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REGISTERED NUMBER: 09981651 (England and Wales)













NAFD VENTURES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






NAFD VENTURES LIMITED (REGISTERED NUMBER: 09981651)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


NAFD VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J C Adams
Ms C S Edwards
J M D Field
A W Judd



REGISTERED OFFICE: 31 St John's
Worcester
Worcestershire
WR2 5AG



REGISTERED NUMBER: 09981651 (England and Wales)



AUDITORS: Gardiner Fosh
Chartered Accountants and Statutory Auditor
31 St John's
Worcester
Worcestershire
WR2 5AG



BANKERS: HSBC
34 Poplar Road
Solihull
West Midlands
B91 3AF

NAFD VENTURES LIMITED (REGISTERED NUMBER: 09981651)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,293 3,018

CURRENT ASSETS
Debtors 5 49,849 200,446
Cash at bank 435,161 448,843
485,010 649,289
CREDITORS
Amounts falling due within one year 6 363,479 749,357
NET CURRENT ASSETS/(LIABILITIES) 121,531 (100,068 )
TOTAL ASSETS LESS CURRENT LIABILITIES 122,824 (97,050 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 122,724 (97,150 )
122,824 (97,050 )

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2023 and were signed on its behalf by:





A W Judd - Director


NAFD VENTURES LIMITED (REGISTERED NUMBER: 09981651)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

NAFD Ventures 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 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.

Going concern
The directors are confident that the company has the operating assets and engagement of competent operatives to service continuing activity. The directors therefore consider it appropriate to continue to prepare the financial statements on a going concern basis.

Turnover
The commercial activity of the company centres on a bi-annual trade exhibition and therefore all revenues generated from that are not taken to Income until the year in which the exhibition actually takes place.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

NAFD VENTURES LIMITED (REGISTERED NUMBER: 09981651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 8,623
AMORTISATION
At 1 April 2022 5,605
Charge for year 1,725
At 31 March 2023 7,330
NET BOOK VALUE
At 31 March 2023 1,293
At 31 March 2022 3,018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,264 87,754
Other debtors 16,585 112,692
49,849 200,446

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,149 7,028
Amounts owed to group undertakings 190,596 190,596
Taxation and social security 17,057 6,980
Other creditors 145,677 544,753
363,479 749,357

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gavin P Gardiner (Senior Statutory Auditor)
for and on behalf of Gardiner Fosh

8. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of NAFD Limited, a private company registered in England, company number 11674376.

The ultimate controlling party is National Association of Funeral Directors CLG, a private company registered in England, company number 10885560.