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Company No: 05748855 (England and Wales)

# NFSE LIMITED

### Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

NFSE LIMITED

## Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

NFSE LIMITED

## COMPANY INFORMATION

For the financial year ended 30 September 2024
NFSE LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024

DIRECTORS | Andrew William Rodger (Appointed 11 December 2024)
| Michelle Louise Rodger (Appointed 21 September 2024)

REGISTERED OFFICE | Clip Bush Farm
| Field Lane
| Hempnall
| Norwich
| NR15 2PA
| United Kingdom

COMPANY NUMBER | 05748855 (England and Wales)

CHARTERED ACCOUNTANTS | Gascoynes
| Gascoyne House
| Moseleys Farm Business Centre
| Fornham All Saints
| Bury St Edmunds
| Suffolk
| IP28 6JY

NFSE LIMITED

## BALANCE SHEET

As at 30 September 2024
NFSE LIMITED

## BALANCE SHEET (continued)

As at 30 September 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 493,002 |  | 500,567
|  | 493,002 |  | 500,567
Current assets |  |  |  |
Stocks |  | 5,000 |  | 5,000
Debtors | 4 | 56,166 |  | 28,358
|  | 61,166 |  | 33,358
Creditors: amounts falling due within one year | 5 | ( 61,713) |  | ( 36,075)
Net current liabilities |  | (547) |  | (2,717)
Total assets less current liabilities |  | 492,455 |  | 497,850
Net assets |  | 492,455 |  | 497,850
Capital and reserves |  |  |  |
Called-up share capital | 6 | 840 |  | 840
Revaluation reserve |  | 605,000 |  | 605,000
Profit and loss account |  | ( 113,385 ) |  | ( 107,990 )
Total shareholder's funds |  | 492,455 |  | 497,850

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of NFSE Limited (registered number: 05748855) were approved and authorised for issue by the Board of Directors on 04 December 2025. They were signed on its behalf by:

Andrew William Rodger Director |

NFSE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
NFSE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

NFSE Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Clip Bush Farm, Field Lane, Hempnall, Norwich, NR15 2PA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery | 20 % reducing balance
Vehicles | 20 % reducing balance
Computer equipment | 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 October 2023 | 455,871 |  | 164,351 |  | 24,235 |  | 19,497 |  | 663,954
Additions | 0 |  | 1,422 |  | 0 |  | 0 |  | 1,422
At 30 September 2024 | 455,871 |  | 165,773 |  | 24,235 |  | 19,497 |  | 665,376
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 October 2023 | 0 |  | 131,542 |  | 15,661 |  | 16,184 |  | 163,387
Charge for the financial year | 0 |  | 6,776 |  | 1,714 |  | 497 |  | 8,987
At 30 September 2024 | 0 |  | 138,318 |  | 17,375 |  | 16,681 |  | 172,374
Net book value |  |  |  |  |  |  |  |  |
At 30 September 2024 | 455,871 |  | 27,455 |  | 6,860 |  | 2,816 |  | 493,002
At 30 September 2023 | 455,871 |  | 32,809 |  | 8,574 |  | 3,313 |  | 500,567

#### 4. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 5,386 |  | 21,349
Deferred tax asset | 14,472 |  | 7,009
Other debtors | 36,308 |  | 0
| 56,166 |  | 28,358

#### 5. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank overdrafts | 16,423 |  | 17,536
Trade creditors | 0 |  | 2,117
Taxation and social security | 3,163 |  | ( 18,962)
Other creditors | 42,127 |  | 35,384
| 61,713 |  | 36,075

#### 6. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
840 Ordinary shares of £ 1.00 each | 840 |  | 840