Nightaddict.com Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11351117 (England and Wales)

NIGHTADDICT.COM LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R R Kumar

D M Heslop

REGISTERED OFFICE:

61 Great Ducie Street

Manchester

Lancashire

M3 1RR

REGISTERED NUMBER:

11351117 (England and Wales)

ACCOUNTANTS:

DTE Business Advisers Limited

Chartered Accountants

The Exchange

5 Bank Street

Bury

BL9 0DN

FIXED ASSETS

Intangible assets

4

6,442

10,305

Property, plant and equipment

5

395

489

6,837

10,794

CURRENT ASSETS

Inventories

-

26,583

Debtors

6

1,392

9,826

Cash at bank

40,484

20,713

41,876

57,122

CREDITORS

Amounts falling due within one year

7

(105,561

)

(120,294

)

NET CURRENT LIABILITIES

(63,685

)

(63,172

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(56,848

)

(52,378

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(56,849

)

(52,379

)

(56,848

)

(52,378

)

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 directors acknowledge their 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 Board of Directors and authorised for issue on 28 March 2022 and were signed on its behalf by:

R R Kumar - Director

1.	STATUTORY INFORMATION

NightAddict.com Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11351117 and the company's registered office address is 61 Great Ducie Street, Manchester, Lancashire, M3 1RR.

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.

The company had net liabilities of £57k (2020: £52k) and cash reserves of £40k (2020: £21k) at the year end and has generated losses post year end. It's related party indicated that they will continue to support the company and therefore continues to adopt a going concern basis of accounting in preparing these financial statements.

Critical accounting estimates

There are no critical accounting estimates in the opinion of the directors.

Revenue

Revenue comprises the aggregate of the fair value of the sales of goods and services provided, net of value added tax, rebates and discounts. Revenue is recognised as follows:

Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the goods and collection of the related receivables is anticipated.

Service revenues are recognised as those services are provided to customers.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs - 25% on cost.

Property, plant and equipment

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

Plant and machinery etc

-

15% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is derived from actual purchase price on a first in, first out basis. Net realisable value is based on estimated selling prices less additional costs to completion and disposal.

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 accounts receivable and payable, loans from banks and other third parties and loans to related parties.

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 income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 charge to the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2020

and 31 March 2021

15,451

AMORTISATION

At 1 April 2020

5,146

Charge for year

3,863

At 31 March 2021

9,009

NET BOOK VALUE

At 31 March 2021

6,442

At 31 March 2020

10,305

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

626

DEPRECIATION

At 1 April 2020

137

Charge for year

94

At 31 March 2021

231

NET BOOK VALUE

At 31 March 2021

395

At 31 March 2020

489

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

647

5,084

Other debtors

745

4,742

1,392

9,826

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

853

111,510

Amounts owed to related parties

103,908

-

Taxation and social security

-

2,095

Other creditors

800

6,689

105,561

120,294