ACCOUNTS - Final Accounts preparation

NEVERN CAPITAL LTD - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2016-12-19 10532300 2016-12-18 10532300 2016-12-19 2017-12-31 10532300 2017-12-31 10532300 c:Director1 2016-12-19 2017-12-31 10532300 d:CurrentFinancialInstruments 2017-12-31 10532300 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 10532300 d:ShareCapital 2017-12-31 10532300 d:RetainedEarningsAccumulatedLosses 2017-12-31 10532300 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-12-31 10532300 c:OrdinaryShareClass1 2016-12-19 2017-12-31 10532300 c:OrdinaryShareClass1 2017-12-31 10532300 c:FRS102 2016-12-19 2017-12-31 10532300 c:AuditExempt-NoAccountantsReport 2016-12-19 2017-12-31 10532300 c:FullAccounts 2016-12-19 2017-12-31 10532300 c:PrivateLimitedCompanyLtd 2016-12-19 2017-12-31 xbrli:shares iso4217:GBP xbrli:pure

10532300

NEVERN CAPITAL LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2017

NEVERN CAPITAL LTD

REGISTERED NUMBER: 10532300

BALANCE SHEET

AS AT 31 DECEMBER 2017

		2017
Note		£


Current assets
Cash at bank and in hand	6	46,645
		46,645
Creditors: amounts falling due within one year	7	(23,386)
Net current assets			23,259
Total assets less current liabilities			23,259

Net assets			23,259

Capital and reserves
Called up share capital	9	100
Profit and loss account		23,159
		23,259

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

L D Santos

Director

Date: 26 April 2018

The notes on pages 2 to 4 form part of these financial statements.

Page 1

NEVERN CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2017

1.	General information

Nevern Capital Ltd is a private company, limited by shares. the company is incorporated in England and Wales and the address of the registered office is 5 Nevern Square, London, SW5 9NN. The company registered number is 10532300.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2

NEVERN CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in the Profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the period was 1.

Stocks

Debtors

6.	Cash and cash equivalents
		2017
		£

	Cash at bank and in hand	46,645

7.	Creditors: Amounts falling due within one year
		2017
		£

	Corporation tax	5,520
	Other creditors	16,866
	Accruals and deferred income	1,000

Page 3

NEVERN CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2017

8.	Financial instruments
		2017
		£

	Financial assets
	Financial assets measured at fair value through profit or loss	46,645

Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

9.	Share capital
		2017
		£
	Shares classified as equity

		Allotted, called up and fully paid

		100 Ordinary shares of £1 each	100

During the period under review, the company issued 100 £1 ordinary shares for cash consideration to create the initial capital base of the company.

10.	Transactions with directors
	Included within other creditors is an amount of £16,866 owed to the director L D Santos. There are no fixed terms of interest or repayment in respect of this amount.

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