5 10 June 2025 false false false false false false false false false false true false false true false true true No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 02198020 2024-01-01 2024-12-31 02198020 2024-12-31 02198020 2023-12-31 02198020 2023-01-01 2023-12-31 02198020 2023-12-31 02198020 2022-12-31 02198020 bus:Director2 2024-01-01 2024-12-31 02198020 core:PlantMachinery 2023-12-31 02198020 core:FurnitureFittings 2023-12-31 02198020 core:PlantMachinery 2024-12-31 02198020 core:FurnitureFittings 2024-12-31 02198020 core:WithinOneYear 2024-12-31 02198020 core:WithinOneYear 2023-12-31 02198020 core:ShareCapital 2024-12-31 02198020 core:ShareCapital 2023-12-31 02198020 core:SharePremium 2024-12-31 02198020 core:SharePremium 2023-12-31 02198020 core:RetainedEarningsAccumulatedLosses 2024-12-31 02198020 core:RetainedEarningsAccumulatedLosses 2023-12-31 02198020 core:BetweenOneFiveYears 2024-12-31 02198020 core:BetweenOneFiveYears 2023-12-31 02198020 core:PlantMachinery 2024-01-01 2024-12-31 02198020 core:FurnitureFittings 2024-01-01 2024-12-31 02198020 core:PlantMachinery 2023-12-31 02198020 core:FurnitureFittings 2023-12-31 02198020 bus:Director1 2024-01-01 2024-12-31 02198020 bus:SmallEntities 2024-01-01 2024-12-31 02198020 bus:Audited 2024-01-01 2024-12-31 02198020 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02198020 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02198020 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 02198020
NUM (UK) LIMITED
FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
NUM (UK) LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
125
746
Current assets
Stocks
106,506
78,165
Debtors
6
30,768
25,291
Cash at bank and in hand
164,733
179,396
---------
---------
302,007
282,852
Creditors: amounts falling due within one year
7
( 71,642)
( 50,902)
---------
---------
Net current assets
230,365
231,950
---------
---------
Total assets less current liabilities
230,490
232,696
---------
---------
Net assets
230,490
232,696
---------
---------
Capital and reserves
Called up share capital
655,000
655,000
Share premium account
5,466
5,466
Profit and loss account
( 429,976)
( 427,770)
---------
---------
Shareholder funds
230,490
232,696
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 4 June 2025 , and are signed on behalf of the board by:
S D Moore
Director
Company registration number: 02198020
NUM (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3, Fairfield Court, Seven Stars Industrial Estate, Coventry, CV3 4LJ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Going concern
The company has made operating losses for the last two years however the Directors continue to have the support of its parent undertaking and maintains a strong balance sheet. Management are also forecasting a profit for the next accounting period. For these reasons the Directors continue to adopt the going concern basis for the preparation of the financial statements.
Judgements and key sources of estimation uncertainty
Management makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The only instance of an estimate or assumption that has a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year is stock provisioning in relation to the numerical control equipment. As a result of changing consumer demands it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials. The total stock provision at 31 December 2024 is £25,134 (2023 - £22,627)
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
over two to five years on cost
Fixtures and fittings
-
over two to five years on cost
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
24,403
3,978
28,381
--------
-------
--------
Depreciation
At 1 January 2024
24,237
3,398
27,635
Charge for the year
125
496
621
--------
-------
--------
At 31 December 2024
24,362
3,894
28,256
--------
-------
--------
Carrying amount
At 31 December 2024
41
84
125
--------
-------
--------
At 31 December 2023
166
580
746
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
23,462
17,865
Other debtors
7,306
7,426
--------
--------
30,768
25,291
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,525
2,285
Amounts owed to group undertakings
19,722
16,536
Social security and other taxes
27,202
15,464
Pension liability
1,226
2,064
Other creditors
20,967
14,553
--------
--------
71,642
50,902
--------
--------
8. Deferred tax
The company has accumulated trading losses totalling £581,488 (2023 - £580,068) which are eligible to be utilised against future trading profits. Due to the uncertainty over the timings of the relief no deferred tax asset has been recognised in respect of trading losses.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
23,430
29,090
Later than 1 year and not later than 5 years
35,667
59,097
--------
--------
59,097
88,187
--------
--------
10. Summary audit opinion
The auditor's report dated 10 June 2025 was unqualified .
The senior statutory auditor was Mark Bradshaw , for and on behalf of Streets Audit LLP .
11. Related party transactions
The company has taken advantage of exemption, under the terms of FRS 102, not to disclose related party transactions with other wholly owned subsidiaries within the group. No other transactions are required to be disclosed under FRS 102 Section 1A.
12. Controlling party
The company is a wholly owned subsidiary undertaking of NUM Industry Alliance AG , a company incorporated in Switzerland. The smallest group in which the results of NUM (UK) Limited are consolidated is that headed by NUM Industry Alliance AG. The consolidated accounts of this group are available to the public and may be obtained from NUM Industry Alliance AG, Battenhusstrasse 16, 9062 Lustmuhle, Switzerland.