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REGISTERED NUMBER: 09357244 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Nevis Resources Limited

Nevis Resources Limited (Registered number: 09357244)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nevis Resources Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S R Smith
M J Robb
C J McLean
C Robb





REGISTERED OFFICE: Unit 30, Innovation House
26 Longfield Road
South Church Enterprise Park
BISHOP AUCKLAND
Co Durham
DL14 6XB





REGISTERED NUMBER: 09357244 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Nevis Resources Limited (Registered number: 09357244)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,649 17,539
Investments 5 - 25
28,649 17,564

CURRENT ASSETS
Stocks 6 18,335 36,886
Debtors 7 319,154 624,408
Cash at bank 261,822 416,976
599,311 1,078,270
CREDITORS
Amounts falling due within one year 8 134,565 344,256
NET CURRENT ASSETS 464,746 734,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,395

751,578

CREDITORS
Amounts falling due after more than one
year

9

-

(148,042

)

PROVISIONS FOR LIABILITIES 11 (5,347 ) (4,285 )
NET ASSETS 488,048 599,251

CAPITAL AND RESERVES
Called up share capital 12 1,111 1,111
Share premium 15,873 15,873
Retained earnings 471,064 582,267
SHAREHOLDERS' FUNDS 488,048 599,251

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.

Nevis Resources Limited (Registered number: 09357244)

Balance Sheet - 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





S R Smith - Director


Nevis Resources Limited (Registered number: 09357244)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Nevis Resources 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from this standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Income recognition
Income is recognised when a contract for the sale of goods is determined as unconditional.

Government grants
Revenue based grants are credited to the profit and loss account in the period to which they relate.

Investments in associates
Investments in associate undertakings are recognised at cost less impairment.

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 - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are held cost less accumulated depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell after making due allowances for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Nevis Resources Limited (Registered number: 09357244)

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 50,000 666 - 8,013 58,679
Additions 1,125 1,547 12,000 1,180 15,852
At 31 December 2023 51,125 2,213 12,000 9,193 74,531
DEPRECIATION
At 1 January 2023 35,800 568 - 4,772 41,140
Charge for year 2,877 37 600 1,228 4,742
At 31 December 2023 38,677 605 600 6,000 45,882
NET BOOK VALUE
At 31 December 2023 12,448 1,608 11,400 3,193 28,649
At 31 December 2022 14,200 98 - 3,241 17,539

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 January 2023 25
Disposals (25 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 25

Nevis Resources Limited (Registered number: 09357244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. STOCKS
2023 2022
£    £   
Stocks 14,210 23,456
Work-in-progress 4,125 13,430
18,335 36,886

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 70,658 244,601
Other debtors 14,765 103,642
Directors' current accounts 10,000 10,000
Prepayments and accrued income 13,997 44,310
109,420 402,553

Amounts falling due after more than one year:
Other debtors 209,734 221,855

Aggregate amounts 319,154 624,408

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 48,000
Trade creditors 46,094 190,165
Taxation and social security - 28,666
Other creditors 9,700 4,304
Accruals and deferred income 78,771 73,121
134,565 344,256

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 48,000
Bank loans - 2-5 years - 100,042
- 148,042

Nevis Resources Limited (Registered number: 09357244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 196,042

Bank loans are secured by a fixed and floating charge over the company's assets.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,347 4,285

Deferred
tax
£   
Balance at 1 January 2023 4,285
Provided during year 1,062
Accelerated capital allowances
Balance at 31 December 2023 5,347

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
111 Ordinary £1 111 1,111
222 Ordinary A £1 222 -
223 Ordinary B £1 223 -
222 Ordinary C £1 222 -
223 Ordinary D £1 223 -
110 Ordinary E £1 110 -

1,111 1,111

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
M J Robb
Balance outstanding at start of year 10,000 10,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 10,000

Nevis Resources Limited (Registered number: 09357244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. RELATED PARTY DISCLOSURES

There were no related party transactions not concluded under normal market conditions except for
the following:

2023 2022
£ £
Amounts due from associate 199,975 199,975
Amounts due from director 10,000 10,000
Amounts due from shareholder - 91,000

No interest has been charged.