Silverfin false false 31/03/2024 01/04/2023 31/03/2024 S Hillier 16/06/2023 A Meredith 16/06/2023 28 November 2024 The principal activity of the company during the financial year was development of building projects. 14939791 2024-03-31 14939791 bus:Director1 2024-03-31 14939791 bus:Director2 2024-03-31 14939791 core:CurrentFinancialInstruments 2024-03-31 14939791 core:ShareCapital 2024-03-31 14939791 core:RetainedEarningsAccumulatedLosses 2024-03-31 14939791 core:CurrentFinancialInstruments core:Secured 2024-03-31 14939791 bus:OrdinaryShareClass1 2024-03-31 14939791 2023-04-01 2024-03-31 14939791 bus:FilletedAccounts 2023-04-01 2024-03-31 14939791 bus:SmallEntities 2023-04-01 2024-03-31 14939791 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14939791 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14939791 bus:Director1 2023-04-01 2024-03-31 14939791 bus:Director2 2023-04-01 2024-03-31 14939791 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 14939791 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14939791 (England and Wales)

NIXOR DEVELOPMENTS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

NIXOR DEVELOPMENTS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

NIXOR DEVELOPMENTS LTD

BALANCE SHEET

As at 31 March 2024
NIXOR DEVELOPMENTS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024
£
Current assets
Stocks 3 370,454
Debtors 4 5,331
375,785
Creditors: amounts falling due within one year 5 ( 437,546)
Net current liabilities (61,761)
Total assets less current liabilities (61,761)
Net liabilities ( 61,761)
Capital and reserves
Called-up share capital 6 100
Profit and loss account ( 61,861 )
Total shareholder's deficit ( 61,761)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Nixor Developments Ltd (registered number: 14939791) were approved and authorised for issue by the Board of Directors on 28 November 2024. They were signed on its behalf by:

A Meredith
Director
NIXOR DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
NIXOR DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

Nixor Developments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 7 Laundry Lane, Keyhaven Road, Milford-On-Sea, SO41 0WJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

Reporting period length is from 16.06.2023 to 31.03.2024

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024
Number
Monthly average number of persons employed by the Company during the year, including directors 2

3. Stocks

2024
£
Stocks (secured) 370,454

4. Debtors

2024
£
Other debtors 5,331

5. Creditors: amounts falling due within one year

2024
£
Amounts owed to Group undertakings 104,443
Other loans (secured £ 246,025) 329,475
Accruals 3,628
437,546

Loan of £246,025 is secured by fixed charge against stock (£367,800) of the company and by floating charge on all property of the company.

6. Called-up share capital

2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

7. Ultimate controlling party

Parent Company:

NIXOR BUILD LTD