Nevica Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01372840 (England and Wales)

NEVICA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P J Goldstein

SECRETARY:

Mr P J Goldstein

REGISTERED OFFICE:

Second Floor

34 Lime Street

London

EC3M 7AT

REGISTERED NUMBER:

01372840 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

Second Floor

34 Lime Street

London

EC3M 7AT

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

466,184

466,184

466,184

466,184

CURRENT ASSETS

Debtors

6

4,128,091

4,128,871

CREDITORS

Amounts falling due within one year

7

1,024,478

1,014,478

NET CURRENT ASSETS

3,103,613

3,114,393

TOTAL ASSETS LESS CURRENT LIABILITIES

3,569,797

3,580,577

CAPITAL AND RESERVES

Called up share capital

8

130,000

130,000

Retained earnings

9

3,439,797

3,450,577

SHAREHOLDERS' FUNDS

3,569,797

3,580,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 December 2023 and were signed by:

Mr P J Goldstein - Director

1.	STATUTORY INFORMATION

Nevica Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the company in the year under review was that of to manage group's resources.

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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements

The financial statements contain information about Nevica Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets

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

Fixtures and fittings

-

33.33% or 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2022

and 31 March 2023

10,048

DEPRECIATION

At 1 April 2022

and 31 March 2023

10,048

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2022

and 31 March 2023

466,184

NET BOOK VALUE

At 31 March 2023

466,184

At 31 March 2022

466,184

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

4,128,091

4,128,871

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed to group undertakings

1,023,878

1,013,878

Other creditors

600

600

1,024,478

1,014,478

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2023

2022

value:

£

£

130,000

Ordinary

£1

130,000

130,000

9.

RESERVES

Retained

earnings

£

At 1 April 2022

3,450,577

Deficit for the year

(10,780

)

At 31 March 2023

3,439,797

Retained Earnings

Includes all current and prior period retained profits and losses.

10.	RELATED PARTY DISCLOSURES

Mr P J Goldstein is a director of the company.

NTS Investments Limited is the parent company.

NTS AG is a subsidiary company.

Mr P J Goldstein owns a controlling interest in Eando Limited..

Each of the above is considered to be a related party.

The following aggregate transactions took place during the year between the company and its related parties, with the consequent balances:

2023

2022

£

£

Net debtor balance

3,104,213

3,105,493

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