08511463 2023-05-01 2024-04-30 08511463 uk-bus:Director1 2023-05-01 2024-04-30 08511463 uk-bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08511463 uk-bus:SmallEntities 2023-05-01 2024-04-30 08511463 uk-bus:FullAccounts 2023-05-01 2024-04-30 08511463 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08511463 2023-05-01 08511463 2024-04-30 08511463 2022-05-01 2023-04-30 08511463 2023-04-30 xbrli:pure iso4217:GBP 08511463 2022-05-01 2023-04-30
Company Registration Number : 08511463 (England and Wales)
08511463
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-04-30
false
Nomisma Solution Ltd
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-05-01
Nomisma Solution Ltd
Unaudited financial statements and annual report
For the year ended 30 April 2024
Nomisma Solution Ltd
Contents
For the year ended 30 April 2024

CONTENTS PAGE
Company Information 3
Directors' Report 4
Directors' Responsibilities Statement
Accountant's Report 5
Income Statement 6
Statement of Financial Position 7
Notes to the Financial Statements 8 - 11
Detailed Income Statement 12


Nomisma Solution Ltd
Company Information
For the year ended 30 April 2024

Company registration number 08511463 (England and Wales)
Directors Sumit Agarwal
Registered office address Suite 22 Winsor And Newton Building
Whitefriars Avenue
Harrow And Wealdstone
HA3 5RN
Accountant DNS Associates
Chartered Management Accountants
Dns House
Harrow, Middlesex
HA3 8DP












Accountant

DNS Associates
Chartered Management Accountants
Dns House
Harrow, Middlesex
HA3 8DP
Nomisma Solution Ltd
Directors' Report
For the year ended 30 April 2024

The directors present their report and the Unaudited Financial Statements for the year ended 30 April 2024.
Principal activity
The principal activity of the company continued to be that of business and domestic software development.
Directors of the company
The following directors held office during the whole of the period:
Sumit Agarwal
The following directors were resigned as follows:
Ashleigh Jonathan Hall (Resigned 31 January 2024)
Simon Victor William Guest (Resigned 15 May 2023)
Statement of directors' responsibilities
The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare such financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), FRS 102 1A

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to;

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent; and
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the special provisions for small companies within Part 15 of the Companies Act 2006.
Approved by the Board of directors and signed on its behalf by:
Sumit Agarwal (Director)
Date: 28 May 2024
This report was approved by the board on 2024-05-28 Date: 28 May 2024
Nomisma Solution Ltd
Accountant's report
For the year ended 30 April 2024

Accountant's Report to the board of directors on the preparation of the unaudited statutory accounts of Nomisma Solution Ltd for the year ended 30 April 2024.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nomisma Solution Ltd for the year ended 30 April 2024.

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on these financial statements.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
DNS Associates
Chartered Management Accountants
Dns House
Harrow, Middlesex

HA3 8DP
2024-05-28 Date: 28 May 2024
5
Nomisma Solution Ltd
Income Statement
For the year ended 30 April 2024

