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REGISTERED NUMBER: 04440286 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NAVSON LTD

NAVSON LTD (REGISTERED NUMBER: 04440286)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NAVSON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S Kanal





SECRETARY: S Kanal





REGISTERED OFFICE: Navson House
Eversley Way
Egham
Surrey
TW20 8RY





REGISTERED NUMBER: 04440286 (England and Wales)





ACCOUNTANTS: Herath Associates Limited
Chartered Certified Accountants
1 Chiltern Business Centre
Amersham
Buckinghamshire
HP6 6AA

NAVSON LTD (REGISTERED NUMBER: 04440286)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,503,407 2,653,647

CURRENT ASSETS
Stocks 388,857 671,766
Debtors 5 3,036,020 3,905,649
Cash at bank 565,145 744,554
3,990,022 5,321,969
CREDITORS
Amounts falling due within one year 6 2,357,811 4,539,693
NET CURRENT ASSETS 1,632,211 782,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,135,618

3,435,923

CREDITORS
Amounts falling due after more than one year 7 (708,770 ) (699,326 )

PROVISIONS FOR LIABILITIES (52,264 ) (56,769 )
NET ASSETS 3,374,584 2,679,828

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 10 418,930 416,289
Retained earnings 2,954,654 2,262,539
SHAREHOLDERS' FUNDS 3,374,584 2,679,828

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 director acknowledges his 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.

NAVSON LTD (REGISTERED NUMBER: 04440286)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 director and authorised for issue on 20 September 2024 and were signed by:





S Kanal - Director


NAVSON LTD (REGISTERED NUMBER: 04440286)

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


1. STATUTORY INFORMATION

Navson 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 as modified by the revaluation of certain assets.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 20% 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 statement of financial position date.

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.

NAVSON LTD (REGISTERED NUMBER: 04440286)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received.

However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Going concern
The director regularly reviews forecasts of cash flows and profitability. Based on these forecasts, the director has a reasonable expectation that there are adequate resources for the company to continue in operational existence for the foreseeable future. The director therefore continues to adopt the going concern basis of accounting in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 975,000 2,032,217 3,007,217
Additions - 122,407 122,407
Disposals - (189,547 ) (189,547 )
At 31 December 2023 975,000 1,965,077 2,940,077
DEPRECIATION
At 1 January 2023 56,000 297,570 353,570
Charge for year 7,000 166,805 173,805
Eliminated on disposal - (90,705 ) (90,705 )
At 31 December 2023 63,000 373,670 436,670
NET BOOK VALUE
At 31 December 2023 912,000 1,591,407 2,503,407
At 31 December 2022 919,000 1,734,647 2,653,647

NAVSON LTD (REGISTERED NUMBER: 04440286)

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


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2014 439,993 - 439,993
Cost 535,007 1,965,077 2,500,084
975,000 1,965,077 2,940,077

If Freehold land and building had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 535,007 535,007
Aggregate depreciation 94,203 89,067

Value of land in freehold land and buildings 440,804 445,940

Freehold land and building were valued on an open market basis on 31 December 2014 by Haslams, Chartered Surveyors .

5. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 2,015,486 2,889,649
Other debtors 4,534 -
2,020,020 2,889,649

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,016,000 1,016,000

Aggregate amounts 3,036,020 3,905,649

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 687,722 1,639,452
Finance leases - 25,654
Trade creditors 925,246 2,254,650
Taxation and social security 105,598 232,650
Other creditors 639,245 387,287
2,357,811 4,539,693

NAVSON LTD (REGISTERED NUMBER: 04440286)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 708,770 699,326

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 669,056 1,592,676
Bank loans 727,436 746,102
1,396,492 2,338,778

The bank overdraft and loans are held with National Westminster Bank Plc and The Royal Bank of Scotland and are secured on the assets of the business and personal guarantees given by the directors of the company.

.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary 1 1,000 1,000

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023 416,289
Revaluation reserve 2,641

At 31 December 2023 418,930

11. RELATED PARTY DISCLOSURES

The loan balance owing by a group company at the year end was £1,016,000 (2022: £1,016,000).

During the year the company sold goods valued at £1,104,128 to a related party and purchased goods of £732,810 from that related party. At the year end the related party owed the company £1,090,448.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Kanal.