NEMESIS LIMITED - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03432346 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

NEMESIS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Chance

M Cooper

S Bruce

SECRETARY:

Mrs N G Chance

REGISTERED OFFICE:

11 Hornhill Road

Nunnery Park

Worcester

Worcestershire

WR4 0SX

REGISTERED NUMBER:

03432346 (England and Wales)

ACCOUNTANTS:

Clifton-Crick Sharp & Co. Ltd

Chartered Accountants

40 High Street

Pershore

Worcestershire

WR10 1DP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

295,947

298,987

295,947

298,987

CURRENT ASSETS

Stocks

793,433

234,211

Debtors

2,261,227

2,340,890

Cash at bank and in hand

66,811

182,653

3,121,471

2,757,754

CREDITORS

Amounts falling due within one year

1,412,753

1,150,141

NET CURRENT ASSETS

1,708,718

1,607,613

TOTAL ASSETS LESS CURRENT LIABILITIES

2,004,665

1,906,600

CREDITORS

Amounts falling due after more than one year

(99,298

)

(69,207

)

PROVISIONS FOR LIABILITIES

(49,270

)

(46,847

)

NET ASSETS

1,856,097

1,790,546

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,856,095

1,790,544

SHAREHOLDERS' FUNDS

1,856,097

1,790,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 September 2023 and were signed on its behalf by:

C Chance - Director

1.	STATUTORY INFORMATION

NEMESIS 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.

Changes in accounting policies

As part of group rationalisation, the freehold property was transferred to Sisemen Ltd. The decision was taken to reverse the depreciation previously applied and the transfer was completed at cost price.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

50% on reducing balance and 20% on cost

Stocks

Stocks are valued at the lower of costs (calculated on a FIFO basis) and net realisable value, after making due allowance for obsolete and slow moving items. The directors discount non-current branded stock to 20% - 50% of cost, and dated stock which is past its expiry date to nil.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 25 ).

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

and 31 December 2022

10,000

AMORTISATION

At 1 January 2022

and 31 December 2022

10,000

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

736,887

Additions

99,720

At 31 December 2022

836,607

DEPRECIATION

At 1 January 2022

437,900

Charge for year

102,760

At 31 December 2022

540,660

NET BOOK VALUE

At 31 December 2022

295,947

At 31 December 2021

298,987

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

2022

2021

£

£

C Chance

Balance outstanding at start of year

-

-

Amounts advanced

35,203

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,203

-

7.	ULTIMATE CONTROLLING PARTY

The controlling party is C Chance.

Nemesis Ltd is a subsidiary of Sisemen Ltd which owns 100% of the issued share capital of Nemsis Ltd. The registered office of Sisemen Ltd is 11 Hornhill Road, Nunnery Park, Worcester, WR4 0SX. Chris Chance owns 100% of the shares in Sisemen Ltd and so is regarded as the ultimate controlling party of Nemesis Ltd.