NNTechNN Limited Filleted accounts for Companies House (small and micro)

2 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 4,648 4,643 5 5 xbrli:pure xbrli:shares iso4217:GBP 03787056 2022-01-01 2022-12-31 03787056 2022-12-31 03787056 2021-01-01 2021-12-31 03787056 2021-12-31 03787056 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 03787056 bus:Director1 2022-01-01 2022-12-31 03787056 core:WithinOneYear 2022-12-31 03787056 core:WithinOneYear 2021-12-31 03787056 core:ShareCapital 2022-12-31 03787056 core:ShareCapital 2021-12-31 03787056 core:RetainedEarningsAccumulatedLosses 2022-12-31 03787056 core:RetainedEarningsAccumulatedLosses 2021-12-31 03787056 bus:SmallEntities 2022-01-01 2022-12-31 03787056 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 03787056 bus:FullAccounts 2022-01-01 2022-12-31 03787056 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 03787056 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 03787056 bus:OrdinaryShareClass1 2022-12-31 03787056 bus:OrdinaryShareClass1 2021-12-31 03787056 core:ComputerEquipment 2022-01-01 2022-12-31 03787056 core:ComputerEquipment 2022-12-31 03787056 core:ComputerEquipment 2021-12-31

COMPANY REGISTRATION NUMBER: 03787056

NNTECHNN LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2022

NNTECHNN LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		5	5

Current assets

Stocks		710,854	678,560
Debtors	6	20,739	20,620
Cash at bank and in hand		3,810	1,534
		---------	---------
		735,403	700,714

Creditors: amounts falling due within one year	7	239,285		256,261
		---------		---------
Net current assets			496,118	444,453
			---------	---------
Total assets less current liabilities			496,123	444,458
			---------	---------
Net assets			496,123	444,458
			---------	---------

Capital and reserves

Called up share capital	8	600,000	600,000
Profit and loss account		( 103,877)	( 155,542)
		---------	---------
Shareholders funds		496,123	444,458
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

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

These financial statements were approved by the board of directors and authorised for issue on 26 September 2023 , and are signed on behalf of the board by:

S J Prescott
Director

Company registration number: 03787056

NNTECHNN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 The Chambers, Vineyard, Abingdon-on-Thames.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Foreign currencies

The functional currency of the company is US Dollars, but the financial statements are presented in UK Sterling. Foreign currency transactions are recorded in the presentation currency by applying the average exchange rate.

There are no monetary assets and liabilities in the financial statements. Non-monetary assets and liabilities denominated in foreign currencies, such as stocks, are translated at the average exchange rate due to the volume of transactions, with any gains or losses being taken to the statement of changes in equity.

Trade and other debtors

Trade and other debtors are stated at cost less impairment losses for bad and doubtful debts.

Revenue recognition

The turnover shown in the profit and loss account represents proceeds from the sale of shares, equities and futures during the year, as the company trades in these financial commodities.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation

Tax on income represents the sum of tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the note to the accounts because of items of that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using the tax rates that have been enacted or subsequently enacted by the end of the accounting period.

Related parties

For the purposes of these financial statements, a party is considered to be related to the Company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the Company in making financial and operating policy decisions, or has joint control over the Company;

(ii) the Company and the party are subject to common control;

(iii) the party is an associate of the Company or a joint venture in which the Company is a venturer;

(iv) the party is a member of key management personnel of the Company or the Company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or

(vi) the party is a post-employment benefit plan which is for the benefit of employees of the Company or of any entity that is a related party of the Company.

Close family members of an individual are those family members who it may be expected to influence, or be influenced by, that individual in their dealings with the entity.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. Stocks are valued at the lower of cost and net realisable value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2022 and 31 December 2022	4,648	4,648
	-------	-------
Depreciation
At 1 January 2022 and 31 December 2022	4,643	4,643
	-------	-------
Carrying amount
At 31 December 2022	5	5
	-------	-------
At 31 December 2021	5	5
	-------	-------

6. Debtors

	2022	2021
	£	£
Other debtors	20,739	20,620
	--------	--------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	248	68
Other creditors	239,037	256,193
	---------	---------
	239,285	256,261
	---------	---------

8. Called up share capital

Authorised share capital

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000,000	1,000,000	1,000,000	1,000,000
	------------	------------	------------	------------

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	600,000	600,000	600,000	600,000
	---------	---------	---------	---------