2022-03-012023-02-282023-02-28false09990192NEXUS F&I CONSTRUCTION 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NEXUS F&I CONSTRUCTION LTD

(formerly NEXUS DRYLINING SERVICE LTD)

Registered Number
09990192
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

NEXUS F&I CONSTRUCTION LTD
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

IAKOBIDZE, Teimuraz

Registered Address

54 Verdant Lane
London
SE6 1LF

Registered Number

09990192 (England and Wales)
NEXUS F&I CONSTRUCTION LTD
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets525,963-
25,963-
Current assets
Debtors69,693132,259
Cash at bank and on hand-2,254
9,693134,513
Creditors amounts falling due within one year7(48,328)(18,274)
Net current assets (liabilities)(38,635)116,239
Total assets less current liabilities(12,672)116,239
Creditors amounts falling due after one year8(73,914)(48,195)
Net assets(86,586)68,044
Capital and reserves
Called up share capital11
Profit and loss account(86,587)68,043
Shareholders' funds(86,586)68,044
The financial statements were approved and authorised for issue by the Director on 1 November 2023, and are signed on its behalf by:
IAKOBIDZE, Teimuraz
Director
Registered Company No. 09990192
NEXUS F&I CONSTRUCTION LTD
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
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.
4.Employee information
The average number of employees during the year was as follows:

20232022
Average number of employees during the year00
5.Property, plant and equipment

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 March 22-3,6223,622
Additions32,795-32,795
At 28 February 2332,7953,62236,417
Depreciation and impairment
At 01 March 22-3,6223,622
Charge for year6,832-6,832
At 28 February 236,8323,62210,454
Net book value
At 28 February 2325,963-25,963
At 28 February 22---
6.Debtors

2023

2022

££
Other debtors4,412131,099
Prepayments and accrued income5,2811,160
Total9,693132,259
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.
7.Creditors within one year

2023

2022

££
Taxation and social security19,46117,724
Other creditors28,867550
Total48,32818,274
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.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts73,91448,195
Total73,91448,195