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REGISTERED NUMBER: 06819042 (England and Wales)

















Financial Statements for the Year Ended 31 December 2023

for

Nuclear Energy Components Ltd

Nuclear Energy Components Ltd (Registered number: 06819042)






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


Nuclear Energy Components Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D P Greenan
P N Longden
M G Keeley
V S Middleton OBE





SECRETARY: V S Middleton OBE





REGISTERED OFFICE: Newburgh Works
Bradwell
Hope Valley
Derbyshire
S33 9NT





REGISTERED NUMBER: 06819042 (England and Wales)





AUDITORS: Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

Nuclear Energy Components Ltd (Registered number: 06819042)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 324,064 58,077
324,064 58,077

CURRENT ASSETS
Stocks 6 47,200 29,569
Debtors 7 521,411 255,462
Cash at bank and in hand 65,144 212,968
633,755 497,999
CREDITORS
Amounts falling due within one year 8 (443,890 ) (332,549 )
NET CURRENT ASSETS 189,865 165,450
TOTAL ASSETS LESS CURRENT LIABILITIES 513,929 223,527

CREDITORS
Amounts falling due after more than one
year

9

(173,608

)

-

PROVISIONS FOR LIABILITIES (58,521 ) (1,070 )
NET ASSETS 281,800 222,457

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 281,700 222,357
SHAREHOLDERS' FUNDS 281,800 222,457

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:





V S Middleton OBE - Director


Nuclear Energy Components Ltd (Registered number: 06819042)

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

1. STATUTORY INFORMATION

Nuclear Energy Components 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business is amortised over its estimated useful life.

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.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Assets are capitalised if the individual value of the asset exceeds £5,000.

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.


Nuclear Energy Components Ltd (Registered number: 06819042)

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.

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.

Research and development costs
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 4,996
AMORTISATION
At 1 January 2023
and 31 December 2023 4,996
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Nuclear Energy Components Ltd (Registered number: 06819042)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 - 235,997 10,000 21,779 267,776
Additions 52,500 260,859 - - 313,359
Disposals - (3,267 ) - - (3,267 )
At 31 December 2023 52,500 493,589 10,000 21,779 577,868
DEPRECIATION
At 1 January 2023 - 177,920 10,000 21,779 209,699
Charge for year 3,744 40,361 - - 44,105
At 31 December 2023 3,744 218,281 10,000 21,779 253,804
NET BOOK VALUE
At 31 December 2023 48,756 275,308 - - 324,064
At 31 December 2022 - 58,077 - - 58,077

6. STOCKS
2023 2022
£    £   
Work-in-progress 8,465 7,178
Finished goods 38,735 22,391
47,200 29,569

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 490,952 232,862
Other debtor - 196
Prepayments and accrued income 30,459 22,404
521,411 255,462

Nuclear Energy Components Ltd (Registered number: 06819042)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) 46,440 -
Trade creditors 75,333 31,776
Tax 186,788 166,686
Social security and other taxes 17,890 16,040
VAT 74,170 81,617
Credit card 5,338 2,347
Pensions creditor 7,117 6,573
Accruals and deferred income 30,814 27,510
443,890 332,549

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) 173,608 -

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 46,440 -
Between one and five years 173,608 -
220,048 -

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases totalling £633,084 (2022 - £674,334).

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 220,048 -

Nuclear Energy Components Ltd (Registered number: 06819042)

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

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
85 A Ordinary £1 85 85
15 B, C & D Ordinary £1 15 15
100 100

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

The Report of the Auditors was unqualified.

Jonathon Dickens ACA (Senior Statutory Auditor)
for and on behalf of Sutton McGrath Hartley

14. RELATED PARTY DISCLOSURES

During the year the company paid rent totalling £71,250 (2022 - £68,000) to Hope Valley Industrial Limited.
V.S. Middleton is a director of Hope Valley Industrial Limited.