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REGISTERED NUMBER: 06943164 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

NEXUS COOLING LTD

NEXUS COOLING LTD (REGISTERED NUMBER: 06943164)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Balance sheet 1

Notes to the financial statements 2


NEXUS COOLING LTD (REGISTERED NUMBER: 06943164)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 28,298 37,222

Current assets
Stocks 5,000 20,000
Debtors 5 71,507 61,452
Cash at bank 1 83
76,508 81,535
Creditors
Amounts falling due within one year 6 58,672 50,701
Net current assets 17,836 30,834
Total assets less current liabilities 46,134 68,056

Creditors
Amounts falling due after more than one year 7 (37,280 ) (50,382 )

Provisions for liabilities 10 (5,377 ) (7,072 )
Net assets 3,477 10,602

Capital and reserves
Called up share capital 11 100 100
Retained earnings 3,377 10,502
Shareholders' funds 3,477 10,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2024 and were signed by:



Mr I Hill - Director


NEXUS COOLING LTD (REGISTERED NUMBER: 06943164)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. Statutory information

Nexus Cooling Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06943164. The registered office is 7 & 8 Church Street, Wimborne, BH21 1JH and business address is Bayside Business Centre, 1 Sovereign Business Park, Willis Way, Poole BH15 3TB.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of brewery cooling products net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 3 ) .

NEXUS COOLING LTD (REGISTERED NUMBER: 06943164)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 December 2022 1,304 75,100 6,205 82,609
Additions - - 509 509
At 30 November 2023 1,304 75,100 6,714 83,118
Depreciation
At 1 December 2022 1,058 40,514 3,815 45,387
Charge for year 62 8,646 725 9,433
At 30 November 2023 1,120 49,160 4,540 54,820
Net book value
At 30 November 2023 184 25,940 2,174 28,298
At 30 November 2022 246 34,586 2,390 37,222

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 December 2022
and 30 November 2023 53,975
Depreciation
At 1 December 2022 26,419
Charge for year 6,889
At 30 November 2023 33,308
Net book value
At 30 November 2023 20,667
At 30 November 2022 27,556

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 30,744 1,935
Other debtors 15,678 -
Directors' current accounts 24,514 58,991
Prepayments 571 526
71,507 61,452

NEXUS COOLING LTD (REGISTERED NUMBER: 06943164)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 11,694 17,023
Hire purchase contracts (see note 8) 7,432 9,637
Trade creditors 12,083 4,944
Tax 8,974 2,679
Social security and other taxes 2,283 1,123
Pension liability 198 198
VAT 13,308 7,518
Other creditors - 5,080
Accruals and deferred income 2,700 2,499
58,672 50,701

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 6,057 5,811
Bank loans - 2-5 years 19,318 18,635
Bank loans more 5 yr by instal 10,935 17,535
Hire purchase contracts (see note 8) 970 8,401
37,280 50,382

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,935 17,535

8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 7,432 9,637
Between one and five years 970 8,401
8,402 18,038

Non-cancellable operating leases
2023 2022
£    £   
Within one year 3,900 -

NEXUS COOLING LTD (REGISTERED NUMBER: 06943164)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 8,402 -

Amounts owing under hire purchase agreements are secured against the assets to which they relate.

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax 5,377 7,072

Deferred
tax
£   
Balance at 1 December 2022 7,072
Credit to Income statement during year (1,695 )
Balance at 30 November 2023 5,377

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100

12. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr I Hill
Balance outstanding at start of year 58,991 27,276
Amounts advanced 53,935 62,095
Amounts repaid (88,412 ) (30,380 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,514 58,991

At the balance sheet date the Director, Mr I Hill owed the company £24,514 (2022: £58,991). The amount outstanding at the balance sheet date was repaid in full within 9 months of the year end.

13. Ultimate controlling party

The company is controlled by the director, Mr I Hill, who owns 100% of the issued share capital.