Nader, Hayaux Y Goebel (London) Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 December 2020
Company Registration No. 07301554 (England and Wales)
Nader, Hayaux Y Goebel (London) Limited
Company Information
Director
Y Hayaux du Tilly
Company number
07301554
Registered office
Devonshire House
60 Goswell Road
London
EC1M 7AD
Accountants
Moore Kingston Smith LLP
Devonshire House
60 Goswell Road
London
EC1M 7AD
Nader, Hayaux Y Goebel (London) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Nader, Hayaux Y Goebel (London) Limited
Balance Sheet
As at 31 December 2020
Page 1
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
374
Current assets
Debtors
4
104,500
100,828
Cash at bank and in hand
4,025
5,118
108,525
105,946
Creditors: amounts falling due within one year
5
(23,977)
(26,469)
Net current assets
84,548
79,477
Total assets less current liabilities
84,922
79,477
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
83,922
78,477
Total equity
84,922
79,477
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 30 September 2021
Y Hayaux du Tilly
Director
Company Registration No. 07301554
Nader, Hayaux Y Goebel (London) Limited
Notes to the Financial Statements
For the year ended 31 December 2020
Page 2
1
Accounting policies
Company information
Nader, Hayaux Y Goebel (London) Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Devonshire House, 60 Goswell Road, London, EC1M 7AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The effect of COVID-19 on the operations of the company has been considered. Due
the nature of the company’s activities and the ability of staff to work remotely, whilst the ultimate impact cannot be precisely quantified, the director does not expect the pandemic to significantly affect the ability of the company to continue in business and meet its liabilities as they fall due.
Thus the director continues to adopt the going concern basis of accounting in preparing the accounts.
1.3
Turnover
Turnover represents amounts receivable for professional services net of VAT.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
3 years straight line
Computer equipment
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
Nader, Hayaux Y Goebel (London) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2020
1
Accounting policies
(Continued)
Page 3
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Cash at bank and in hand
Cash and cash equivalents include
deposits held at call with banks
.
1.7
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Nader, Hayaux Y Goebel (London) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2020
1
Accounting policies
(Continued)
Page 4
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1
(2019 - 1).
Nader, Hayaux Y Goebel (London) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2020
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2020
2,484
Additions
433
At 31 December 2020
2,917
Depreciation and impairment
At 1 January 2020
2,484
Depreciation charged in the year
59
At 31 December 2020
2,543
Carrying amount
At 31 December 2020
374
At 31 December 2019
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Amounts due from group undertakings
102,462
94,058
Other debtors
2,038
6,770
104,500
100,828
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
2,183
860
Corporation tax
1,189
1,921
Other taxation and social security
2,156
3,622
Other creditors
18,449
20,066
23,977
26,469
Nader, Hayaux Y Goebel (London) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2020
Page 6
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
1,000
1,000
7
Related party transactions
The disclosure exemption conferred by FRS 102 Section 33.1A has been utilised, whereby the company has not disclosed transactions with the ultimate parent company.
8
Directors' transactions
Included within other creditors are amounts of £
12,731
(201
9
: £
14,598
) owed to the director. No interest is accruing on the balance due.
9
Parent company
The ultimate parent company is Nader, Hayaux Y Goebel S.C., a company registered in Mexico.
Nader, Hayaux Y Goebel S.C. prepares group financial statements and copies can be obtained from - Paseo de los Tamarindos 400-B piso, Bosques de las Lomas, 05120 Mexico D.F., Mexico.