| N.S.G. Exports Limited |
| Notes to the Accounts |
| for the year ended 31 August 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
over 50 years |
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Fixtures, fittings, tools and equipment |
10-25% straight line |
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Investment property |
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The investment property is included at fair value. Any surplus or deficit on revaluation is dealt with through the profit and loss account. No depreciation is provided in respect of investment property. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Jeremy Staines |
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Firm: |
Begbies |
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Date of audit report: |
21 May 2026 |
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| 3 |
Exceptional item |
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During the year, the Company identified a fraudulent transaction arising in the procurement process, which resulted in a loss of £186,233. The incident has been investigated and appropriate remedial actions and controls have been implemented. Given the amount and non-recurring nature of this item, it has been identified separately as an exceptional item to aid understanding of the Company’s financial performance. The loss is included within cost of sales in the profit and loss account. |
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| 4 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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| 5 |
Tangible fixed assets |
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Investment property |
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Fixtures and fittings |
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Total |
| £ |
£ |
£ |
| Fair value |
Cost |
|
Cost or fair value |
|
At 1 September 2024 |
864,721 |
|
12,240 |
|
876,961 |
|
Additions |
- |
|
18,922 |
|
18,922 |
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Disposals |
(864,721) |
|
(12,240) |
|
(876,961) |
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At 31 August 2025 |
- |
|
18,922 |
|
18,922 |
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Depreciation |
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At 1 September 2024 |
- |
|
12,240 |
|
12,240 |
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Charge for the year |
- |
|
315 |
|
315 |
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On disposals |
- |
|
(12,240) |
|
(12,240) |
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At 31 August 2025 |
- |
|
315 |
|
315 |
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Net book value |
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At 31 August 2025 |
- |
|
18,607 |
|
18,607 |
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At 31 August 2024 |
864,721 |
|
- |
|
864,721 |
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Investment property: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
- |
|
621,093 |
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The investment property was revalued in 2024 and the directors are of the opinion that its fair value was fairly reflected in the accounts. |
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| 6 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
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At 1 September 2024 |
56,835 |
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At 31 August 2025 |
56,835 |
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The company holds 20% or more of the share capital of the following companies: |
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| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
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|
Class |
% |
£ |
£ |
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NSG (West Indies) Limited (incorporated in Barbados) |
Ordinary |
100 |
|
6,500,300 |
|
1,519,585 |
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| 7 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
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Trade debtors |
1,383,637 |
|
1,926,702 |
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Other debtors |
391,412 |
|
346,419 |
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1,775,049 |
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2,273,121 |
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| 8 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Trade creditors |
957,916 |
|
1,592,872 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,363,402 |
|
938,964 |
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Taxation and social security costs |
288 |
|
279 |
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Other creditors |
1,370,646 |
|
792,838 |
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3,692,252 |
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3,324,953 |
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| 9 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
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At 1 September 2024 |
277,489 |
|
438,725 |
|
Loss on revaluation of land and buildings |
(277,489) |
|
(161,236) |
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Fair value losses, net of deferred tax |
- |
|
- |
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At 31 August 2025 |
- |
|
277,489 |
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| 10 |
Related party transactions |
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The company owed its subsidiary, NSG (West Indies) Limited £760,500 (2024: £833,093) at the year end. The balance owed to its parent company NSG Management & Technical Services Ltd was £602,903 (2024: (£105,870)) at the year end. |
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| 11 |
Controlling party |
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The company's parent company is NSG Management and Technical Services Ltd, a company incorporated in Barbados, which is under the control of the director, Mr S R Hobson. The parent company address is Office One, Williams 1, Williams Industry Park, Warrens, St Michael, Barbados. |
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| 12 |
Other information |
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N.S.G. Exports Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
10 Chislehurst Road |
|
Richmond |
|
London |
|
TW10 6PW |