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REGISTERED NUMBER: 07638297 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

NX Logistics Ltd

NX Logistics Ltd (Registered number: 07638297)






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 8


NX Logistics Ltd

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





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





REGISTERED NUMBER: 07638297 (England and Wales)





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

NX Logistics Ltd (Registered number: 07638297)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 72,445 78,353

CURRENT ASSETS
Stocks 4,744 6,642
Debtors 5 3,259,236 2,953,958
Cash at bank 53,707 32,960
3,317,687 2,993,560
CREDITORS
Amounts falling due within one year 6 3,596,398 3,482,856
NET CURRENT LIABILITIES (278,711 ) (489,296 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(206,266

)

(410,943

)

PROVISIONS FOR LIABILITIES 10 11,848 12,926
NET LIABILITIES (218,114 ) (423,869 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (218,214 ) (423,969 )
SHAREHOLDERS' FUNDS (218,114 ) (423,869 )

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 Logistics Ltd (Registered number: 07638297)

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 Logistics Ltd (Registered number: 07638297)

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

1. STATUTORY INFORMATION

NX Logistics Limited is a private company, limited by shares, incorporated and domiciled in England. 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

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. Income is recognised on the completion of a delivery on behalf of the customer.

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
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


NX Logistics Ltd (Registered number: 07638297)

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

2. ACCOUNTING POLICIES - continued
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.

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 47 (2023 - 43 ) .

NX Logistics Ltd (Registered number: 07638297)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 23,187 135,691 6,248 56,124 221,250
Additions 5,820 - - 9,627 15,447
At 31 October 2024 29,007 135,691 6,248 65,751 236,697
DEPRECIATION
At 1 November 2023 10,249 106,229 2,733 23,686 142,897
Charge for year 3,899 7,365 879 9,212 21,355
At 31 October 2024 14,148 113,594 3,612 32,898 164,252
NET BOOK VALUE
At 31 October 2024 14,859 22,097 2,636 32,853 72,445
At 31 October 2023 12,938 29,462 3,515 32,438 78,353

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,087,773 1,098,280
Amounts owed by group undertakings 1,839,298 1,570,826
Other debtors 332,165 284,852
3,259,236 2,953,958

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 73,333
Trade creditors 656,879 969,830
Amounts owed to group undertakings 1,961,897 1,655,675
Taxation and social security 46,565 49,130
Other creditors 931,057 734,888
3,596,398 3,482,856

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 453,047 717,434
Between one and five years 1,132 142,741
454,179 860,175

The operating lease for Mustang Park, Daventry ended during the year and a new agreement hadn't been agreed by the signing date of the financial statements.

NX Logistics Ltd (Registered number: 07638297)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 73,333
Invoice discounting facilities 824,654 674,100
824,654 747,433

At the date of approval of the financial statements there were two charges registered at Companies house.

The first charge dated, 23rd August, 2021, contains negative pledges, with fixed and floating charges over all the property or undertaking of the company in favour of Hsbc UK Bank PLC.

The second charge dated, 8th February, 2022, contains negative pledges, with fixed and floating charges over all property or undertaking of the company in favour of Hsbc Invoice Finance (UK) Limited.

9. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity, market and interest rate 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. Borrowing facilities are utilised where required to aid the companies liquidity.

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.

Interest rate risk
The company has minor exposure to interest rate risk through the impact of rate changes in interest bearing borrowing. Active management of the company's exposure to interest rate fluctuations is undertaken.

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

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 11,848 12,926

NX Logistics Ltd (Registered number: 07638297)

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

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2023 12,926
Provided during year (1,078 )
Balance at 31 October 2024 11,848

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary £1 80 80
20 Ordinary B £1 20 20
100 100

12. 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 - £1,839,298
Due to relates parties - £1,961,897

No interest is accruing and all amounts are repayable on demand.

13. 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.