Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30No description of principal activity2022-07-01false33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11295115 2022-07-01 2023-06-30 11295115 2021-07-01 2022-06-30 11295115 2023-06-30 11295115 2022-06-30 11295115 c:Director1 2022-07-01 2023-06-30 11295115 d:CurrentFinancialInstruments 2023-06-30 11295115 d:CurrentFinancialInstruments 2022-06-30 11295115 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11295115 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 11295115 d:ShareCapital 2023-06-30 11295115 d:ShareCapital 2022-06-30 11295115 d:RetainedEarningsAccumulatedLosses 2023-06-30 11295115 d:RetainedEarningsAccumulatedLosses 2022-06-30 11295115 c:FRS102 2022-07-01 2023-06-30 11295115 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 11295115 c:FullAccounts 2022-07-01 2023-06-30 11295115 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11295115 d:Subsidiary1 2022-07-01 2023-06-30 11295115 d:Subsidiary1 1 2022-07-01 2023-06-30 11295115 d:Subsidiary3 2022-07-01 2023-06-30 11295115 d:Subsidiary3 1 2022-07-01 2023-06-30 11295115 d:Subsidiary29 2022-07-01 2023-06-30 11295115 d:Subsidiary29 1 2022-07-01 2023-06-30 11295115 d:Subsidiary30 2022-07-01 2023-06-30 11295115 d:Subsidiary30 1 2022-07-01 2023-06-30 11295115 2 2022-07-01 2023-06-30 11295115 6 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 11295115









NEXUS FUNDING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
NEXUS FUNDING LTD
REGISTERED NUMBER: 11295115

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,500,952
3,354,172

  
1,500,952
3,354,172

Current assets
  

Cash at bank and in hand
 5 
280,879
3,005

  
280,879
3,005

Creditors: amounts falling due within one year
 6 
(1,188,068)
(3,332,680)

Net current liabilities
  
 
 
(907,189)
 
 
(3,329,675)

Total assets less current liabilities
  
593,763
24,497

  

Net assets
  
593,763
24,497


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
593,663
24,397

  
593,763
24,497


Page 1

 
NEXUS FUNDING LTD
REGISTERED NUMBER: 11295115
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 October 2023.




G Willis
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
NEXUS FUNDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Nexus Funding Ltd is a private company, limited by shares, incorporated in England and Wales, registration number 11295115. The address of the registered office is 32 Janes Lane, Burgess Hill, West Sussex, RH15 0QR. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
NEXUS FUNDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.



 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
NEXUS FUNDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
3,354,172



At 30 June 2023

3,354,172



Impairment


Charge for the period
1,853,220



At 30 June 2023

1,853,220



Net book value



At 30 June 2023
1,500,952



At 30 June 2022
3,354,172


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Principal activity

Class of shares

Holding

General Asset Management Leasing Ltd
Leasing services
Ordinary
100%
FAS Capital Ltd
Provision of lease finance to businesses
Ordinary
  100%
George Simmons Racing Ltd
Bookmaking services
Ordinary
  100%
Apollo Bookmakers Ltd
Bookmaking services
Ordinary
 100%

Page 5

 
NEXUS FUNDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
Subsidiary undertakings (continued)

The aggregate of the share capital and reserves as at 30 June 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

General Asset Management Leasing Ltd
28,456
59,443

FAS Capital Ltd
656,133
2,046,249

George Simmons Racing Ltd
2,330
(14,400)

Apollo Bookmakers Ltd
123
(2,212)


5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
280,879
3,004

280,879
3,004



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
277,400
-

Corporation tax
2,168
2,680

Other creditors
908,500
3,330,000

1,188,068
3,332,680



7.


Related party transactions

During the year there were no material transactions not concluded under normal market conditions with
related parties

 
Page 6