Company Registration No. 01825766 (England and Wales)
Nilefern Limited
Unaudited accounts
for the year ended 31 December 2022
Nilefern Limited
Unaudited accounts
Contents
Nilefern Limited
Company Information
for the year ended 31 December 2022
Company Number
01825766 (England and Wales)
Registered Office
2ND FLOOR, KNIGHTRIDER CHAMBERS
KNIGHTRIDER STREET
MAIDSTONE
KENT
ME15 6LP
Nilefern Limited
Statement of financial position
as at 31 December 2022
Tangible assets
37,122
26,907
Debtors
1,995,252
2,190,320
Cash at bank and in hand
811,621
989,243
Creditors: amounts falling due within one year
(1,857,246)
(2,137,022)
Net current assets
957,787
1,042,541
Net assets
994,909
1,069,448
Called up share capital
200,100
200,100
Profit and loss account
794,809
869,348
Shareholders' funds
994,909
1,069,448
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 August 2023 and were signed on its behalf by
Mr T Simpson
Director
Company Registration No. 01825766
Nilefern Limited
Notes to the Accounts
for the year ended 31 December 2022
Nilefern Limited is a private company, limited by shares, registered in England and Wales, registration number 01825766. The registered office is 2ND FLOOR, KNIGHTRIDER CHAMBERS, KNIGHTRIDER STREET, MAIDSTONE, KENT, ME15 6LP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Turnover is the amount receivable by the company for services provided.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2022
471
11,003
109,062
120,536
Additions
590
-
19,863
20,453
Disposals
-
-
(5,950)
(5,950)
At 31 December 2022
1,061
11,003
122,975
135,039
At 1 January 2022
281
8,562
84,786
93,629
Charge for the year
72
610
9,556
10,238
On disposals
-
-
(5,950)
(5,950)
At 31 December 2022
353
9,172
88,392
97,917
At 31 December 2022
708
1,831
34,583
37,122
At 31 December 2021
190
2,441
24,276
26,907
Nilefern Limited
Notes to the Accounts
for the year ended 31 December 2022
Amounts falling due within one year
Trade debtors
1,550,929
1,248,381
Amounts due from group undertakings etc.
36,831
658,598
Accrued income and prepayments
88,496
73,721
Other debtors
318,996
209,620
6
Investments held as current assets
2022
2021
Unlisted investments
8,160
-
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
1,749,394
2,038,291
Taxes and social security
107,509
97,672
8
Operating lease commitments
2022
2021
At 31 December 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,113
14,492
Later than one year and not later than five years
66,290
41,478
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Transactions with related parties
During the year the company paid management fees amounting to £92,000 (2021: £89,309) to a connected company, TGFA Consulting Limited.
It also paid management fees amounting to £270,000 (2021: Nil) to the parent company, Miramar HC Limited.
At the year end the outstanding balance owed to the parent company, Miramar HC Limited, is £105,731 (2021: £699,186). The loan to the parent company is non-interest bearing with no fixed term of payment.
No other transactions with related parties were undertaken, such as are required to be disclosed under the provisions of Section1A of Financial Reporting Standard 102.
The company is a subsidiary of Miramar HC Limited, a company incorporated in England and Wales, and under the control of Mr T. Simpson.
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Average number of employees
During the year the average number of employees was 21 (2021: 18).
