Nivek Security Limited - Accounts to registrar - small 17.2

NIVEK SECURITY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K L Bridges

SECRETARY:

Mrs C D Bridges

REGISTERED OFFICE:

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

REGISTERED NUMBER:

04794124 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Tangible assets

4

4,459

5,927

CURRENT ASSETS

Stocks

250

250

Debtors

5

2,240

3,538

Cash at bank

6,007

8,689

8,497

12,477

CREDITORS

Amounts falling due within one year

6

11,775

16,228

NET CURRENT LIABILITIES

(3,278

)

(3,751

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,181

2,176

PROVISIONS FOR LIABILITIES

8

900

1,200

NET ASSETS

281

976

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

181

876

SHAREHOLDERS' FUNDS

281

976

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 15 August 2017 and were signed by:

K L Bridges - Director

1.	STATUTORY INFORMATION

Nivek Security 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 (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures, fittings and equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of

the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

and 31 March 2017

776

7,573

417

8,766

DEPRECIATION

At 1 April 2016

489

2,130

220

2,839

Charge for year

58

1,361

49

1,468

At 31 March 2017

547

3,491

269

4,307

NET BOOK VALUE

At 31 March 2017

229

4,082

148

4,459

At 31 March 2016

287

5,443

197

5,927

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2016

7,573

Transfer to ownership

(7,573

)

At 31 March 2017

-

DEPRECIATION

At 1 April 2016

2,130

Transfer to ownership

(2,130

)

At 31 March 2017

-

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

5,443

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,735

3,060

Other debtors

505

478

2,240

3,538

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

2,815

Trade creditors

100

169

Taxation and social security

2,213

2,162

Other creditors

9,462

11,082

11,775

16,228

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

-

2,815

Amounts owing on hire purchase agreements are secured on the individual assets concerned.

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

900

1,200

Deferred

tax

£

Balance at 1 April 2016

1,200

Provided during year

(300

)

Balance at 31 March 2017

900

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 April 2016

876

Profit for the year

3,805

Dividends

(4,500

)

At 31 March 2017

181

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £4,050 (2016 - £1,800) were paid to the director .