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REGISTERED NUMBER: 07292723 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 June 2024

for

Nedex Ltd

Nedex Ltd (Registered number: 07292723)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Nedex Ltd

Company Information
for the Year Ended 29 June 2024







DIRECTOR: Ms L Dexter





REGISTERED OFFICE: Thornton House Farm
Sutton Lane
Barmby Moor
York
YO42 4DD





REGISTERED NUMBER: 07292723 (England and Wales)





ACCOUNTANTS: Wild & Co Chartered Accountants
Windsor House
Cornwall Road
Harrogate
HG1 2PW

Nedex Ltd (Registered number: 07292723)

Abridged Balance Sheet
29 June 2024

29.6.24 29.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,250 6,000
Tangible assets 5 57,710 61,109
Investment property 6 500,000 500,000
562,960 567,109

CURRENT ASSETS
Debtors 13,718 14,732
Cash at bank (8,861 ) (8,498 )
4,857 6,234
CREDITORS
Amounts falling due within one year 590,694 591,644
NET CURRENT LIABILITIES (585,837 ) (585,410 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,877

)

(18,301

)

CREDITORS
Amounts falling due after more than one
year

91,486

108,174
NET LIABILITIES (114,363 ) (126,475 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (114,463 ) (126,575 )
SHAREHOLDERS' FUNDS (114,363 ) (126,475 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Nedex Ltd (Registered number: 07292723)

Abridged Balance Sheet - continued
29 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2025 and were signed by:





Ms L Dexter - Director


Nedex Ltd (Registered number: 07292723)

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

1. STATUTORY INFORMATION

Nedex Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Nedex Ltd (Registered number: 07292723)

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

2. ACCOUNTING POLICIES - continued

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

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
At the balance sheet date, the company's liabilities exceed its assets. The company has received assurance from the directors that the company has adequate resources to continue in operational existence for twelve months from the date of approval of these financial statements. On this basis, the director considers it appropriate to prepare accounts on a going concern basis.

However, should financial support mentioned above not be forthcoming, the going concern basis used in preparing the company accounts may be invalid and adjustment would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 30 June 2023
and 29 June 2024 15,000
AMORTISATION
At 30 June 2023 9,000
Amortisation for year 750
At 29 June 2024 9,750
NET BOOK VALUE

At 29 June 2024 5,250
At 29 June 2023 6,000

Nedex Ltd (Registered number: 07292723)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 30 June 2023 158,561
Additions 5,904
At 29 June 2024 164,465
DEPRECIATION
At 30 June 2023 97,452
Charge for year 9,303
At 29 June 2024 106,755
NET BOOK VALUE
At 29 June 2024 57,710
At 29 June 2023 61,109

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 June 2023
and 29 June 2024 500,000
NET BOOK VALUE
At 29 June 2024 500,000
At 29 June 2023 500,000

The fair value of investment property is determined using the director's valuation technique, which considers market conditions, comparable sales, and other relevant factors.

7. SECURED DEBTS

The following secured debts are included within creditors:

29.6.24 29.6.23
£    £   
Lloyds Loan 106,492 119,380

Loans of £106,492 (FY23 - £119,380) are secured by a fixed and floating charge over the assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.6.24 29.6.23
value: £    £   
100 Ordinary shares £1 100 100

Nedex Ltd (Registered number: 07292723)

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

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 June 2024 and 29 June 2023:

29.6.24 29.6.23
£    £   
Ms L Dexter
Balance outstanding at start of year (559,664 ) (571,302 )
Amounts advanced (15,506 ) (5,600 )
Amounts repaid 18,877 17,238
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (556,293 ) (559,664 )

10. RELATED PARTY DISCLOSURES

The director loan of £556,293 is money advanced to the Company by the Director as at 29 June 2024. The loan is unsecured and interest free. The loan is repayable on demand.