ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

HOMERS HQ LTD - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2020-12-312020-12-31No description of principal activityfalse2truefalse2020-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.3 11309418 2020-01-01 2020-12-31 11309418 2019-01-01 2019-12-31 11309418 2020-12-31 11309418 2019-12-31 11309418 c:Director2 2020-01-01 2020-12-31 11309418 d:CurrentFinancialInstruments 2020-12-31 11309418 d:CurrentFinancialInstruments 2019-12-31 11309418 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 11309418 d:CurrentFinancialInstruments d:WithinOneYear 2019-12-31 11309418 d:ShareCapital 2020-12-31 11309418 d:ShareCapital 2019-12-31 11309418 d:RetainedEarningsAccumulatedLosses 2020-12-31 11309418 d:RetainedEarningsAccumulatedLosses 2019-12-31 11309418 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 11309418 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2019-12-31 11309418 c:FRS102 2020-01-01 2020-12-31 11309418 c:AuditExempt-NoAccountantsReport 2020-01-01 2020-12-31 11309418 c:FullAccounts 2020-01-01 2020-12-31 11309418 c:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 11309418 2 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure

Registered number: 11309418









BOROMA GEMS LIMITED
(FORMERLY NKB ASSET MANAGEMENT LIMITED)







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020
 
BOROMA GEMS LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 5

 
BOROMA GEMS LIMITED
REGISTERED NUMBER: 11309418

BALANCE SHEET
AS AT 31 DECEMBER 2020

2020
2019
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
23

Cash at bank and in hand
 5 
252
260

  
252
283

Creditors: amounts falling due within one year
 6 
(6,235)
(4,032)

Net current liabilities
  
 
 
(5,983)
 
 
(3,749)

Total assets less current liabilities
  
(5,983)
(3,749)

  

Net liabilities
  
(5,983)
(3,749)


Capital and reserves
  

Called up share capital 
  
24,695
24,695

Profit and loss account
  
(30,678)
(28,444)

  
(5,983)
(3,749)


Page 1
 
BOROMA GEMS LIMITED
REGISTERED NUMBER: 11309418
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2020

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 on 10 December 2021.




L Harustiak
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
BOROMA GEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1.


General information

NKB Asset Management Limited is a private company limited by shares, incorporated in England & Wales (registered number: 11309418). The registered office of the company is 1 Connaught Place, London, W2 2ET and the principal place of business address is the same as the registered address.

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

Going concern

The financial statements have been drawn up on the going concern basis. The company is dependent upon the continuing support of its related companies in order to meet its medium term capital requirements. The directors are confident that support from these parties will continue.
On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the extended credit facilities from its related companies.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Interest income

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

Page 3
 
BOROMA GEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 3).

Page 4
 
BOROMA GEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

4.


Debtors

2020
2019
£
£


Other debtors
-
23

-
23



5.


Cash and cash equivalents

2020
2019
£
£

Cash at bank and in hand
252
260

252
260



6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Trade creditors
-
161

Amounts owed to other participating interests
3,235
163

Accruals and deferred income
3,000
3,708

6,235
4,032



7.


Financial instruments

2020
2019
£
£

Financial assets


Financial assets measured at fair value through profit or loss
252
260




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


8.


Controlling party

The company is controlled by NKB Advisory Limited.

 
Page 5