Nevica Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01372840 (England and Wales)

NEVICA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P J Goldstein

SECRETARY:

R K Karia

REGISTERED OFFICE:

39A Welbeck Street

London

W1G 8DH

REGISTERED NUMBER:

01372840 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

39A Welbeck Street

London

W1G 8DH

FIXED ASSETS

Tangible assets

4

157

209

Investments

5

36,500

36,500

36,657

36,709

CURRENT ASSETS

Debtors

6

4,126,703

4,126,173

Cash at bank

9,343

9,168

4,136,046

4,135,341

CREDITORS

Amounts falling due within one year

7

553,593

553,662

NET CURRENT ASSETS

3,582,453

3,581,679

TOTAL ASSETS LESS CURRENT LIABILITIES

3,619,110

3,618,388

CAPITAL AND RESERVES

Called up share capital

8

130,000

130,000

Retained earnings

9

3,489,110

3,488,388

SHAREHOLDERS' FUNDS

3,619,110

3,618,388

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 7th December 2017 and were signed by:

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 has taken the option under Section 398

of the Companies Act 2006 not 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

Motor vehicles

-

25% on reducing balance

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 NIL (2016 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st April 2016

and 31st March 2017

10,048

49,400

59,448

DEPRECIATION

At 1st April 2016

10,048

49,191

59,239

Charge for year

-

52

52

At 31st March 2017

10,048

49,243

59,291

NET BOOK VALUE

At 31st March 2017

-

157

157

At 31st March 2016

-

209

209

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st April 2016

and 31st March 2017

36,500

NET BOOK VALUE

At 31st March 2017

36,500

At 31st March 2016

36,500

The company's investments at the Balance Sheet date in the share capital of companies include the following:

NTS (UK) Ltd

Registered office: England and Wales

Nature of business: Property development

%

Class of shares:

holding

Ordinary shares

100.00

2017

2016

£

£

Aggregate capital and reserves

813

1,000

(Loss)/profit for the year

(187

)

3,152

NTS AG

Registered office: Switzerland

Nature of business: Wholesaler of sports and leisurewear

%

Class of shares:

holding

Ordinary shares

100.00

31/12/16

31/12/15

£

£

Aggregate capital and reserves

548,033

586,312

(Loss)/profit for the year

(88,897

)

10,073

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

-

305,566

Other debtors

4,126,703

3,820,607

4,126,703

4,126,173

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

5,000

4,999

Amounts owed to group undertakings

548,146

547,616

Other creditors

447

1,047

553,593

553,662

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2017

2016

value:

£

£

130,000

Ordinary

£1

130,000

130,000

9.

RESERVES

Retained

earnings

£

At 1st April 2016

3,488,388

Profit for the year

722

At 31st March 2017

3,489,110

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.

Expert Property Limited is a fellow subsidiary of NTS Investments Limited.

NTS (UK) Limited, and NTS AG are subsidiary companies.

Mr P J Goldstein owns a controlling interest in Eando Limited. He owned a controlling interest in Telegraph Hill

3 Limited and Eastbase Limited until their dissolution 5 July 2016 an 17 January 2017 respectively .

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:

£

Net debtor brought forward and carried forward

3,565,541

11.

CONTROL

In the current year and the previous year the company was under the control of Mr P J Goldstein, who is a

director and has a controlling interest in the parent company, NTS Investments Limited.

12.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 ( FRS 102 1A). The last financial statements under the UK GAAP

were for the year ended 31 March 2016. The date of transition to FRS 102 1A was 1 April 2015.

The directors assessed the effects of the application of FRS 102 1A to the transactions for the year ended 31

March 2016 and the balances at 1 April 2015 and 31 March 2016. In the directors' opinion, there is no material

difference from the amounts for those transactions and balances as reported under previous UK GAAP.

Consequently there are no transitional adjustments on adoption of FRS 102 1A.