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REGISTERED NUMBER: 06800621 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NEREIDES DISTRIBUTION LIMITED

NEREIDES DISTRIBUTION LIMITED (REGISTERED NUMBER: 06800621)

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


NEREIDES DISTRIBUTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P Amaddeo
V Amaddeo
B Amaddeo





SECRETARY: B Amaddeo





REGISTERED OFFICE: 50 Seymour Street
London
W1H 7JG





REGISTERED NUMBER: 06800621 (England and Wales)





ACCOUNTANTS: Orcom Civvals Limited
Accountants
50 Seymour Street
London
W1H 7JG

NEREIDES DISTRIBUTION LIMITED (REGISTERED NUMBER: 06800621)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,141 120,451

CURRENT ASSETS
Stocks 101,573 155,273
Debtors 5 247,254 246,014
Cash at bank and in hand 48,193 185,515
397,020 586,802
CREDITORS
Amounts falling due within one year 6 455,709 602,781
NET CURRENT LIABILITIES (58,689 ) (15,979 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,452

104,472

CREDITORS
Amounts falling due after more than
one year

7

15,832

25,833
NET ASSETS 15,620 78,639

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 15,520 78,539
SHAREHOLDERS' FUNDS 15,620 78,639

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.

NEREIDES DISTRIBUTION LIMITED (REGISTERED NUMBER: 06800621)

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 18 September 2024 and were signed on its behalf by:





B Amaddeo - Director


NEREIDES DISTRIBUTION LIMITED (REGISTERED NUMBER: 06800621)

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


1. STATUTORY INFORMATION

Nereides Distribution 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.

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.

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.
Short leasehold - Over the life of the lease
Improvements to property - 25% on reducing balance
Fixtures, fittings and equipment - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

NEREIDES DISTRIBUTION LIMITED (REGISTERED NUMBER: 06800621)

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.

Going concern
Based on the continued support of the directors, they consider that it is appropriate to prepare the financial statement on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Improvements fittings
Short to and Computer
leasehold property equipment equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 52,526 312,182 92,434 17,790 474,932
Additions - - 1,686 - 1,686
At 31 December 2023 52,526 312,182 94,120 17,790 476,618
DEPRECIATION
At 1 January 2023 29,694 234,369 74,798 15,620 354,481
Charge for year 7,167 19,453 4,831 545 31,996
At 31 December 2023 36,861 253,822 79,629 16,165 386,477
NET BOOK VALUE
At 31 December 2023 15,665 58,360 14,491 1,625 90,141
At 31 December 2022 22,832 77,813 17,636 2,170 120,451

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,944 17,541
Other debtors 54,355 54,355
Tax 55,204 55,204
Prepayments 113,751 118,914
247,254 246,014

NEREIDES DISTRIBUTION LIMITED (REGISTERED NUMBER: 06800621)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 9,999
Trade creditors 88,489 90,152
Social security and other taxes 6,095 17,629
VAT 31,095 51,062
Inter Company balance - France
branch

294,235

422,939
Accrued expenses 25,795 11,000
455,709 602,781

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 15,832 20,000
Bank loans - 2-5 years - 5,833
15,832 25,833

The company has taken out a Bounce Back loan for a term of 6 years at a rate of 2.5% commencing from July 2020.

There is automatically one year with no capital payments or interest and the Business Interruption Payment element relating to this was £1,250.

Monthly repayments start from year 2 over the remaining term of the loan.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

At year end, balance owed to parent company, Nereides Distribution SARL is £294,235

10. POST BALANCE SHEET EVENTS

There were no material events subsequent to 31 December 2022 and up until the authorisation of the financial statements for issue, that have not been disclosed elsewhere in the financial statements.

11. ULTIMATE CONTROLLING PARTY

Nereides Distribution SARL which is incorporated in France, controls the company by virtue of its 100% shareholding in the company.