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Company registration number: 8491440







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024


NEXUS PLANNING LIMITED






































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NEXUS PLANNING LIMITED
 


 
COMPANY INFORMATION


Directors
I Apsley 
P Mawson 
R Pearson 
A N Ross 
P Tooher 
R S Tustain 
A J Clements 
S Marwaha 




Registered number
8491440



Registered office
Holmes House
4 Pear Place

London

England

SE1 8BT




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT




Bankers
HSBC Bank Plc

Manchester

M2 7HD





 


NEXUS PLANNING LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 7


 


NEXUS PLANNING LIMITED
REGISTERED NUMBER:8491440



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible Assets
 5 
3,315
7,458

Tangible fixed assets
  
11,405
35,531

  
14,720
42,989

Current assets
  

Debtors: amounts falling due within one year
 7 
1,179,547
1,064,742

Bank and cash balances
  
2,972
17,112

  
1,182,519
1,081,854

Creditors: amounts falling due within one year
 9 
(851,497)
(643,428)

Net current assets
  
 
 
331,022
 
 
438,426

Net assets
  
345,742
481,415


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Share premium account
  
147,369
147,369

Profit and loss account
  
197,373
333,046

  
345,742
481,415


The financial statements 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.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R S Tustain
Director
Date: 17 October 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 


NEXUS PLANNING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Nexus Planning Limited is a private company limited by shares, incorporated in the England and Wales under Companies Act 2006. The registered office and pricipal trading address is given on the Company Information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors, from reviewing forcasts and budgets, conclude by making informed judgements from the data compiled, that the Company is a going concern as at the date of approval of these financial statements and looking 12 months forward and continue to adopt a going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Revenue for consultancy and other services is recognised by reference to the stage of completion.  Stage of completion is measured by reference to labour hours and related costs incurred to date, as a percentage of total estimated labour hours and other related costs for each contract.  Where the contract outcome cannot be measured reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Where contracts are expected to have outturn losses, the losses are recognised in full immediately as onerous contracts.

Page 2

 


NEXUS PLANNING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

All interest-bearing loans and borrowings which are basic financial instruments are initally recognised at the present value of cash payable (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. The effective interest rate amortisation is included in finance costs in the income statement. 

  
2.7

Defined contribution pension plan

The Company makes payments into the Broadway Malyan Group's personal pension plan on behalf of all employees who choose to join or are automatically enrolled under relevant legislation. The pension plan is a defined contribution scheme and contributions are charged to the income statement as they  accrue. 

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

 


NEXUS PLANNING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
5 years straight line
Fixtures, fittings and equipment
-
3-5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

-  The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported in revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those judgements.
-     Accrued and deferred income
-   Revenure recognition includes estimations that are susceptible to management's estimations of the cost to complete, any additionl fees and the stage of completion of the job. 


4.


Employees

The average monthly number of employees, including directors, during the year was 46 (2023 - 45).

Page 4

 


NEXUS PLANNING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Intangible assets




Computer software

£



Cost


At 1 May 2023
12,430



At 30 April 2024

12,430



Amortisation


At 1 May 2023
4,972


Charge for the year on owned assets
4,143



At 30 April 2024

9,115



Net book value



At 30 April 2024
3,315



At 30 April 2023
7,458



Page 5

 


NEXUS PLANNING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Tangible fixed assets





Short-term leasehold property
Fixtures, fittings and equipment
Total

£
£
£



Cost 


At 1 May 2023
52,890
12,261
65,151


Additions
-
1,000
1,000



At 30 April 2024

52,890
13,261
66,151



Depreciation


At 1 May 2023
24,849
4,771
29,620


Charge for the year on owned assets
21,657
3,469
25,126



At 30 April 2024

46,506
8,240
54,746



Net book value



At 30 April 2024
6,384
5,021
11,405



At 30 April 2023
28,041
7,490
35,531


7.


Debtors

2024
2023
£
£


Trade debtors
923,258
881,532

Amounts owed by group undertakings
2,100
100

Other debtors
49,157
12,445

Deferred tax
34,111
28,004

Prepayments
75,104
71,305

Accrued income
95,817
71,356

1,179,547
1,064,742



8.


Cash and cash equivalents

Nexus Planning Limited participates in the group banking facilities and arrangements within the Broadway Malyan Group which provide day to day financing throughout the Broadway Malyan Group of companies controlled by Broadway Malyan Employee Ownership Trust Limited, a company incorporated in England and Wales.

Page 6

 


NEXUS PLANNING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
118,941
30,436

Trade creditors
76,434
153,941

Amounts owed to group undertakings
167,286
33,299

Corporation tax
-
9,278

Other taxation and social security
251,648
230,595

Accruals
227,652
185,879

Other creditors
9,536
-

851,497
643,428


The Broadway Malyan Group has a number of loans and overdrafts which are secured by various debentures providing fixed and floating charges over certain assets of the group including its controlling interest in Nexus Planning Limited.


10.


Ultimate parent undertaking

The parent undertaking of the smallest group in which consolidated financial statements are prepared, which include this company, is Broadway Malyan Holdings Limited. The company’s registered address is Holmes House, 4 Pear Place, London, England, SE1 8BT.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 18 October 2024 by Ralph Mitchison FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7