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REGISTERED NUMBER: 06511230 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2024

for

NEM Plant Limited

NEM Plant Limited (Registered number: 06511230)

Contents of the Financial Statements
for the Year Ended 28 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEM Plant Limited

Company Information
for the Year Ended 28 February 2024







DIRECTORS: Mr J A Kimbell
Mr J B Oliver





REGISTERED OFFICE: Brook Farm
Cornhill
Towcester
Northamptonshire
NN12 8LQ





REGISTERED NUMBER: 06511230 (England and Wales)





ACCOUNTANTS: Richard Clarke & Co (At Your Service) Ltd
Unit 3, Mobbs Miller House
Christchurch Road
Northampton
Northamptonshire
NN1 5LL

NEM Plant Limited (Registered number: 06511230)

Balance Sheet
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 739,975 495,513

CURRENT ASSETS
Debtors 5 80,161 118,455
Cash at bank 201,812 99,859
281,973 218,314
CREDITORS
Amounts falling due within one year 6 208,980 137,697
NET CURRENT ASSETS 72,993 80,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

812,968

576,130

CREDITORS
Amounts falling due after more than one year 7 (138,250 ) (40,452 )

PROVISIONS FOR LIABILITIES (175,045 ) (119,887 )
NET ASSETS 499,673 415,791

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 499,573 415,691
499,673 415,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

NEM Plant Limited (Registered number: 06511230)

Balance Sheet - continued
28 February 2024


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 6 November 2024 and were signed on its behalf by:




Mr J A Kimbell - Director



Mr J B Oliver - Director


NEM Plant Limited (Registered number: 06511230)

Notes to the Financial Statements
for the Year Ended 28 February 2024


1. STATUTORY INFORMATION

NEM Plant 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.

Turnover
Turnover represents amounts invoiced for goods and services provided in the year, exclusive of value added tax, after having adjusted for contracts for ongoing services. In respect of ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced, by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 5% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

NEM Plant Limited (Registered number: 06511230)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024


4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Cost
At 1 March 2023 18,600 1,021,959 76,043 1,116,602
Additions - 326,927 78,550 405,477
Disposals - (55,850 ) - (55,850 )
At 28 February 2024 18,600 1,293,036 154,593 1,466,229
Depreciation
At 1 March 2023 5,635 555,866 59,588 621,089
Charge for year 930 115,886 23,752 140,568
Eliminated on disposal - (35,403 ) - (35,403 )
At 28 February 2024 6,565 636,349 83,340 726,254
Net book value
At 28 February 2024 12,035 656,687 71,253 739,975
At 28 February 2023 12,965 466,093 16,455 495,513

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
Cost
At 1 March 2023 215,330
Additions 347,101
Transfer to ownership (104,000 )
At 28 February 2024 458,431
Depreciation
At 1 March 2023 59,706
Charge for year 73,280
Transfer to ownership (37,440 )
At 28 February 2024 95,546
Net book value
At 28 February 2024 362,885
At 28 February 2023 155,624

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,579 91,975
Other debtors 6,582 26,480
80,161 118,455

NEM Plant Limited (Registered number: 06511230)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 137,993 60,741
Trade creditors 33,668 53,651
Taxation and social security 2,808 15,524
Other creditors 34,511 7,781
208,980 137,697

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 138,250 40,452

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 276,243 101,193

Hire purchase contracts are secured upon the assets to which they relate.