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REGISTERED NUMBER: 06317682 (England and Wales)








REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

NED MANAGEMENT LIMITED

NED MANAGEMENT LIMITED (REGISTERED NUMBER: 06317682)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

Company Information 1

Report of the Director 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


NED MANAGEMENT LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTOR: Mr C Onuoha



REGISTERED OFFICE: 61 Mainway
Alkrington
Middleton
Manchester
M24 1LL



REGISTERED NUMBER: 06317682 (England and Wales)



ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD



BANKERS: HSBC Bank plc
4 Hardman Square
Spinningfields
Manchester
M3 3EB

NED MANAGEMENT LIMITED (REGISTERED NUMBER: 06317682)

REPORT OF THE DIRECTOR
for the Year Ended 31 July 2024

The director presents his report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of image rights management and income from property rentals.

DIRECTOR
Mr C Onuoha held office during the whole of the period from 1 August 2023 to the date of this report.

His beneficial interests in the shares of the company, according to the register of directors' interests, were as follows:

31.7.24 1.8.23
Ordinary shares of £1 each 1 1

Ordinary A shares of £1 each 1 1

He did not hold any beneficial interests in the Ordinary B shares of £1 each.

He did not hold any non-beneficial interests in any of the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr C Onuoha - Director


30 January 2025

NED MANAGEMENT LIMITED (REGISTERED NUMBER: 06317682)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 256 341
Investment property 5 1,236,500 1,236,500
1,236,756 1,236,841

CURRENT ASSETS
Debtors 6 10,336 12,750
Cash at bank and in hand 103,555 217,110
113,891 229,860
CREDITORS
Amounts falling due within one year 7 (629,561 ) (673,778 )
NET CURRENT LIABILITIES (515,670 ) (443,918 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,086

792,923

PROVISIONS FOR LIABILITIES (117,294 ) (117,311 )
NET ASSETS 603,792 675,612

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 8 353,166 353,166
Retained earnings 250,622 322,442
SHAREHOLDERS' FUNDS 603,792 675,612

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NED MANAGEMENT LIMITED (REGISTERED NUMBER: 06317682)

BALANCE SHEET - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





Mr C Onuoha - Director


NED MANAGEMENT LIMITED (REGISTERED NUMBER: 06317682)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

NED Management 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 as modified by the revaluation of certain assets.

Turnover
The turnover and profit before taxation are attributable to the company's principal activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
The investment property has been revalued to reflect current fair value at year end.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 4 (2023 - 4 ) .

NED MANAGEMENT LIMITED (REGISTERED NUMBER: 06317682)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023
and 31 July 2024 9,919
DEPRECIATION
At 1 August 2023 9,578
Charge for year 85
At 31 July 2024 9,663
NET BOOK VALUE
At 31 July 2024 256
At 31 July 2023 341

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 1,236,500
NET BOOK VALUE
At 31 July 2024 1,236,500
At 31 July 2023 1,236,500

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2023 (45,403 )
Valuation in 2022 37,000
Valuation in 2021 60,000
Valuation in 2020 103,000
Valuation in 2019 134,000
Valuation in 2018 3,000
Valuation in 2017 120,000
Valuation in 2016 48,000
Valuation in 2015 10,924
Cost 765,979
1,236,500

If Investment property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 765,979 765,979

Investment property was valued on an open market basis on 31 July 2023 by Ash Residential Limited .

NED MANAGEMENT LIMITED (REGISTERED NUMBER: 06317682)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 3,019 7,131
Other debtors 7,317 5,619
10,336 12,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 783 783
Taxation and social security 855 5,728
Other creditors 627,923 667,267
629,561 673,778

8. RESERVES
Fair
value
reserve
£   
At 1 August 2023
and 31 July 2024 353,166

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Onuoha.