| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2024 |
| for |
| NX Secure Limited |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| The principal place of business is Unit 2, Orion Close, Mustang Park, Daventry, NN11 8NW. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 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 |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 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: | £ | £ |
| 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 |