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REGISTERED NUMBER: SC616119 (Scotland)











































Nexus Resource Solutions Ltd.

Unaudited Financial Statements

for the Year Ended 31st January 2024






Nexus Resource Solutions Ltd. (Registered number: SC616119)






Contents of the Financial Statements
for the year ended 31st January 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Nexus Resource Solutions Ltd.

Company Information
for the year ended 31st January 2024







Directors: B Ruthven
C Pinnons





Registered office: Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL





Business address: 18 Hoggan Way
Loanhead
Midlothian
EH20 9DG





Registered number: SC616119 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Nexus Resource Solutions Ltd. (Registered number: SC616119)

Balance Sheet
31st January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - 245
Tangible assets 5 1,409 958
1,409 1,203

Current assets
Debtors 6 181,288 303,689
Cash at bank 227,700 278,892
408,988 582,581
Creditors
Amounts falling due within one year 7 76,991 284,235
Net current assets 331,997 298,346
Total assets less current liabilities 333,406 299,549

Capital and reserves
Called up share capital 50,000 50,000
Retained earnings 283,406 249,549
333,406 299,549

Nexus Resource Solutions Ltd. (Registered number: SC616119)

Balance Sheet - continued
31st January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th October 2024 and were signed on its behalf by:





C Pinnons - Director


Nexus Resource Solutions Ltd. (Registered number: SC616119)

Notes to the Financial Statements
for the year ended 31st January 2024

1. Statutory information

Nexus Resource Solutions Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the provision of recruitment consultancy services is recognised as contract activity progresses and the right to consideration is earned

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, other loans and directors' loans.

Directors' loans (being repayable on demand), other loans, trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Nexus Resource Solutions Ltd. (Registered number: SC616119)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

2. Accounting policies - continued
Deferred tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The pension costs charged in the financial statements represent the contribution payable by the company during the year.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 23 (2023 - 62 ) .

Nexus Resource Solutions Ltd. (Registered number: SC616119)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

4. Intangible fixed assets
Website
£   
Cost
At 1st February 2023
and 31st January 2024 1,225
Amortisation
At 1st February 2023 980
Amortisation for year 245
At 31st January 2024 1,225
Net book value
At 31st January 2024 -
At 31st January 2023 245

5. Tangible fixed assets
Equipment
£   
Cost
At 1st February 2023 2,512
Additions 1,190
At 31st January 2024 3,702
Depreciation
At 1st February 2023 1,554
Charge for year 739
At 31st January 2024 2,293
Net book value
At 31st January 2024 1,409
At 31st January 2023 958

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 115,427 268,743
Other debtors 65,861 34,946
181,288 303,689

Nexus Resource Solutions Ltd. (Registered number: SC616119)

Notes to the Financial Statements - continued
for the year ended 31st January 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 17,245 77,723
Taxation and social security 58,246 201,294
Other creditors 1,500 5,218
76,991 284,235