COMPANY REGISTRATION NUMBER:
14065644
Nexus Labs Development Ltd |
|
Filleted Unaudited Financial Statements |
|
Nexus Labs Development Ltd |
|
Statement of Financial Position |
|
31 July 2024
|
31 Jul 24 |
31 Dec 23 |
Note |
£ |
£ |
|
|
|
Current assets
Debtors |
5 |
230,594 |
97,670 |
Cash at bank and in hand |
70,729 |
174 |
|
--------- |
-------- |
|
301,323 |
97,844 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
8,400 |
33,288 |
|
--------- |
-------- |
Net current assets |
292,923 |
64,556 |
|
--------- |
-------- |
Total assets less current liabilities |
292,923 |
64,556 |
|
--------- |
-------- |
Net assets |
292,923 |
64,556 |
|
--------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
Profit and loss account |
292,922 |
64,555 |
|
--------- |
-------- |
Shareholders funds |
292,923 |
64,556 |
|
--------- |
-------- |
|
|
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 July 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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
24 September 2024
, and are signed on behalf of the board by:
R D Harding
Director
Company registration number:
14065644
Nexus Labs Development Ltd |
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Notes to the Financial Statements |
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Period from 1 January 2024 to 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9th Floor, Neo Building, 9 Charlotte Street, Manchester, Greater Manchester, M1 4ET.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting period
These financial statements are for the period 1 January 2024 to 31 July 2024. The comparative period is from 1 September 2023 to 31 December 2023.
4.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis
and are prepared in sterling, which is the functional currency of the entity.
Going concern
The director in association with its parent company have assessed whether the use of going concern is appropriate and whether there are any material uncertainties related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. Based on projected cash flow forecasts covering a 12 month future period, the director and the company's management have concluded that the financial statements should be prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of discounts and of value added tax.
Taxation
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
5.
Debtors
|
31 Jul 24 |
31 Dec 23 |
|
£ |
£ |
Other debtors |
230,594 |
97,670 |
|
--------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
31 Jul 24 |
31 Dec 23 |
|
£ |
£ |
Amounts owed to group undertakings |
3,000 |
– |
Other creditors |
5,400 |
33,288 |
|
------- |
-------- |
|
8,400 |
33,288 |
|
------- |
-------- |
|
|
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7.
Controlling party
At the reporting date, the parent undertaking of this company is
Nexus Labs Games Limited (CRN:15335825).
The address of the registered office is 9th Floor, Neo Building, 9 Charlotte Street, Manchester, M1 4ET. At the reporting date, the ultimate parent company is Saltwater Games Limited (CRN:13888111).