REGISTERED NUMBER: 06018289 (England and Wales)

Unaudited Financial Statements For The Year Ended 31 December 2024

for

Nednil Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P J Davies

SECRETARY:

Ms V G Clark

REGISTERED OFFICE:

C/O Fuller Spurling

58 Guildford Street

Chertsey

KT16 9BE

REGISTERED NUMBER:

06018289 (England and Wales)

ACCOUNTANTS:

Fuller Spurling

Mill House

58 Guildford Street

Chertsey

Surrey

KT16 9BE

FIXED ASSETS

Tangible assets

4

1,420

1,461

Investments

5

-

-

1,420

1,461

CURRENT ASSETS

Stocks

10,600

10,600

Debtors

6

225,813

301,403

Cash at bank

45,723

68,186

282,136

380,189

CREDITORS

Amounts falling due within one year

7

811,647

854,219

NET CURRENT LIABILITIES

(529,511

)

(474,030

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(528,091

)

(472,569

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(528,092

)

(472,570

)

SHAREHOLDERS' FUNDS

(528,091

)

(472,569

)

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.

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 11 September 2025 and were signed by:

P J Davies - Director

1.	STATUTORY INFORMATION

Nednil 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Key source of estimation, uncertainty and judgement

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical, condition of the assets.

(ii) Stock provisioning

Stock consists of land owned by the company. The director assesses the value of the land at each period end date to ensure that it is recognised in the financial statements at the lower of cost and net realisable value. Assumptions as to the current state of the property market and other factors are considered when carrying out his assessment.

(iii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers multiple factors regarding their recoverability.

(iv) Impairment of fixed asset investments

The director makes an assessment of the recoverability of investments at each reporting date. The financial position and solvency of investee companies is considered when reaching his assessment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Investments in associates

Investments in associate undertakings are recognised at cost less any provision for impairment.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

2,780

Additions

672

At 31 December 2024

3,452

DEPRECIATION

At 1 January 2024

1,319

Charge for year

713

At 31 December 2024

2,032

NET BOOK VALUE

At 31 December 2024

1,420

At 31 December 2023

1,461

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

2,469,236

PROVISIONS

At 1 January 2024

and 31 December 2024

2,469,236

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

Interest in associates included within Fixed asset investments represents the company's holding of Ordinary Share Capital of Scarlets Regional Limited at a cost of £2,469,236 (2023: £2,469,236). In the director's view, the value of this investment is £nil (2023: £nil). The investment has been fully provided for with no further provision in the current year (2023: £392,598)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

225,813

301,403

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

4,223

2,283

Other creditors

807,424

851,936

811,647

854,219

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Retained

earnings

£

At 1 January 2024

(472,570

)

Deficit for the year

(55,522

)

At 31 December 2024

(528,092

)

10.	RELATED PARTY DISCLOSURES

The total amount owed to the director as at 31 December 2024 was £798,978 (2023: £844,965). During the year no interest was charged by the director on this loan.