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Registered number: 07542873

Nexus IFA Limited

ACCOUNTS
FOR THE YEAR ENDED 31/01/2024

Prepared By:
Andrew C Smallwood & Co Ltd
11 Wembdon Hill
Wembdon
Bridgwater
Somerset
TA6 7PX

Nexus IFA Limited

ACCOUNTS
FOR THE YEAR ENDED 31/01/2024
DIRECTORS
Lisa Frapple
Philip Desmond Frapple
Christopher Alan Rigby
Francesca Rigby
SECRETARY
Francesca Rigby
REGISTERED OFFICE
2 - 4 York Buildings
Cornhill
Bridgwater
Somerset
TA6 3BS
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07542873
ACCOUNTANTS
Andrew C Smallwood & Co Ltd
11 Wembdon Hill
Wembdon
Bridgwater
Somerset
TA6 7PX

Nexus IFA Limited

ACCOUNTS
FOR THEYEARENDED31/01/2024
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Nexus IFA Limited

BALANCE SHEET AT 31/01/2024
20242023
Notes££
FIXED ASSETS
Intangible assets21,038,6261,209,582
Tangible assets31,6802,242
1,040,3061,211,824
CURRENT ASSETS
Debtors49004,142
Cash at bank and in hand598,970771,830
599,870775,972
CREDITORS: Amounts falling due within one year5282,136251,698
NET CURRENT ASSETS317,734524,274
TOTAL ASSETS LESS CURRENT LIABILITIES1,358,0401,736,098
CREDITORS: Amounts falling due after more than one year6592,294742,264
NET ASSETS765,746993,834
CAPITAL AND RESERVES
Called up share capital8100100
Profit and loss account765,646993,734
SHAREHOLDERS' FUNDS765,746993,834
For the year ending 31/01/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 07/03/2024 and signed on their behalf by
.............................
Christopher Alan Rigby
Director

Nexus IFA Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/01/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
1c. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1d. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
2. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/02/20232,337,5652,337,565
At 31/01/20242,337,5652,337,565
Depreciation
At 01/02/20231,127,9831,127,983
For the year170,956170,956
At 31/01/20241,298,9391,298,939
Net Book Amounts
At 31/01/20241,038,6261,038,626
At 31/01/20231,209,5821,209,582

Nexus IFA Limited

3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/02/202311,07411,074
At 31/01/202411,07411,074
Depreciation
At 01/02/20238,8328,832
For the year562562
At 31/01/20249,3949,394
Net Book Amounts
At 31/01/20241,6801,680
At 31/01/20232,2422,242
4. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors800800
Other debtors1003,342
9004,142
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax7,16413,719
Directors current account10,11710,117
Trade creditors160,428179,778
Other creditors99,62743,270
Accruals4,8004,814
282,136251,698

Nexus IFA Limited

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Other creditors > 1yr592,294742,264
592,294742,264
7. EMPLOYEES
20242023
No.No.
Average number of employees2020
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Class 1 shares of £1 each100100
100100
9. RELATED PARTY TRANSACTIONS
Material interest of Directors.During the year the company purchased goods and services from concerns in which the Directors are materially interested.
Nexus Financial Planning £52,958 ( year ended 31/01/2023 £71,963)
The goods and services were purchased at normal trading terms.