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REGISTERED NUMBER: 02677280 (England and Wales)















NDSL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






NDSL LIMITED (REGISTERED NUMBER: 02677280)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NDSL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J K Laurie
E W Philmon
R Willcock
E M Hercules





SECRETARY: R Willcock





REGISTERED OFFICE: Gloucester House
399 Silbury Boulevard
Milton Keynes
Buckinghamshire
MK9 2AH





REGISTERED NUMBER: 02677280 (England and Wales)





AUDITORS: Cooper Parry Group Ltd
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

NDSL LIMITED (REGISTERED NUMBER: 02677280)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,793 4,112
Investments 5 154 154
38,947 4,266

CURRENT ASSETS
Stocks 206,622 265,409
Debtors 6 384,081 1,508,376
Cash at bank 6,233,588 6,810,974
6,824,291 8,584,759
CREDITORS
Amounts falling due within one year 7 4,123,400 4,366,777
NET CURRENT ASSETS 2,700,891 4,217,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,739,838

4,222,248

PROVISIONS FOR LIABILITIES 9,698 781
NET ASSETS 2,730,140 4,221,467

CAPITAL AND RESERVES
Called up share capital 2,827,350 2,827,350
Retained earnings (97,210 ) 1,394,117
2,730,140 4,221,467

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 16 April 2024 and were signed on its behalf by:





R Willcock - Director


NDSL LIMITED (REGISTERED NUMBER: 02677280)

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

1. STATUTORY INFORMATION

NDSL 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no judgements that are deemed to have had a significant effect on amounts recognised in the financial statements.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

INVESTMENTS IN SUBSIDIARIES
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any
accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit
or loss.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


NDSL LIMITED (REGISTERED NUMBER: 02677280)

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

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 34,954
Additions 48,461
Disposals (26,983 )
At 31 December 2023 56,432
DEPRECIATION
At 1 January 2023 30,842
Charge for year 11,316
Eliminated on disposal (24,519 )
At 31 December 2023 17,639
NET BOOK VALUE
At 31 December 2023 38,793
At 31 December 2022 4,112

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2023
and 31 December 2023 154
NET BOOK VALUE
At 31 December 2023 154
At 31 December 2022 154

NDSL LIMITED (REGISTERED NUMBER: 02677280)

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

5. FIXED ASSET INVESTMENTS - continued

The company owns 100% of the issued share capital of the companies listed below:


Company Currency 2023 2022

Aggregate capital and reserves

Cellwatch Ltd (UK-dormant) GBP 2 2
NDSL Inc (USA) USD 11,839,000 10,196,000
NDSL Hong Kong Ltd HKD (301,161 ) (274,778 )
Newport Data Systems Ltd (UK-dormant) GBP 1 1

Profit and (loss) for the year


NDSL Inc (USA)

USD

1,643,000

1,577,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 367,869 589,315
Amounts owed by group undertakings - 904,041
Other debtors 16,212 15,020
384,081 1,508,376

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 23,962 17,460
Amounts owed to group undertakings 3,984,724 4,086,015
Taxation and social security 46,912 153,260
Other creditors 67,802 110,042
4,123,400 4,366,777

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 14,535 15,840
Between one and five years 3,525 -
18,060 15,840

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

The Report of the Auditors was unqualified.

George Style (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Ltd

NDSL LIMITED (REGISTERED NUMBER: 02677280)

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

10. RELATED PARTY DISCLOSURES

The directors consider that the ultimate parent undertaking and controlling related party of the
company at 31 December 2023 and 2022 is NDSL Group Limited, by virtue of its shareholding.

The largest and smallest group of undertakings for which group accounts have been drawn up is
that headed by NDSL Group Limited which is registered in England and Wales.

As a wholly owned subsidiary of NDSL Group Limited, the company is exempt from the
requirement to disclose transactions with other members of the group headed by NDSL Group
Limited as NDSL Group Limited prepares consolidated financial statements which are publicly
available from Companies House.