REGISTERED NUMBER: 06800621 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NEREIDES DISTRIBUTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Amaddeo

V Amaddeo

B Amaddeo

SECRETARY:

B Amaddeo

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

06800621 (England and Wales)

ACCOUNTANTS:

Orcom Civvals Limited

Accountants

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Tangible assets

4

69,789

90,141

CURRENT ASSETS

Stocks

140,826

101,573

Debtors

5

183,617

247,254

Cash at bank and in hand

131,924

48,193

456,367

397,020

CREDITORS

Amounts falling due within one year

6

(375,831

)

(455,709

)

NET CURRENT ASSETS/(LIABILITIES)

80,536

(58,689

)

TOTAL ASSETS LESS CURRENT LIABILITIES

150,325

31,452

CREDITORS

Amounts falling due after more than one year

7

(5,832

)

(15,832

)

NET ASSETS

144,493

15,620

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

144,393

15,520

SHAREHOLDERS' FUNDS

144,493

15,620

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 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:

B Amaddeo - Director

1.	STATUTORY INFORMATION

Nereides Distribution 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Short leasehold

-

Over the life of the lease

Improvements to property

-

25% on reducing balance

Fixtures, fittings and equipment

-

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 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 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.

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.

Going concern

Based on the continued support of the directors, they consider that it is appropriate to prepare the financial statement on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Improvements

fittings

Short

to

and

Computer

leasehold

property

equipment

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

52,526

312,182

94,120

17,790

476,618

Additions

-

-

7,248

-

7,248

At 31 December 2024

52,526

312,182

101,368

17,790

483,866

DEPRECIATION

At 1 January 2024

36,861

253,822

79,629

16,165

386,477

Charge for year

7,167

14,590

5,435

408

27,600

At 31 December 2024

44,028

268,412

85,064

16,573

414,077

NET BOOK VALUE

At 31 December 2024

8,498

43,770

16,304

1,217

69,789

At 31 December 2023

15,665

58,360

14,491

1,625

90,141

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

11,889

23,944

Other debtors

54,355

54,355

Tax

55,204

55,204

Prepayments

62,169

113,751

183,617

247,254

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

46,379

88,489

Tax

26,594

-

Social security and other taxes

7,255

6,095

VAT

64,995

31,095

Inter Company balance - France branch

166,923

294,235

Accrued expenses

53,685

25,795

375,831

455,709

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,832

15,832

The company has taken out a Bounce Back loan for a term of 6 years at a rate of 2.5% commencing from July 2020.

There is automatically one year with no capital payments or interest and the Business Interruption Payment element relating to this was £1,250.

Monthly repayments start from year 2 over the remaining term of the loan.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

At year end, balance owed to parent company, Nereides Distribution SARL is £166,923

10.	POST BALANCE SHEET EVENTS

There were no material events subsequent to 31 December 2023 and up until the authorisation of the financial statements for issue, that have not been disclosed elsewhere in the financial statements.

11.	ULTIMATE CONTROLLING PARTY

Nereides Distribution SARL which is incorporated in France, controls the company by virtue of its 100% shareholding in the company.