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REGISTERED NUMBER: 05265978 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2022

for

Nextex Ltd

Nextex Ltd (Registered number: 05265978)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


Nextex Ltd (Registered number: 05265978)

Balance Sheet
31 October 2022

31.10.22 31.10.21
Notes £ £
Fixed assets
Tangible assets 4 440,231 451,550

Current assets
Stocks 5 145,600 160,600
Debtors 6 14,682 67,365
Cash at bank 178,125 105,887
338,407 333,852
Creditors
Amounts falling due within one year 7 (363,542 ) (346,314 )
Net current liabilities (25,135 ) (12,462 )
Total assets less current liabilities 415,096 439,088

Creditors
Amounts falling due after more than
one year

8

(239,801

)

(264,801

)
Net assets 175,295 174,287

Capital and reserves
Called up share capital 10 2 2
Retained earnings 175,293 174,285
Shareholders' funds 175,295 174,287

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

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

Nextex Ltd (Registered number: 05265978)

Balance Sheet - continued
31 October 2022


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 5 October 2023 and were signed on its behalf by:




Tahir Ahmed - Director



Hammad Ahmad - Director


Nextex Ltd (Registered number: 05265978)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. Statutory information

Nextex Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05265978

Registered office: 5 Wealdstone Road
Sutton
Surrey
SM3 9QN

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 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Nextex Ltd (Registered number: 05265978)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

2. Accounting policies - continued

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 5 (2021 - 4 ) .

4. Tangible fixed assets
Fixtures
Freehold and
property fittings Totals
£ £ £
Cost
At 1 November 2021
and 31 October 2022 507,485 6,873 514,358
Depreciation
At 1 November 2021 56,034 6,774 62,808
Charge for year 11,286 33 11,319
At 31 October 2022 67,320 6,807 74,127
Net book value
At 31 October 2022 440,165 66 440,231
At 31 October 2021 451,451 99 451,550

5. Stocks
31.10.22 31.10.21
£ £
Finished goods 145,600 160,600

6. Debtors: amounts falling due within one year
31.10.22 31.10.21
£ £
Trade debtors 14,238 66,921
Prepayments 444 444
14,682 67,365

Nextex Ltd (Registered number: 05265978)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

7. Creditors: amounts falling due within one year
31.10.22 31.10.21
£ £
Bank loans and overdrafts (see note 9)
40,518

45,518
Trade creditors 154,740 273,677
Corporation tax 2,936 11,223
Social security and other taxes 6,461 6,461
VAT 29,151 6,363
Other creditors 15,348 3,072
Accrued expenses 114,388 -
363,542 346,314

8. Creditors: amounts falling due after more than one year
31.10.22 31.10.21
£ £
Bank loans (see note 9) 239,801 264,801

9. Loans

An analysis of the maturity of loans is given below:

31.10.22 31.10.21
£ £
Amounts falling due within one year or on demand:
Bank loans < 1 year 40,518 45,518

Amounts falling due between one and two years:
Bank loans > 1 year 239,801 264,801

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.22 31.10.21
value: £ £
2 Ordinary shares 1 2 2