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Registration number: 11993707

Naplex Digital Communications Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Naplex Digital Communications Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Naplex Digital Communications Limited

Company Information

Directors

Mrs Maxine Shields

Mr Scott Shields

Registered office

Yew Trees
Clyst St. George
Exeter
Devon
EX3 0RE

Accountants

Tax And Financial Solutions Limited
Higher Upcott
Chudleigh
Newton Abbott
Devon
TQ13 0DN

 

Naplex Digital Communications Limited

(Registration number: 11993707)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

37,674

58,383

Current assets

 

Debtors

5

522,090

459,461

Cash at bank and in hand

 

765,456

472,482

 

1,287,546

931,943

Creditors: Amounts falling due within one year

6

(304,303)

(172,563)

Net current assets

 

983,243

759,380

Total assets less current liabilities

 

1,020,917

817,763

Creditors: Amounts falling due after more than one year

6

(15,765)

(25,919)

Provisions for liabilities

-

(11,093)

Net assets

 

1,005,152

780,751

Capital and reserves

 

Called up share capital

2

2

Retained earnings

1,005,150

780,749

Shareholders' funds

 

1,005,152

780,751

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 August 2024 and signed on its behalf by:
 

.........................................
Mr Scott Shields
Director

 

Naplex Digital Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Yew Trees
Clyst St. George
Exeter
Devon
EX3 0RE
England

These financial statements were authorised for issue by the Board on 15 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Naplex Digital Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Motor Vehicles

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Naplex Digital Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2022 - 36).

 

Naplex Digital Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

19,067

80,467

99,534

Additions

201

-

201

At 30 November 2023

19,268

80,467

99,735

Depreciation

At 1 December 2022

8,964

32,187

41,151

Charge for the year

4,817

16,093

20,910

At 30 November 2023

13,781

48,280

62,061

Carrying amount

At 30 November 2023

5,487

32,187

37,674

At 30 November 2022

10,103

48,280

58,383

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

238,294

-

Amounts owed by related parties

8

280,000

280,000

Prepayments

 

3,796

32,856

Other debtors

 

-

146,605

   

522,090

459,461

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

10,000

10,000

Trade creditors

 

32,563

30,030

Taxation and social security

 

205,657

123,500

Accruals and deferred income

 

1,582

-

Other creditors

 

54,501

9,033

 

304,303

172,563

 

Naplex Digital Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

15,765

25,919

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

15,000

25,000

Other borrowings

765

919

15,765

25,919

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

8

Related party transactions

 

Naplex Digital Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr Scott Shields

Directors Loan

807

(28,669)

28,514

651

         
       

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr Scott Shields

Directors Loan

5,665

(18,528)

13,670

807

         
       

 

 

Naplex Digital Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Summary of transactions with entities with joint control or significant interest

Godrevyhomes Ltd
 A company under common control
 

Loans to related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

280,000

280,000

At end of period

280,000

280,000

2022

Entities with joint control or significant influence
£

Total
£

Advanced

280,000

280,000

At end of period

280,000

280,000