Registration number:
for the Year Ended
N.F.S.P. Trading Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
N.F.S.P. Trading Limited
Company Information
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Directors |
Mr Calum Brian Greenhow Mr Joseph David Timothy Boothman |
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Registered office |
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Auditors |
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N.F.S.P. Trading Limited
(Registration number: 03154458)
Balance Sheet as at 30 September 2024
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2023 |
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Fixed assets |
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Intangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Profit and loss account |
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Members' funds |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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N.F.S.P. Trading Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis.
N.F.S.P. Trading Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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2 |
Accounting policies (continued) |
Audit report
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Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Internally generated software |
33% - straight line |
N.F.S.P. Trading Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Profit before tax |
Loss is arrived at after charging the following:
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2024 |
2023 |
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Audit of the financial statements |
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N.F.S.P. Trading Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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Intangible assets |
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Internally generated software development costs |
Total |
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Cost or valuation |
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At 1 October 2023 |
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At 30 September 2024 |
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Amortisation |
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At 1 October 2023 |
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Amortisation charge |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Debtors |
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Current |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by related parties |
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- |
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Prepayments |
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Other debtors |
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N.F.S.P. Trading Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Related party transactions |
Summary of transactions with parent
N.F.S.P. Trading Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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8 |
Related party transactions (continued) |
Expenditure with and payables to related parties
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2024 |
Parent |
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Rendering of services |
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2023 |
Parent |
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Rendering of services |
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Loans to related parties
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2024 |
Parent |
Total |
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Advanced |
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At end of period |
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Loans from related parties
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2024 |
Parent |
Total |
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At start of period |
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Advanced |
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Repaid |
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At end of period |
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2023 |
Parent |
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Advanced |
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At end of period |
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Terms of loans from related parties
N.F.S.P. Trading Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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8 |
Related party transactions (continued) |
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Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Evelyn House, 22 Windlesham Gardens, Shoreham by Sea, West Sussex, BN43 5AZ