Nordimax Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC719080 (Scotland)

Unaudited Financial Statements

for the Period 6 January 2022 to 31 December 2022

for

Nordimax Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

CURRENT ASSETS

Stocks

32,045

Debtors

4

11,695

Cash at bank

5,849

49,589

CREDITORS

Amounts falling due within one year

5

(26,050

)

NET CURRENT ASSETS

23,539

TOTAL ASSETS LESS CURRENT LIABILITIES

23,539

CREDITORS

Amounts falling due after more than one year

6

(40,000

)

NET LIABILITIES

(16,461

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(16,561

)

(16,461

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 September 2023 and were signed by:

Mr E J Paterson - Director

1.	STATUTORY INFORMATION

Nordimax Limited is a private company, limited by shares, domiciled in Scotland, registration number SC719080. The registered office is Unit 5, Gateway Business Park, Beancross Road, Grangemouth, Stirlingshire, FK3 8WX.

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 represents net invoiced sales of goods in respect of buying and selling bulk packaging, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation

Taxation for the period 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 period 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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Going concern

The director of the company has reviewed the company's financial position for 12 months from the balance sheet signing date and it is their belief that the company should prepare the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

7,770

Other debtors

3,925

11,695

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

23,550

Other creditors

2,500

26,050

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Amounts owed to related parties

40,000

7.	RELATED PARTY DISCLOSURES

Transactions and balances with entities with common control and ownership are as follows:

Amounts owed to related parties - £40,000.