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REGISTERED NUMBER: 09911024 (England and Wales)












NAMID LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






NAMID LTD (REGISTERED NUMBER: 09911024)

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


NAMID LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr D Angelis
Mrs E Kaskanea





REGISTERED OFFICE: Sterling House
Fulbourne Road
London
E17 4EE





REGISTERED NUMBER: 09911024 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

NAMID LTD (REGISTERED NUMBER: 09911024)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes €    €    €    €   
FIXED ASSETS
Investments 4 13,685,210 13,685,210

CURRENT ASSETS
Cash at bank 1,202,123 18,867

CREDITORS
Amounts falling due within one year 5 514,177 4,255,097
NET CURRENT ASSETS/(LIABILITIES) 687,946 (4,236,230 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,373,156

9,448,980

CAPITAL AND RESERVES
Called up share capital 286,896 286,896
Retained earnings 14,086,260 9,162,084
SHAREHOLDERS' FUNDS 14,373,156 9,448,980

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 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.

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 17 September 2024 and were signed on its behalf by:





Mr D Angelis - Director


NAMID LTD (REGISTERED NUMBER: 09911024)

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


1. STATUTORY INFORMATION

Namid 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.

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.

The financial statements are prepared in Euro being the most relevant currency for the company.

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

Investments in subsidiaries
Investments in associates are accounted for at cost less impairment in the individual financial statements.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments
Investment comprise investments in quoted equity and bonds which are measured at fair value. Changes in fair value are recognised in profit or loss though movement in fair value reserve shown in statement of comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

NAMID LTD (REGISTERED NUMBER: 09911024)

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


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
€   
COST
At 1 January 2023
and 31 December 2023 13,685,210
NET BOOK VALUE
At 31 December 2023 13,685,210
At 31 December 2022 13,685,210

The Company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

BETA CAE SYSTEMS INTERNATIONAL AG
Registered office: Switzerland
Nature of business: Holding Company
%
Class of shares: holding
Ordinary 25.00
31.12.23 31.12.22
€    €   
Aggregate capital and reserves 73,231,621 75,148,163
Profit for the year 20,094,768 25,093,481

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
€    €   
Bank loans and overdrafts (see note 6) - 3,744,869
Other creditors 458,926 458,926
Directors' current accounts 52,481 49,065
Accrued expenses 2,770 2,237
514,177 4,255,097

6. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
€    €   
Amounts falling due within one year or on demand:
Bank loans - 3,744,869

7. ULTIMATE CONTROLLING PARTY

Mr Dimitrios Angelis, the director, controls the company as a result of holding 100 percent of the voting rights of the issued share capital.