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Registered number: 02461070
NORTELS LIMITED
Unaudited Financial Statements
For The Year Ended 30 November 2024
TaxAssist Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02461070
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 91,214 144,149
Investments 5 - 100,000
91,214 244,149
CURRENT ASSETS
Stocks 6 7,000 6,750
Debtors 7 27,264 205,012
Cash at bank and in hand 38,221 22,348
72,485 234,110
Creditors: Amounts Falling Due Within One Year 8 (128,099 ) (23,184 )
NET CURRENT ASSETS (LIABILITIES) (55,614 ) 210,926
TOTAL ASSETS LESS CURRENT LIABILITIES 35,600 455,075
Creditors: Amounts Falling Due After More Than One Year 9 - (417,160 )
NET ASSETS 35,600 37,915
CAPITAL AND RESERVES
Called up share capital 10 77,662 77,662
Profit and Loss Account (42,062 ) (39,747 )
SHAREHOLDERS' FUNDS 35,600 37,915
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ananda Paul
Director
28/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
NORTELS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02461070 . The registered office is Woodlands Bartley Road, Woodlands, Southampton, SO40 7GN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: )
1 -
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2023 291,804 40,056 385,728 44,861 762,449
Disposals - (16,899 ) - - (16,899 )
As at 30 November 2024 291,804 23,157 385,728 44,861 745,550
Depreciation
As at 1 December 2023 266,008 17,525 291,835 42,932 618,300
Provided during the period 6,449 5,632 23,473 482 36,036
As at 30 November 2024 272,457 23,157 315,308 43,414 654,336
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 November 2024 19,347 - 70,420 1,447 91,214
As at 1 December 2023 25,796 22,531 93,893 1,929 144,149
5. Investments
Listed
£
Cost or Valuation
As at 1 December 2023 100,000
Disposals (100,000 )
As at 30 November 2024 -
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 -
As at 1 December 2023 100,000
6. Stocks
2024 2023
£ £
Finished goods 7,000 6,750
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 27,264 205,012
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Other creditors 92,364 3,632
Taxation and social security 35,734 19,552
128,099 23,184
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - 417,160
Page 4
Page 5
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 77,662 77,662
Page 5