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REGISTERED NUMBER: 07237916 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NORTECH PARTNERS LTD

NORTECH PARTNERS LTD (REGISTERED NUMBER: 07237916)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Balance sheet 1

Notes to the financial statements 3


NORTECH PARTNERS LTD (REGISTERED NUMBER: 07237916)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 57,000 67,000
Tangible assets 5 41,364 71,006
98,364 138,006

Current assets
Stocks 13,334 13,452
Debtors 6 20,818 27,839
Cash at bank 4,888 9,188
39,040 50,479
Creditors
Amounts falling due within one year 7 70,631 74,749
Net current liabilities (31,591 ) (24,270 )
Total assets less current liabilities 66,773 113,736

Creditors
Amounts falling due after more than one year 8 (33,232 ) (54,853 )

Provisions for liabilities 11 (4,425 ) (7,820 )
Net assets 29,116 51,063

Capital and reserves
Called up share capital 12 100 100
Retained earnings 29,016 50,963
Shareholders' funds 29,116 51,063

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NORTECH PARTNERS LTD (REGISTERED NUMBER: 07237916)

BALANCE SHEET - continued
31 DECEMBER 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 comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2025 and were signed by:





Dr D Norton - Director


NORTECH PARTNERS LTD (REGISTERED NUMBER: 07237916)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. Statutory information

Nortech Partners Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 07237916. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is Unit 5, Riverside Park, Wimborne, Dorset, BH21 1QU.

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.

Turnover
Turnover represents amounts receivable for the manufacture and distribution of jump ropes, net of VAT and trade discounts.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful life. This is deemed to be 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Website - 20% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 that have been enacted or substantively enacted by the balance sheet date.

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.

NORTECH PARTNERS LTD (REGISTERED NUMBER: 07237916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. Accounting policies - continued

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2024
and 31 December 2024 200,000
Amortisation
At 1 January 2024 133,000
Charge for year 10,000
At 31 December 2024 143,000
Net book value
At 31 December 2024 57,000
At 31 December 2023 67,000

5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Website Totals
£    £    £    £    £   
Cost
At 1 January 2024 7,856 11,368 86,890 - 106,114
Additions - - 43,980 5,000 48,980
Disposals - - (86,890 ) - (86,890 )
At 31 December 2024 7,856 11,368 43,980 5,000 68,204
Depreciation
At 1 January 2024 4,487 8,899 21,722 - 35,108
Charge for year 842 617 10,995 1,000 13,454
Eliminated on disposal - - (21,722 ) - (21,722 )
At 31 December 2024 5,329 9,516 10,995 1,000 26,840
Net book value
At 31 December 2024 2,527 1,852 32,985 4,000 41,364
At 31 December 2023 3,369 2,469 65,168 - 71,006

NORTECH PARTNERS LTD (REGISTERED NUMBER: 07237916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 January 2024 86,890
Additions 43,980
Disposals (86,890 )
At 31 December 2024 43,980
Depreciation
At 1 January 2024 21,722
Charge for year 10,995
Eliminated on disposal (21,722 )
At 31 December 2024 10,995
Net book value
At 31 December 2024 32,985
At 31 December 2023 65,168

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,680 9,758
Other debtors 1,320 -
Tax - 5,805
VAT 14,246 12,151
Prepayments 3,572 125
20,818 27,839

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts (see note 9) 9,490 11,280
Trade creditors 4,342 13,985
Tax 2,938 -
Social security and other taxes 1,443 679
Wages creditor - 550
Other creditors 182 170
Directors' current accounts 41,011 37,015
Accruals and deferred income 3,225 3,070
70,631 74,749

NORTECH PARTNERS LTD (REGISTERED NUMBER: 07237916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 4,000 8,000
Bank loans - 2-5 years - 4,000
Hire purchase contracts (see note 9) 29,232 42,853
33,232 54,853

9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,490 11,280
Between one and five years 29,232 42,853
38,722 54,133

Non-cancellable operating leases
2024 2023
£    £   
Within one year 11,000 8,250
Between one and five years 30,250 44,000
In more than five years - 2,750
41,250 55,000

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 38,722 54,134

Amounts owed under hire purchase are secured against the asset to which they relate.

11. Provisions for liabilities
2024 2023
£    £   
Deferred tax 4,425 7,820

Deferred
tax
£   
Balance at 1 January 2024 7,820
Credit to Income statement during year (3,395 )
Balance at 31 December 2024 4,425

NORTECH PARTNERS LTD (REGISTERED NUMBER: 07237916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

13. Ultimate controlling party

The company is controlled by the sole director, Dr D Norton, who owns 100% of the voting share capital.