Registered number
12098495
Nextjen Property Limited
Filleted Accounts
31 July 2023
Nextjen Property Limited
Registered number: 12098495
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Current assets
Cash at bank and in hand 18 13
Creditors: amounts falling due within one year 4 (13,460) (12,348)
Net current liabilities (13,442) (12,335)
Net liabilities (13,442) (12,335)
Capital and reserves
Called up share capital 130 130
Profit and loss account (13,572) (12,465)
Shareholder's funds (13,442) (12,335)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mike Jennings
Director
Approved by the board on 2 April 2024
Nextjen Property Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Going concern
The company has an excess of liabilities over assets at 31 July 2020 and the company's ability to continue trading is dependant on the full support of the company's director and shareholder. The director considers that the company will continue to trade for the foreseeable future and accordingly the financial statements are prepared on a going concern basis.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to directors 12,860 11,748
Other creditors 600 600
13,460 12,348
5 Other information
Nextjen Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Burrell Close
Partridge Green
Horsham
West Sussex
RH13 8BH
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