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REGISTERED NUMBER: 03695705 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Nagels (UK) Ltd

Nagels (UK) Ltd (Registered number: 03695705)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nagels (UK) Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: T Nagels
L J Minter





SECRETARY: L J Minter





REGISTERED OFFICE: 4 Milestone Business Park
Oslo Road
Hull
East Yorkshire
HU7 0YN





REGISTERED NUMBER: 03695705 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
Hull
HU1 2LD

Nagels (UK) Ltd (Registered number: 03695705)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 441,640 446,967

CURRENT ASSETS
Stocks 409,055 463,420
Debtors 5 261,197 254,257
Cash at bank and in hand 308,728 140,554
978,980 858,231
CREDITORS
Amounts falling due within one year 6 690,871 634,517
NET CURRENT ASSETS 288,109 223,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

729,749

670,681

PROVISIONS FOR LIABILITIES 2,919 4,870
NET ASSETS 726,830 665,811

CAPITAL AND RESERVES
Called up share capital 7 90,000 90,000
Capital redemption reserve 8 10,000 10,000
Retained earnings 8 626,830 565,811
SHAREHOLDERS' FUNDS 726,830 665,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Nagels (UK) Ltd (Registered number: 03695705)

Balance Sheet - continued
31 December 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 15 April 2025 and were signed on its behalf by:




T Nagels - Director



L J Minter - Director


Nagels (UK) Ltd (Registered number: 03695705)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Nagels (UK) 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.

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

Turnover from the sale of goods is recognised when goods are delivered and the legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on cost
Fixture and fittings - 25% on cost
Computer equipment - 25% on cost
License - 10% on cost

Freehold Property
No depreciation is provided on the freehold property. It is the company's policy to maintain freehold property in such a condition that the value of the property taken as a whole is not impaired by the passage of time. Such maintenance expenditure is charged against profits in the year in which it arises . Any element of depreciation would in the opinion of the directors be immaterial and no provision has been made.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which compromise direct production cost, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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.


Nagels (UK) Ltd (Registered number: 03695705)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 424,752 5,701 46,400 70,129 546,982
Additions - - - 674 674
At 31 December 2024 424,752 5,701 46,400 70,803 547,656
DEPRECIATION
At 1 January 2024 - 4,742 41,886 53,387 100,015
Charge for year - 326 1,563 4,112 6,001
At 31 December 2024 - 5,068 43,449 57,499 106,016
NET BOOK VALUE
At 31 December 2024 424,752 633 2,951 13,304 441,640
At 31 December 2023 424,752 959 4,514 16,742 446,967

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 244,259 244,048
Other debtors 1,500 -
Prepayments 15,438 10,209
261,197 254,257

Nagels (UK) Ltd (Registered number: 03695705)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 179,236 138,823
Tax 107,184 82,940
Social security and other taxes 24,493 25,127
VAT 88,216 92,438
Other creditors 17,364 14,938
Accrued expenses 274,378 280,251
690,871 634,517

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90,000 Ordinary £1 90,000 90,000

8. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2024 565,811 10,000 575,811
Profit for the year 311,019 - 311,019
Dividends (250,000 ) - (250,000 )
At 31 December 2024 626,830 10,000 636,830

9. PENSION COMMITMENTS

The company contributes to employees' private defined contributions pension schemes. The charge for the year was £39,244 (2023 - £33,807). The amount outstanding at the year was £4,776 (2023 - £1,260).

10. RELATED PARTY DISCLOSURES

During the year the company purchased goods and services totalling £1,571,095 (2023 - £1,545,990) from Nagels Druck Kempen GMBH a company incorporated in Germany, in which T Nagels, a director of Nagels (UK) Ltd is also a director.The balance owed to Nagels Druck Kempen GMBH at 31 December 2024 is £152,776 (2023 - £94,587).

The company also recharged goods and services totalling £112,977 (2023 - £104,101) that it had paid on behalf of Nagels Druck Kempen GMBH.

Also during the year, the company recharged goods and services totalling £1,715 (2023 - £1,715) that it had paid on behalf of Nagels North America. A company incorporated in the United States of America, in which T Nagels, a director of Nagels (UK) Ltd, is a shareholder.

During the year dividends of £250,000 (2023 - £150,000) were paid to the directors.


11. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.