REGISTERED NUMBER: 02677280 (England and Wales)

NDSL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D N Barlow

M A Blazes

C B Grace

D W Keeports

P J Mcvickers

E R Weiler Jr

REGISTERED OFFICE:

Gloucester House

399 Silbury Boulevard

Milton Keynes

Buckinghamshire

MK9 2AH

REGISTERED NUMBER:

02677280 (England and Wales)

AUDITORS:

Cooper Parry Group Ltd

1st Floor, Abbey Square

Davidson House

The Forbury

Reading

RG1 3EU

FIXED ASSETS

Tangible assets

4

26,740

38,793

Investments

5

85

154

26,825

38,947

CURRENT ASSETS

Stocks

171,838

206,622

Debtors

6

795,737

384,081

Cash at bank

3,559,573

6,233,588

4,527,148

6,824,291

CREDITORS

Amounts falling due within one year

7

1,644,184

4,123,400

NET CURRENT ASSETS

2,882,964

2,700,891

TOTAL ASSETS LESS CURRENT LIABILITIES

2,909,789

2,739,838

PROVISIONS FOR LIABILITIES

6,618

9,698

NET ASSETS

2,903,171

2,730,140

CAPITAL AND RESERVES

Called up share capital

100,000

2,827,350

Retained earnings

2,803,171

(97,210

)

2,903,171

2,730,140

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 17 December 2025 and were signed on its behalf by:

P J Mcvickers - Director

1.	STATUTORY INFORMATION

NDSL 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.

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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no judgements that are deemed to have had a significant effect on amounts recognised in the financial statements.

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.

Plant and machinery etc

-

25% on cost

INVESTMENTS IN SUBSIDIARIES

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any

accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit

or loss.

STOCKS

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

56,432

Additions

416

At 31 December 2024

56,848

DEPRECIATION

At 1 January 2024

17,639

Charge for year

12,469

At 31 December 2024

30,108

NET BOOK VALUE

At 31 December 2024

26,740

At 31 December 2023

38,793

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2024

154

Disposals

(69

)

At 31 December 2024

85

NET BOOK VALUE

At 31 December 2024

85

At 31 December 2023

154

As at the 31st December 2024 the company owned 100% of the issued share capital of the companies listed below:

Company

Currency

2024

2023

Aggregate capital and reserves

Cellwatch Ltd (UK-dormant)

GBP

2

2

NDSL Hong Kong Ltd

HKD

(327,846

)

(301,161

)

Newport Data Systems Ltd (UK-dormant)

GBP

1

1

On 19 December 2024 the company sold 100% of their interest in NDSL Inc. for £69 in consideration as part of a wider group restructure.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

330,586

367,869

Other debtors

465,151

16,212

795,737

384,081

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

9,366

23,962

Amounts owed to group undertakings

861,585

3,984,724

Taxation and social security

80,869

46,912

Other creditors

692,364

67,802

1,644,184

4,123,400

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

3,525

14,535

Between one and five years

-

3,525

3,525

18,060

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

George Style (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Ltd

10.	RELATED PARTY DISCLOSURES

The directors consider that the ultimate parent undertaking and controlling related party of the company at 31 December 2024 was MRC Springfield Acquisition LLC, a company incorporated in the United States of America..

The largest and smallest group of undertakings for which group accounts have been drawn up is

that headed by NDSL Group Limited which is registered in England and Wales (registered office: Gloucester House, 399 Silbury Boulevard, Milton Keynes, Buckinghamshire, England, MK9 2AH).

As a wholly owned subsidiary of NDSL Group Limited, the company is exempt from the

requirement to disclose transactions with other members of the group headed by NDSL Group

Limited as NDSL Group Limited prepares consolidated financial statements which are publicly

available from Companies House.