2024 2023
Notes £ £
Turnover 4 748,901 587,245
Cost of sales (23,099) (91,399)
Gross profit 725,802 495,846
Selling and distribution expenses (70,833) (81,236)
Administrative expenses (347,893) (426,725)
Other operating income - 48,260
Operating profit 5 307,077 36,145
Interest payable and similar charges 7 (52,491) (81,938)
Profit on ordinary activities before taxation 254,586 (45,793)
Tax 8 64,120 109,824
Profit for the year 318,706 64,031
/* == Copy of Frs105 Profit Loss for XML COntent ============================================================ */
Profit and loss account
2024 2023
£ £
Nomisma Solution Ltd
Statement of Financial Position
For the year ended 30 April 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 9 4,918,227 3,778,028
4,918,227 3,778,028
Current assets
Debtors 10 65,440 56,723
Cash and cash equivalents 11 27,721 34,368
93,162 91,092
Current liabilities
Creditors: Amounts falling due within one year 12 (725,508) (201,508)
Corporation tax payable (4,509) -
(730,018) (201,508)
Net current (liabilities)/assets (636,856) (110,416)
Total assets less current liabilities 4,281,371 3,667,612
Non-current liabilities
Creditors: Amounts falling due after more than one year 13 (30,059) (1,259,963)
Net assets/(liabilities) 4,251,312 2,407,649
Capital and reserves
Called up share capital 14 40,814 36,451
Share Premium 14 5,954,151 4,433,558
Retained earnings (1,743,654) (2,062,360)
Shareholders' funds 4,251,312 2,407,649
For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
  • For the year ended 30 April 2024 the company was entitled to exemption from audit 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 responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts 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.
Approved by the Board on 28 May 2024
.............................
Sumit Agarwal (Director)
Company registration number: 08511463
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-04-30 30 April 2024
2024 2023
£ £
Fixed Assets 4,918,227 3,778,028
Current Assets 84,556 85,608
Prepayments and accrued income 28,537 25,414
Creditors: amounts falling due within one year (749,949) (221,439)
Net current assets (liabilities) (636,856) (110,416)
Total assets less current liabilities 4,281,371 3,667,612
CREDITORS: Amounts falling due more than one year (30,059) (1,259,963)
Net Assets (liabilities) 4,251,312 2,407,649
Capital and Reserves 4,251,312 2,407,649
For the year ending 30/04/2024 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. For the year ending 30-04-2024 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 for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their 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 small companies provisions and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.
Approved by the board of directors on 28 May 2024 2024-05-28 and signed on behalf of the board,
.............................
Sumit Agarwal
Director
Company registration number: 08511463
Nomisma Solution Ltd
Notes to the Financial Statements
For the year ended 30 April 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Suite 22 Winsor And Newton Building, Whitefriars Avenue, Harrow And Wealdstone, HA3 5RN.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Foreign currency
Transactions in foreign currencies other than its functional currency are recorded at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the year-end date are translated at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement within financial income or expense, as appropriate. Non-monetary assets that are measured in terms of historical cost in foreign currency are translated using the exchange rate at the date of the transaction.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Intangible fixed assets
Development costs
Internally developed software (Development costs)

Expenditure on the research phase of projects to develop new software for accounitng and taxation systems is recognised as
an expense as incurred.

Costs that are directly attributable to a project’s development phase are recognised as intangible
assets, provided they meet all of the following recognition requirements:

• the development costs can be measured reliably
• the project is technically and commercially feasible
• the Group intends to and has sufficient resources to complete the project
• the Group has the ability to use or sell the software, and
• the software will generate probable future economic benefits.

Development costs not meeting these criteria for capitalization are expensed as incurred.

Directly attributable costs include employee costs incurred on software development along with an appropriate portion of
relevant overheads and borrowing costs.

Subsequent measurement

All finite­lived intangible assets, including capitalized internally developed software, are accounted for using the cost model
whereby capitalized costs are amortized on a straight ­line basis over their estimated useful lives. If there is an indication that
there has been a significant change in amortization rate, useful life or residual value of an intangible asset, the amortization is
revised prospectively to reflect the new expectations.

In addition, they are subject to impairment testing The following useful lives are applied:
• software: 5­ years

Any capitalized internally developed software that is not yet complete is not amortized but is
subject to impairment testing

Amortization has been included within depreciation, amortization and impairment of non­financial assets.

Subsequent expenditures on the maintenance of computer software and brand names are
expensed as incurred.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

(4) Turnover
The revenue from company's operations comprise:
2024 2023
£ £
Sales 748,901 587,245
748,901 587,245

(5) Operating profit
Operating profit for the year from continuing operations has been arrived after charging:
2024 2023
£ £
Staff costs 96,691 242,123
Director's remuneration 39,945 83,365
136,636 325,488

(6) Employees
During the year, the average number of employees including director was 3 (2023 : 9).

