IRIS Accounts Production v23.3.0.418 06732600 Board of Directors 1.11.21 31.10.22 31.10.22 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure067326002021-10-31067326002022-10-31067326002021-11-012022-10-31067326002020-10-31067326002020-11-012021-10-31067326002021-10-3106732600ns16:EnglandWales2021-11-012022-10-3106732600ns15:PoundSterling2021-11-012022-10-3106732600ns11:Director12021-11-012022-10-3106732600ns11:PrivateLimitedCompanyLtd2021-11-012022-10-3106732600ns11:SmallEntities2021-11-012022-10-3106732600ns11:AuditExempt-NoAccountantsReport2021-11-012022-10-3106732600ns11:SmallCompaniesRegimeForDirectorsReport2021-11-012022-10-3106732600ns11:SmallCompaniesRegimeForAccounts2021-11-012022-10-3106732600ns11:FullAccounts2021-11-012022-10-310673260012021-11-012022-10-3106732600ns11:OrdinaryShareClass12021-11-012022-10-3106732600ns11:Director22021-11-012022-10-3106732600ns11:RegisteredOffice2021-11-012022-10-3106732600ns6:CurrentFinancialInstruments2022-10-3106732600ns6:CurrentFinancialInstruments2021-10-3106732600ns6:Non-currentFinancialInstruments2022-10-3106732600ns6:Non-currentFinancialInstruments2021-10-3106732600ns6:ShareCapital2022-10-3106732600ns6:ShareCapital2021-10-3106732600ns6:RetainedEarningsAccumulatedLosses2022-10-3106732600ns6:RetainedEarningsAccumulatedLosses2021-10-3106732600ns6:IntangibleAssetsOtherThanGoodwill2021-11-012022-10-3106732600ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2021-11-012022-10-3106732600ns6:IntangibleAssetsOtherThanGoodwill2021-10-3106732600ns6:IntangibleAssetsOtherThanGoodwill2022-10-3106732600ns6:IntangibleAssetsOtherThanGoodwill2021-10-3106732600ns6:PlantMachinery2021-10-3106732600ns6:PlantMachinery2021-11-012022-10-3106732600ns6:PlantMachinery2022-10-3106732600ns6:PlantMachinery2021-10-3106732600ns6:AdditionsToInvestments2022-10-3106732600ns6:CostValuation2022-10-3106732600ns6:WithinOneYearns6:CurrentFinancialInstruments2022-10-3106732600ns6:WithinOneYearns6:CurrentFinancialInstruments2021-10-3106732600ns11:OrdinaryShareClass12022-10-3106732600ns11:Director112021-10-3106732600ns11:Director112020-10-3106732600ns11:Director112021-11-012022-10-3106732600ns11:Director112020-11-012021-10-3106732600ns11:Director112022-10-3106732600ns11:Director112021-10-31
REGISTERED NUMBER: 06732600 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2022

for

Nebra Ltd

Nebra Ltd (Registered number: 06732600)






Contents of the Financial Statements
for the year ended 31 October 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Nebra Ltd

Company Information
for the year ended 31 October 2022







DIRECTORS: A C Martin
A J Shaw





REGISTERED OFFICE: 25 The Drive
Sevenoaks
TN13 3AB





REGISTERED NUMBER: 06732600 (England and Wales)






Nebra Ltd (Registered number: 06732600)

Statement of Financial Position
31 October 2022

2022 2021
Notes £ £
FIXED ASSETS
Intangible assets 4 200,271 1,166,211
Tangible assets 5 6,424 8,789
Investments 6 100 -
206,795 1,175,000

CURRENT ASSETS
Stocks 4,801,812 5,108,538
Debtors 7 2,554,829 8,453,594
Cash at bank 94,516 10,030,220
7,451,157 23,592,352
CREDITORS
Amounts falling due within one year 8 (10,049,533 ) (22,615,167 )
NET CURRENT (LIABILITIES)/ASSETS (2,598,376 ) 977,185
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,391,581

)

2,152,185

CREDITORS
Amounts falling due after more than one year 9 (132,958 ) (148,139 )
NET (LIABILITIES)/ASSETS (2,524,539 ) 2,004,046

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings (2,525,539 ) 2,003,046
SHAREHOLDERS' FUNDS (2,524,539 ) 2,004,046

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 31 October 2023 and were signed on its behalf by:




A J Shaw - Director


Nebra Ltd (Registered number: 06732600)

Notes to the Financial Statements
for the year ended 31 October 2022

1. STATUTORY INFORMATION

Nebra Ltd 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.

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 assets - crypto currencies
Crypto currencies generated through mining or received as settlement for monetary assets are capitalised as intangible assets at the market value at the date the crypto currency is mined or received as payment for goods.

Crypto currencies are deemed to have an infinite useful life, but are reviewed for impairment losses.

Intangible assets - development costs
Development costs are capitalised as the company is able to reliably measure the expenditure attributable to the development phase and it can be demonstrated that the asset will generate probable future economic benefits.

After initial recognition, development costs 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 10 years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 25% straight line
Computer equipment 50% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Stock also includes Data Credits, a form of crypto token obtained by the subsequent conversion of crypto currency. These Data Credits are expensed to the profit and loss account against the corresponding product sale.

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 statement of financial position date.


Nebra Ltd (Registered number: 06732600)

Notes to the Financial Statements - continued
for the year ended 31 October 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Operating leases
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Government grants
Grant income in respect of revenue expenditure is matched and released to the income statement as the expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 6 ) .

Nebra Ltd (Registered number: 06732600)

Notes to the Financial Statements - continued
for the year ended 31 October 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 November 2021 1,194,878
Additions 55,100
Impairments (1,001,724 )
At 31 October 2022 248,254
AMORTISATION
At 1 November 2021 28,667
Charge for year 19,316
At 31 October 2022 47,983
NET BOOK VALUE
At 31 October 2022 200,271
At 31 October 2021 1,166,211

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 November 2021 42,608
Additions 6,462
At 31 October 2022 49,070
DEPRECIATION
At 1 November 2021 33,819
Charge for year 8,827
At 31 October 2022 42,646
NET BOOK VALUE
At 31 October 2022 6,424
At 31 October 2021 8,789

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
Additions 100
At 31 October 2022 100
NET BOOK VALUE
At 31 October 2022 100

Nebra Ltd (Registered number: 06732600)

Notes to the Financial Statements - continued
for the year ended 31 October 2022

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 82,219 1,293,658
Other debtors 2,472,610 7,159,936
2,554,829 8,453,594

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Bank loans and overdrafts 19,699 14,228
Trade creditors 4,603,597 2,526,986
Amounts owed to group undertakings 12,191 -
Taxation and social security 94,613 273,947
Other creditors 5,319,433 19,800,006
10,049,533 22,615,167

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£ £
Bank loans 79,158 55,939
Other creditors 53,800 92,200
132,958 148,139

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£ £
Other Loans 91,000 119,400

The Kent County Council have a fixed and floating charge over the property or undertaking of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £ £
1,000 Ordinary £1 1,000 1,000

12. OTHER FINANCIAL COMMITMENTS

Total operating lease commitments which are not included in the balance sheet amount to £8,677 falling due within one year, and £23,139 falling due within 5 years.

Nebra Ltd (Registered number: 06732600)

Notes to the Financial Statements - continued
for the year ended 31 October 2022

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021:

2022 2021
£ £
A J Shaw
Balance outstanding at start of year 14,003 6,180
Amounts advanced - 7,823
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,003 14,003