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Registered number: 07791696
Nodax UK Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
Good Practices & Service Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07791696
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,784 8,113
16,784 8,113
CURRENT ASSETS
Stocks 45,588 59,857
Debtors 5 20,377 19,892
Cash at bank and in hand 86,712 84,505
152,677 164,254
Creditors: Amounts Falling Due Within One Year 6 (184,616 ) (189,022 )
NET CURRENT ASSETS (LIABILITIES) (31,939 ) (24,768 )
TOTAL ASSETS LESS CURRENT LIABILITIES (15,155 ) (16,655 )
NET LIABILITIES (15,155 ) (16,655 )
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account (15,355 ) (16,855 )
SHAREHOLDERS' FUNDS (15,155) (16,655)
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Damian Smolenkiewicz
Director
14/10/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Nodax UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07791696 . The registered office is Cornfields Barn 1, Sibleys Lane, Thaxted, Dunmow, Essex, CM6 2NU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 33%
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of profit and loss because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Provision is made for Deferred Taxation using the liability method to take account of timing differences between the incidence of income and expenditure for taxation and accounting purposes, that have originated, but not reversed at the Balance Sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
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4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 October 2022 38,123
Additions 10,668
As at 30 September 2023 48,791
Depreciation
As at 1 October 2022 30,010
Provided during the period 1,997
As at 30 September 2023 32,007
Net Book Value
As at 30 September 2023 16,784
As at 1 October 2022 8,113
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,647 1,162
Other debtors 18,730 18,730
20,377 19,892
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 24,494 38,441
Bank loans and overdrafts 52,235 53,283
Other creditors 35,822 16,422
Taxation and social security 72,065 80,876
184,616 189,022
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
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