IRIS Accounts Production v23.2.0.158 05097143 Board of Directors Board of Directors 1.2.22 31.1.23 31.1.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure050971432022-01-31050971432023-01-31050971432022-02-012023-01-31050971432021-01-31050971432021-02-012022-01-31050971432022-01-3105097143ns16:EnglandWales2022-02-012023-01-3105097143ns15:PoundSterling2022-02-012023-01-3105097143ns11:Director12022-02-012023-01-3105097143ns11:Director22022-02-012023-01-3105097143ns11:PrivateLimitedCompanyLtd2022-02-012023-01-3105097143ns11:SmallEntities2022-02-012023-01-3105097143ns11:AuditExempt-NoAccountantsReport2022-02-012023-01-3105097143ns11:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3105097143ns11:SmallCompaniesRegimeForAccounts2022-02-012023-01-3105097143ns11:FullAccounts2022-02-012023-01-3105097143ns11:RegisteredOffice2022-02-012023-01-3105097143ns6:CurrentFinancialInstruments2023-01-3105097143ns6:CurrentFinancialInstruments2022-01-3105097143ns6:Non-currentFinancialInstruments2023-01-3105097143ns6:Non-currentFinancialInstruments2022-01-3105097143ns6:ShareCapital2023-01-3105097143ns6:ShareCapital2022-01-3105097143ns6:CapitalRedemptionReserve2023-01-3105097143ns6:CapitalRedemptionReserve2022-01-3105097143ns6:RetainedEarningsAccumulatedLosses2023-01-3105097143ns6:RetainedEarningsAccumulatedLosses2022-01-3105097143ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-02-012023-01-3105097143ns6:LeaseholdImprovements2022-02-012023-01-3105097143ns6:PlantMachinery2022-02-012023-01-3105097143ns6:FurnitureFittings2022-02-012023-01-3105097143ns6:LandBuildings2022-01-3105097143ns6:LeaseholdImprovements2022-01-3105097143ns6:PlantMachinery2022-01-3105097143ns6:LandBuildings2022-02-012023-01-3105097143ns6:LandBuildings2023-01-3105097143ns6:LeaseholdImprovements2023-01-3105097143ns6:PlantMachinery2023-01-3105097143ns6:LandBuildings2022-01-3105097143ns6:LeaseholdImprovements2022-01-3105097143ns6:PlantMachinery2022-01-3105097143ns6:FurnitureFittings2022-01-3105097143ns6:ComputerEquipment2022-01-3105097143ns6:ComputerEquipment2022-02-012023-01-3105097143ns6:FurnitureFittings2023-01-3105097143ns6:ComputerEquipment2023-01-3105097143ns6:FurnitureFittings2022-01-3105097143ns6:ComputerEquipment2022-01-3105097143ns6:FurnitureFittingsns6:LeasedAssetsHeldAsLessee2022-01-3105097143ns6:FurnitureFittingsns6:LeasedAssetsHeldAsLessee2022-02-012023-01-3105097143ns6:FurnitureFittingsns6:LeasedAssetsHeldAsLessee2023-01-3105097143ns6:FurnitureFittingsns6:LeasedAssetsHeldAsLessee2022-01-3105097143ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3105097143ns6:WithinOneYearns6:CurrentFinancialInstruments2022-01-3105097143ns6:Secured2023-01-3105097143ns6:Secured2022-01-31
REGISTERED NUMBER: 05097143 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023

FOR

NEXSTOR LIMITED

NEXSTOR LIMITED (REGISTERED NUMBER: 05097143)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEXSTOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2023







DIRECTORS: T Platts
R Townsend





REGISTERED OFFICE: 1st Floor 49 High Street
Hucknall
Nottingham
NG15 7AW





REGISTERED NUMBER: 05097143 (England and Wales)





ACCOUNTANTS: Elkingtons Accountants Limited
1st Floor
49 High Street
Hucknall
Nottinghamshire
NG15 7AW

NEXSTOR LIMITED (REGISTERED NUMBER: 05097143)

BALANCE SHEET
31ST JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 487,512 476,377

CURRENT ASSETS
Stocks 94,391 -
Debtors 5 2,037,198 3,435,288
Cash at bank and in hand 1,017,906 178,686
3,149,495 3,613,974
CREDITORS
Amounts falling due within one year 6 2,618,452 3,289,589
NET CURRENT ASSETS 531,043 324,385
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,018,555

800,762

CREDITORS
Amounts falling due after more than one
year

7

(142,829

)

(178,148

)

PROVISIONS FOR LIABILITIES (85,096 ) (70,267 )
NET ASSETS 790,630 552,347

CAPITAL AND RESERVES
Called up share capital 660 660
Capital redemption reserve 340 340
Retained earnings 789,630 551,347
790,630 552,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 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.

NEXSTOR LIMITED (REGISTERED NUMBER: 05097143)

BALANCE SHEET - continued
31ST JANUARY 2023


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 11th October 2023 and were signed on its behalf by:




R Townsend - Director



T Platts - Director


NEXSTOR LIMITED (REGISTERED NUMBER: 05097143)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023

1. STATUTORY INFORMATION

Nexstor 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Improvements to property - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Office equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Research and development
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.

NEXSTOR LIMITED (REGISTERED NUMBER: 05097143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

2. ACCOUNTING POLICIES - continued

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Hire purchase and leasing commitments
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

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

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 24 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st February 2022 170,827 11,804 4,163
Additions - 46,216 -
At 31st January 2023 170,827 58,020 4,163
DEPRECIATION
At 1st February 2022 14,105 1,434 698
Charge for year 2,702 3,676 693
At 31st January 2023 16,807 5,110 1,391
NET BOOK VALUE
At 31st January 2023 154,020 52,910 2,772
At 31st January 2022 156,722 10,370 3,465

NEXSTOR LIMITED (REGISTERED NUMBER: 05097143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

4. TANGIBLE FIXED ASSETS - continued

Office Computer
equipment equipment Totals
£    £    £   
COST
At 1st February 2022 768,696 14,439 969,929
Additions 187,562 - 233,778
At 31st January 2023 956,258 14,439 1,203,707
DEPRECIATION
At 1st February 2022 462,876 14,439 493,552
Charge for year 215,572 - 222,643
At 31st January 2023 678,448 14,439 716,195
NET BOOK VALUE
At 31st January 2023 277,810 - 487,512
At 31st January 2022 305,820 - 476,377

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Office
equipment
£   
COST
At 1st February 2022 394,675
Additions 74,525
Transfer to ownership (146,974 )
At 31st January 2023 322,226
DEPRECIATION
At 1st February 2022 186,758
Charge for year 114,247
Transfer to ownership (146,974 )
At 31st January 2023 154,031
NET BOOK VALUE
At 31st January 2023 168,195
At 31st January 2022 207,917

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,266,650 2,709,740
Amounts owed by participating interests 13,941 13,941
Other debtors 756,607 711,607
2,037,198 3,435,288

NEXSTOR LIMITED (REGISTERED NUMBER: 05097143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,190 12,526
Hire purchase contracts 91,182 116,034
Trade creditors 1,077,294 1,789,091
Taxation and social security 213,812 72,677
Other creditors 1,222,974 1,299,261
2,618,452 3,289,589

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 41,281 54,471
Hire purchase contracts 101,548 123,677
142,829 178,148

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 54,471 66,997

The bank loan is secured by a fixed charge over the company's freehold property.