NFS Meetings Technology Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04634959 (England and Wales)

Report of the Director and

Financial Statements

for the Year Ended 31 December 2021

for

NFS Meetings Technology Limited

Page

Company Information

1

Report of the Director

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr L DeSouza

SECRETARY:

Mrs A Desouza

REGISTERED OFFICE:

Church Barns

Ware Road

Widford

Hertfordshire

SG12 8RL

REGISTERED NUMBER:

04634959 (England and Wales)

ACCOUNTANTS:

KBMD Limited

Chartered Certified Accountants

Maple House

382 Kenton Road

Harrow

Middlesex

HA3 9DP

The director presents his report with the financial statements of the company for the year ended 31 December 2021.

DIRECTOR

Mr L DeSouza held office during the whole of the period from 1 January 2021 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr L DeSouza - Director

27 September 2022

FIXED ASSETS

Intangible assets

4

917,719

1,067,501

Tangible assets

5

14,926

8,616

Investments

6

21,846

21,846

954,491

1,097,963

CURRENT ASSETS

Debtors

1,149,502

851,306

Cash at bank and in hand

411,403

419,267

1,560,905

1,270,573

CREDITORS

Amounts falling due within one year

(654,138

)

(552,531

)

NET CURRENT ASSETS

906,767

718,042

TOTAL ASSETS LESS CURRENT LIABILITIES

1,861,258

1,816,005

CREDITORS

Amounts falling due after more than one year

(15,694

)

(245,000

)

NET ASSETS

1,845,564

1,571,005

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

1,795,564

1,521,005

SHAREHOLDERS' FUNDS

1,845,564

1,571,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 27 September 2022 and were signed by:

Mr L DeSouza - Director

1.	STATUTORY INFORMATION

NFS Meetings Technology 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets

Amortisation is provided at the following annual rates in order to reflect the expected pattern of depletion over its estimated useful life.

Patents and licences - 10% of cost

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

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2020 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

2,986,591

Additions

165,419

At 31 December 2021

3,152,010

AMORTISATION

At 1 January 2021

1,919,090

Amortisation for year

315,201

At 31 December 2021

2,234,291

NET BOOK VALUE

At 31 December 2021

917,719

At 31 December 2020

1,067,501

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

14,718

Additions

11,113

At 31 December 2021

25,831

DEPRECIATION

At 1 January 2021

6,102

Charge for year

4,803

At 31 December 2021

10,905

NET BOOK VALUE

At 31 December 2021

14,926

At 31 December 2020

8,616

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2021

and 31 December 2021

21,846

NET BOOK VALUE

At 31 December 2021

21,846

At 31 December 2020

21,846

7.

DEBENTURE

Hsbc Bank PLC hold a charge dated 23rd August 2011 over all assets of the Company.