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REGISTERED NUMBER: 09520909 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

NX Secure Limited

NX Secure Limited (Registered number: 09520909)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


NX Secure Limited

Company Information
for the year ended 31 October 2024







DIRECTORS: Mr M T Powell
Mr N M Powell
Mr R T Powell
Mrs J C Powell





SECRETARY: Mr R T Powell





REGISTERED OFFICE: Pacioli House
9 Brookfield, Duncan Close
Moulton Park
Northampton
Northamptonshire
NN3 6WL





REGISTERED NUMBER: 09520909 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

NX Secure Limited (Registered number: 09520909)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 52,452 60,525

CURRENT ASSETS
Stocks 44,692 31,994
Debtors 5 2,027,718 1,906,122
Cash at bank and in hand 1,351 42,883
2,073,761 1,980,999
CREDITORS
Amounts falling due within one year 6 2,187,633 1,953,257
NET CURRENT (LIABILITIES)/ASSETS (113,872 ) 27,742
TOTAL ASSETS LESS CURRENT
LIABILITIES

(61,420

)

88,267

PROVISIONS FOR LIABILITIES 13,113 15,131
NET (LIABILITIES)/ASSETS (74,533 ) 73,136

CAPITAL AND RESERVES
Called up share capital 9 3 3
Retained earnings (74,536 ) 73,133
SHAREHOLDERS' FUNDS (74,533 ) 73,136

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

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

NX Secure Limited (Registered number: 09520909)

Balance Sheet - continued
31 October 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 Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:





Mr R T Powell - Director


NX Secure Limited (Registered number: 09520909)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

NX Secure 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.

The principal place of business is Unit 2, Orion Close, Mustang Park, Daventry, NN11 8NW.

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.

The financial statements are presented in Sterling (£) and cover the period to the 31st October each year.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. The work is invoiced on the provision of storage within the warehouse operated by the company.

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 reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

NX Secure Limited (Registered number: 09520909)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023 122,664 28,898 7,953 159,515
Additions 4,550 3,080 - 7,630
At 31 October 2024 127,214 31,978 7,953 167,145
DEPRECIATION
At 1 November 2023 76,137 20,758 2,095 98,990
Charge for year 12,012 2,227 1,464 15,703
At 31 October 2024 88,149 22,985 3,559 114,693
NET BOOK VALUE
At 31 October 2024 39,065 8,993 4,394 52,452
At 31 October 2023 46,527 8,140 5,858 60,525

NX Secure Limited (Registered number: 09520909)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 324,794 236,280
Amounts owed by group undertakings 1,502,780 1,542,071
Other debtors 200,144 127,771
2,027,718 1,906,122

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 108,258 111,735
Amounts owed to group undertakings 1,839,298 1,570,826
Taxation and social security 8,052 24,958
Other creditors 232,025 245,738
2,187,633 1,953,257

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
HSBC Invoice Finance 117,725 34,003

At the balance sheet date the company held one charge, containing negative pledges, with fixed and floating charges over the property and undertaking of the company in favour of HSBC Invoice Finance (UK) Limited.

8. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and market risks, These risks are limited by the company's financial management policies and practices described below.

Credit risk
The company has exposure to credit risks. The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities.

Market risk
There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the markets.

The company holds no derivative financial instruments at the year end.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary £1 3 3

NX Secure Limited (Registered number: 09520909)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

10. RELATED PARTY DISCLOSURES

During the year the company traded with fellow group companies, the balances outstanding at the year end amounted to:

Due from related parties - £1,502,780
Due to related parties - £1,839,298

There in no interest accruing an all amount are repayable within one year.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Theantis (Holdings) Limited.

The principal place of business of Theantis (Holdings) Ltd is Unit 2, Orion Close, Mustang Park, Daventry, NN11 8NW