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REGISTERED NUMBER: 09408026 (England and Wales)







Unaudited Financial Statements

for the Year Ended 29 February 2024

for

NEFE Limited

NEFE Limited (Registered number: 09408026)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEFE Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs N R Edwards
Mr K P Edwards





REGISTERED OFFICE: Unit D2 Short Way
Thornbury
Bristol
BS36 3UU





REGISTERED NUMBER: 09408026 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

NEFE Limited (Registered number: 09408026)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 70,582 40,092
Investments 5 103,858 103,858
174,440 143,950

CURRENT ASSETS
Debtors 6 952,229 766,916
Cash at bank 9,154 36,810
961,383 803,726
CREDITORS
Amounts falling due within one year 7 (275,670 ) (205,609 )
NET CURRENT ASSETS 685,713 598,117
TOTAL ASSETS LESS CURRENT LIABILITIES 860,153 742,067

CREDITORS
Amounts falling due after more than one year 8 (27,247 ) -

PROVISIONS FOR LIABILITIES (13,411 ) (7,680 )
NET ASSETS 819,495 734,387

CAPITAL AND RESERVES
Called up share capital 9 1,020 1,020
Retained earnings 818,475 733,367
SHAREHOLDERS' FUNDS 819,495 734,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

NEFE Limited (Registered number: 09408026)

Balance Sheet - continued
29 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 5 November 2024 and were signed on its behalf by:




Mrs N R Edwards - Director



Mr K P Edwards - Director


NEFE Limited (Registered number: 09408026)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

NEFE 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

NEFE Limited (Registered number: 09408026)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 10,074 1,704 91,570 4,588 107,936
Additions - - 54,090 - 54,090
Disposals - (1,704 ) (54,790 ) (4,588 ) (61,082 )
At 29 February 2024 10,074 - 90,870 - 100,944
DEPRECIATION
At 1 March 2023 3,600 1,352 58,718 4,174 67,844
Charge for year 1,619 88 8,213 137 10,057
Eliminated on disposal - (1,440 ) (41,788 ) (4,311 ) (47,539 )
At 29 February 2024 5,219 - 25,143 - 30,362
NET BOOK VALUE
At 29 February 2024 4,855 - 65,727 - 70,582
At 28 February 2023 6,474 352 32,852 414 40,092

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 54,090
At 29 February 2024 54,090
NET BOOK VALUE
At 29 February 2024 54,090

NEFE Limited (Registered number: 09408026)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 103,858
NET BOOK VALUE
At 29 February 2024 103,858
At 28 February 2023 103,858

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Amounts owed by group undertakings 931,595 748,539
Other debtors 17,059 17,059
VAT 2,221 1,318
Prepayments 1,354 -
952,229 766,916

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 8,100 -
Trade creditors - 3,450
Amounts owed to group undertakings 62,197 66,590
Directors' current accounts 201,358 135,569
Accrued expenses 4,015 -
275,670 205,609

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 27,247 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
60 Ordinary A £1 60 60
60 Ordinary B £1 60 60
900 Ordinary C £1 900 900
1,020 1,020