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REGISTERED NUMBER: 03432346 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NEMESIS LIMITED

NEMESIS LIMITED (REGISTERED NUMBER: 03432346)






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


NEMESIS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C Chance
M Cooper
S Bruce





SECRETARY: Mrs N G Chance





REGISTERED OFFICE: 1 Indurent Park
Norton Road
Broomhall
Worcester
Worcestershire
WR5 2QR





REGISTERED NUMBER: 03432346 (England and Wales)





ACCOUNTANTS: Clifton-Crick Sharp & Co. Ltd
Chartered Accountants
40 High Street
Pershore
Worcestershire
WR10 1DP

NEMESIS LIMITED (REGISTERED NUMBER: 03432346)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 322,893 295,947
322,893 295,947

CURRENT ASSETS
Stocks 1,145,704 793,433
Debtors 6 2,529,181 2,261,227
Cash at bank and in hand 75,079 66,811
3,749,964 3,121,471
CREDITORS
Amounts falling due within one year 7 2,150,972 1,412,753
NET CURRENT ASSETS 1,598,992 1,708,718
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,921,885

2,004,665

CREDITORS
Amounts falling due after more than one year 8 (56,853 ) (99,298 )

PROVISIONS FOR LIABILITIES (42,383 ) (49,270 )
NET ASSETS 1,822,649 1,856,097

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,822,647 1,856,095
SHAREHOLDERS' FUNDS 1,822,649 1,856,097

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.

NEMESIS LIMITED (REGISTERED NUMBER: 03432346)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





C Chance - Director


NEMESIS LIMITED (REGISTERED NUMBER: 03432346)

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

1. STATUTORY INFORMATION

NEMESIS 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.

Changes in accounting policies
As part of group rationalisation, the freehold property was transferred to Sisemen Ltd. The decision was taken to reverse the depreciation previously applied and the transfer was completed at cost price.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 50% on reducing balance and 20% on cost

Stocks
Stocks are valued at the lower of costs (calculated on a FIFO basis) and net realisable value, after making due allowance for obsolete and slow moving items. The directors discount non-current branded stock to 20% - 50% of cost, and dated stock which is past its expiry date to nil.

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.

NEMESIS LIMITED (REGISTERED NUMBER: 03432346)

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

2. ACCOUNTING POLICIES - continued

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 45 (2022 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 10,000
AMORTISATION
At 1 January 2023
and 31 December 2023 10,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 90,256 298,091 64,579
Additions - 98,002 12,544
At 31 December 2023 90,256 396,093 77,123
DEPRECIATION
At 1 January 2023 51,740 149,768 62,126
Charge for year 4,898 41,439 3,138
At 31 December 2023 56,638 191,207 65,264
NET BOOK VALUE
At 31 December 2023 33,618 204,886 11,859
At 31 December 2022 38,516 148,323 2,453

NEMESIS LIMITED (REGISTERED NUMBER: 03432346)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 212,093 171,588 836,607
Additions - 7,795 118,341
At 31 December 2023 212,093 179,383 954,948
DEPRECIATION
At 1 January 2023 131,547 145,479 540,660
Charge for year 32,098 9,822 91,395
At 31 December 2023 163,645 155,301 632,055
NET BOOK VALUE
At 31 December 2023 48,448 24,082 322,893
At 31 December 2022 80,546 26,109 295,947

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,700,220 1,250,101
Amounts owed by group undertakings 694,639 874,014
Other debtors 134,322 137,112
2,529,181 2,261,227

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 24,676 11,337
Hire purchase contracts 27,100 25,673
Trade creditors 1,170,397 1,048,735
Taxation and social security 383,209 199,346
Other creditors 545,590 127,662
2,150,972 1,412,753

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 25,000
Hire purchase contracts 56,853 74,298
56,853 99,298

NEMESIS LIMITED (REGISTERED NUMBER: 03432346)

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

9. 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
£    £   
C Chance
Balance outstanding at start of year 35,203 -
Amounts advanced 33,678 35,203
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,881 35,203

10. ULTIMATE CONTROLLING PARTY

The controlling party is C Chance.

Nemesis Ltd is a subsidiary of Sisemen Ltd which owns 100% of the issued share capital of Nemsis Ltd. The registered office of Sisemen Ltd is 1 Indurent Park Norton Road, Broomhall, Worcester, WR5 2QR. Chris Chance owns 100% of the shares in Sisemen Ltd and so is regarded as the ultimate controlling party of Nemesis Ltd.