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REGISTERED NUMBER: 06511230 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

NEM Plant Limited

NEM Plant Limited (Registered number: 06511230)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEM Plant Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr J A Kimbell
Mr J B Oliver





REGISTERED OFFICE: Brook Farm
Cornhill
Towcester
Northamptonshire
NN12 8LQ





REGISTERED NUMBER: 06511230 (England and Wales)





ACCOUNTANTS: Richard Clarke & Co (At Your Service) Ltd
Unit 3, Mobbs Miller House
Christchurch Road
Northampton
Northamptonshire
NN1 5LL

NEM Plant Limited (Registered number: 06511230)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 495,513 383,694

CURRENT ASSETS
Stocks - 4,275
Debtors 5 118,455 100,716
Cash at bank 99,859 47,167
218,314 152,158
CREDITORS
Amounts falling due within one year 6 137,697 124,484
NET CURRENT ASSETS 80,617 27,674
TOTAL ASSETS LESS CURRENT
LIABILITIES

576,130

411,368

CREDITORS
Amounts falling due after more than one year 7 (40,452 ) (26,809 )

PROVISIONS FOR LIABILITIES (119,887 ) (69,656 )
NET ASSETS 415,791 314,903

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 415,691 314,803
415,791 314,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

NEM Plant Limited (Registered number: 06511230)

Balance Sheet - continued
28 February 2023


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 28 November 2023 and were signed on its behalf by:




Mr J A Kimbell - Director



Mr J B Oliver - Director


NEM Plant Limited (Registered number: 06511230)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

NEM Plant 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 represents amounts invoiced for goods and services provided in the year, exclusive of value added tax, after having adjusted for contracts for ongoing services. In respect of ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced, by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost, 20% on reducing balance and 5% on cost

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.

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

NEM Plant Limited (Registered number: 06511230)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 March 2022 18,600 810,191 76,043 1,162 905,996
Additions - 241,643 - - 241,643
Disposals - (29,875 ) - (1,162 ) (31,037 )
At 28 February 2023 18,600 1,021,959 76,043 - 1,116,602
Depreciation
At 1 March 2022 4,705 462,332 54,103 1,162 522,302
Charge for year 930 116,524 5,485 - 122,939
Eliminated on disposal - (22,990 ) - (1,162 ) (24,152 )
At 28 February 2023 5,635 555,866 59,588 - 621,089
Net book value
At 28 February 2023 12,965 466,093 16,455 - 495,513
At 28 February 2022 13,895 347,859 21,940 - 383,694

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

Plant and
machinery
etc
£   
Cost
At 1 March 2022 273,100
Additions 111,330
Transfer to ownership (169,100 )
At 28 February 2023 215,330
Depreciation
At 1 March 2022 103,321
Charge for year 38,906
Transfer to ownership (82,521 )
At 28 February 2023 59,706
Net book value
At 28 February 2023 155,624
At 28 February 2022 169,779

NEM Plant Limited (Registered number: 06511230)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 91,975 15,793
Other debtors 26,480 84,923
118,455 100,716

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 60,741 63,049
Trade creditors 53,651 30,662
Taxation and social security 15,524 24,069
Other creditors 7,781 6,704
137,697 124,484

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 40,452 26,809

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 101,193 89,858

Hire purchase contracts are secured upon the assets to which they relate.