his responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).The director prepared the accounts on the basis of Going concern despite the negative net assets,
The company has continuous director support and the director believes that the company will be
trading for the foreseeable future.

Turnover policy
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or
valuation less estimated residual value of each asset over its estimated useful life. The principal
rates in use are:
Equipment, fixtures and fittings 15% on Reducing balance method Plant and machinery 15% on Reducing balance method

Valuation information and policy
Stock and work in progress is valued at the lower of cost and estimated net realisable value.
Cost of raw materials is determined on the first in first out basis. In the case of work in progress and
finished goods, cost includes all direct expenditure and production overheads based on the normal
level of activity. Net realisable value is the price at which the stock can be released in the normal
course of business, less further costs to completion of sale.

Other accounting policies
Deferred tax is provided in respect of the tax effect of all timing differences that have originated but
not reversed at the balance sheet date.
Deferred tax is measured on the average tax rates that are expected to apply in the periods in which
the timing differences are expected to reverse, based on tax rates and laws that have been enacted
or substantively enacted by the balance sheet date.

2Tangible fixed assets

	£
Cost
At 1 November 2012	34,341
Additions	605
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2013	34,946
Depreciation
At 1 November 2012	21,039
Charge for the year	1,994
On disposals	-
At 31 October 2013	23,033
Net book values
At 31 October 2013	11,913
At 31 October 2012	13,302

3Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	Mr Nirvair Dhillon
Description of the transaction:	Related parties
Balance at 1 November 2012:	£ 170,282
Advances or credits made:	£ 7,258
Advances or credits repaid:	-
Balance at 31 October 2013:	£ 177,540

The company have following balances of the associated companies due to the common control of director
2013 2012
1.Nirraj Ltd
2.Mancrest Ltd £28,000 debit
3.Lounge 34 Ltd £18,971 Credit £11,984 debit
4.Silver Leaf Ltd £24,000 debit
As at balance sheet date, the company owed to director £177,539(2012:£170,282). This is an interest free loan to the company