Registered number
06308029
Nemesis UK Performance Ltd
Filleted Accounts
30 September 2024
Nemesis UK Performance Ltd
Registered number: 06308029
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 3,360 -
Tangible assets 4 7,519 10,526
10,879 10,526
Current assets
Stocks 240,374 302,039
Debtors 5 22,387 22,062
Cash at bank and in hand 2,342 1,906
265,103 326,007
Creditors: amounts falling due within one year 6 (157,476) (163,959)
Net current assets 107,627 162,048
Total assets less current liabilities 118,506 172,574
Provisions for liabilities - (1,600)
Net assets 118,506 170,974
Capital and reserves
Called up share capital 1 1
Profit and loss account 118,505 170,973
Shareholders' funds 118,506 170,974
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G M Tomlinson
Director
Approved by the board on 21 May 2025
Nemesis UK Performance Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Website costs are charged as expenses when they are incurred in relation to feasibility studies during the planning phase of a website, or ongoing costs of maintenance during the operating phase. Costs incurred in building or enhancing a website, to the extent that they represent probable future economic benefits that can be reliably measured, are capitalised.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Grants
Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Website costs:
Cost
Additions 4,200
At 30 September 2024 4,200
Amortisation
Provided during the year 840
At 30 September 2024 840
Net book value
At 30 September 2024 3,360
Website costs are written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 28,454
Additions 145
At 30 September 2024 28,599
Depreciation
At 1 October 2023 17,928
Charge for the year 3,152
At 30 September 2024 21,080
Net book value
At 30 September 2024 7,519
At 30 September 2023 10,526
5 Debtors 2024 2023
£ £
Trade debtors 14,487 19,705
Other debtors 7,900 2,357
22,387 22,062
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,761 -
Trade creditors 51,472 49,794
Taxation and social security costs 5,942 12,247
Other creditors 96,301 101,918
157,476 163,959
7 Guarantees made by the company on behalf of directors
Main terms Maximum Amount paid
liability and incurred
£ £
G M Tomlinson
The company operates from premises owned by the director and has given guarantees to his bank in respect of a mortgage on the property by way of a debenture. 104,485 -
104,485 -
8 Other information
Nemesis UK Performance Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit F Asquith Court
Saxon Business Park, Hanbury Road
Bromsgove
Worcs
B60 4FF
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