Silverfin false false 29/02/2024 01/03/2023 29/02/2024 J Sams 11/01/2022 10 September 2024 The principal activity of the Company during the financial year was organising sports camps for students. 13841222 2024-02-29 13841222 bus:Director1 2024-02-29 13841222 2023-02-28 13841222 core:CurrentFinancialInstruments 2024-02-29 13841222 core:CurrentFinancialInstruments 2023-02-28 13841222 core:ShareCapital 2024-02-29 13841222 core:ShareCapital 2023-02-28 13841222 core:RetainedEarningsAccumulatedLosses 2024-02-29 13841222 core:RetainedEarningsAccumulatedLosses 2023-02-28 13841222 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-02-28 13841222 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-02-29 13841222 core:OfficeEquipment 2023-02-28 13841222 core:ComputerEquipment 2023-02-28 13841222 core:OfficeEquipment 2024-02-29 13841222 core:ComputerEquipment 2024-02-29 13841222 core:CostValuation 2023-02-28 13841222 core:CostValuation 2024-02-29 13841222 bus:OrdinaryShareClass1 2024-02-29 13841222 2023-03-01 2024-02-29 13841222 bus:FilletedAccounts 2023-03-01 2024-02-29 13841222 bus:SmallEntities 2023-03-01 2024-02-29 13841222 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13841222 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13841222 bus:Director1 2023-03-01 2024-02-29 13841222 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-03-01 2024-02-29 13841222 core:OfficeEquipment core:TopRangeValue 2023-03-01 2024-02-29 13841222 core:ComputerEquipment core:TopRangeValue 2023-03-01 2024-02-29 13841222 2022-01-11 2023-02-28 13841222 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 13841222 core:OfficeEquipment 2023-03-01 2024-02-29 13841222 core:ComputerEquipment 2023-03-01 2024-02-29 13841222 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 13841222 bus:OrdinaryShareClass1 2022-01-11 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13841222 (England and Wales)

NSX LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

NSX LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

NSX LTD

BALANCE SHEET

As at 29 February 2024
NSX LTD

BALANCE SHEET (continued)

As at 29 February 2024
Note 29.02.2024 28.02.2023
£ £
Fixed assets
Intangible assets 3 10,496 7,508
Tangible assets 4 3,449 3,750
Investments 5 53,986 53,986
67,931 65,244
Current assets
Debtors 6 170,926 58,514
Cash at bank and in hand 7 15,891 17,997
186,817 76,511
Creditors: amounts falling due within one year 8 ( 627,549) ( 363,841)
Net current liabilities (440,732) (287,330)
Total assets less current liabilities (372,801) (222,086)
Net liabilities ( 372,801) ( 222,086)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 372,901 ) ( 222,186 )
Total shareholder's deficit ( 372,801) ( 222,086)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of NSX Ltd (registered number: 13841222) were approved and authorised for issue by the Director on 10 September 2024. They were signed on its behalf by:

J Sams
Director
NSX LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
NSX LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

NSX Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 12 Bury St, Suffolk, United Kingdom, IP14 1HA.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
29.02.2024
Period from
11.01.2022 to
28.02.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 10 11

3. Intangible assets

Website costs Total
£ £
Cost
At 01 March 2023 8,720 8,720
Additions 8,488 8,488
At 29 February 2024 17,208 17,208
Accumulated amortisation
At 01 March 2023 1,212 1,212
Charge for the financial year 5,500 5,500
At 29 February 2024 6,712 6,712
Net book value
At 29 February 2024 10,496 10,496
At 28 February 2023 7,508 7,508

4. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 March 2023 2,500 2,500 5,000
Additions 1,755 0 1,755
At 29 February 2024 4,255 2,500 6,755
Accumulated depreciation
At 01 March 2023 625 625 1,250
Charge for the financial year 1,223 833 2,056
At 29 February 2024 1,848 1,458 3,306
Net book value
At 29 February 2024 2,407 1,042 3,449
At 28 February 2023 1,875 1,875 3,750

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 March 2023 53,986 53,986
At 29 February 2024 53,986 53,986
Carrying value at 29 February 2024 53,986 53,986
Carrying value at 28 February 2023 53,986 53,986

6. Debtors

29.02.2024 28.02.2023
£ £
Trade debtors 89,470 11,433
Other debtors 81,456 47,081
170,926 58,514

7. Cash and cash equivalents

29.02.2024 28.02.2023
£ £
Cash at bank and in hand 15,891 17,997

8. Creditors: amounts falling due within one year

29.02.2024 28.02.2023
£ £
Trade creditors 110,791 114,635
Other taxation and social security 5,183 2,301
Other creditors 511,575 246,905
627,549 363,841

9. Called-up share capital

29.02.2024 28.02.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Other related party transactions

29.02.2024 28.02.2023
£ £
Other Creditors 306,299 103,656
Amounts owed to key management 0 1,162

Included within other creditors is a balance of £22,007 (2023: £9,670) owed to Northfield Business Management Limited a company in which Ms J Sams is a director and controlling shareholder.
Included within other creditors is a balance of £284,292 (2023: £93,986) owed to Northfield South West Limited a company in which Ms J Sams is a director and controlling shareholder.