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Registration number: 03535268

Nemesis CGI Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 April 2022 to 30 March 2023

 

Nemesis CGI Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Nemesis CGI Ltd

Company Information

Director

S L Bishop

Company secretary

J Boots

Registered office

39 High Street
Battle
East Sussex
TN33 0EE

Accountants

Manningtons
39 High Street
Battle
East Sussex
TN33 0EE

 

Nemesis CGI Ltd

(Registration number: 03535268)
Balance Sheet as at 30 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,741

6,268

Current assets

 

Debtors

5

604

-

Cash at bank and in hand

 

75

4,327

 

679

4,327

Creditors: Amounts falling due within one year

6

(16,144)

(16,979)

Net current liabilities

 

(15,465)

(12,652)

Total assets less current liabilities

 

(10,724)

(6,384)

Provisions for liabilities

-

(1,117)

Net liabilities

 

(10,724)

(7,501)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(10,725)

(7,502)

Shareholders' deficit

 

(10,724)

(7,501)

For the financial period ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 March 2024
 

.........................................
S L Bishop
Director

 

Nemesis CGI Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
39 High Street
Battle
East Sussex
TN33 0EE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding that there is a deficiency
of assets at the year end date amounting to £11,932. The validity of this assumption is dependent on the
continued financial support of the company's director and creditors. The financial statements do not include any
adjustments that would result from discontinuance of their financial support. On this basis, the director considers
that it is appropriate for the financial statements to be prepared on the going concern basis.he financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Nemesis CGI Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

35% reducing balance

Computer equipment

35% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Nemesis CGI Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

Nemesis CGI Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

94,630

94,630

Additions

942

942

At 30 March 2023

95,572

95,572

Depreciation

At 1 April 2022

88,362

88,362

Charge for the period

2,469

2,469

At 30 March 2023

90,831

90,831

Carrying amount

At 30 March 2023

4,741

4,741

At 31 March 2022

6,268

6,268

5

Debtors

2023
£

2022
£

Trade debtors

600

-

Taxation and social security

4

-

604

-

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

1,822

-

Taxation and social security

 

-

1,620

Accruals and deferred income

 

4,651

3,651

Other creditors

 

1

-

Director loan account

 

9,670

11,708

 

16,144

16,979

 

Nemesis CGI Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 March 2023

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

1,822

-