The above numbers are averages for the year and calculated on a full-time equivalent basis. The aggregate payroll costs of the above were:
2024 2023
£ £
Wages and salaries 126,837 292,204
Social security cost 7,596 25,774
Pension contributions 2,203 5,264
136,636 323,243

(7) Interest payable and similar charges
2024 2023
£ £
Interest on bank loans and overdrafts 52,491 81,938
52,491 81,938

(8) Tax
Current tax
2024 2023
£ £
Corporation tax charge for current year -64,120 -109,824
Total current tax -64,120 -109,824

(9) Intangible fixed assets
Development
Costs
£
Cost
As at 01 May 20235,557,725
Additions1,140,198
As at 30 April 20246,697,923
Amortisation
As at 01 May 20231,779,697
As at 30 April 20241,779,697
Net book value
As at 30 April 20244,918,226
As at 30 April 20233,778,028

(10) Debtors
Amounts falling due within one year
2024 2023
£ £
Trade debtors 18,340 17,339
Other debtors 18,564 13,970
Prepayments and accrued income 28,537 25,414
65,440 56,723

(11) Cash and cash equivalents
2024 2023
£ £
Bank balance 27,721 34,368
27,721 34,368

(12) Creditors: Amounts falling due within one year
2024 2023
£ £
Trade creditors 133,760 160,097
Bank loans and overdrafts 5,385 6,252
Other taxes and social security 1,898 3,773
Other creditors 579,965 22,386
Accruals and deferred income 4,500 9,000
725,508 201,508

(13) Creditors: Amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 30,059 35,447
Other creditors - 1,224,516
30,059 1,259,963

(14) Share capital and reserves
Alloted, called up and fully paid: 2024 2023
£ £
4,081,424 (2023 : 3,645,055) Ordinary shares of £ 0.01 each40,81436,451
40,814 36,451
Retained earnings 2024
£
At 1 May 2023 (2,062,360)
Profit of the year 318,706
At 30 April 2024 (1,743,654)

(15) Prior Period Adjustment
Following balance have been restated in prior period:

In 2023, the company erroneously recorded the subcontractor costs of £6,214 to legal and professional fees which has been presented correctly in current financial statement.
Nomisma Solution Ltd
Detailed Income Statement
For the year ended 30 April 2024




This section does not form part of the statutory accounts.




2024 2023
£ £
Turnover 748,901 587,245
Less : Cost of sales
Subcontractor costs 23,099 6,214
Discounts - 85,185
23,099 91,399
Gross Profit 725,802 495,846
Add : Other operating income
Grant Income - 48,260
- 48,260
Less : Selling and distribution expenses
Advertising and Marketing 67,790 79,313
UK and Overseas Travel Costs 3,043 1,924
70,833 81,236
Less : Administrative expenses
Bad Debts 10,779 -
Rent - Virtual Office 11,012 10,971
Other consumable and license 84,421 13,317
Directors' Remuneration 39,945 83,365
Employee Wages - Casual - 2,246
Employee Salary Expense 86,892 208,839
Employers NI 7,596 25,774
Employer Pension Contributions 2,203 5,264
Training & Devlopement - 1,037
Equipment Leased 588 588
Low Value Equipment 510 1,774
Accountancy, Bookkeeping and Auditing Fees 4,500 4,500
Legal and Professional Fees 95,433 64,402
Insurance 1,498 931
Printing, Postage and Stationery - 515
Telephone and Internet 1,714 2,338
Bank Fees 191 516
Office Expenses 610 347
347,893 426,725
Operating profit 307,077 36,145
Less : Interest payable and similar charges
Hire Purchase and Bank Loan Interest 958 1,938
Interest on loan 51,533 80,000
52,491 81,938
Profit on ordinary activities before taxation 254,586 (45,793)
Less : Tax
Corporation Tax (64,120) (109,824)
(64,120) (109,824)
Net profit for the year after taxation 318,706 64,031