Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 21 October 2021 false 1 November 2022 31 October 2023 31 October 2023 13696119 Abdulhamid Walid Albakoush Sultan Ghazi Hashim Sultan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13696119 2022-10-31 13696119 2023-10-31 13696119 2022-11-01 2023-10-31 13696119 frs-core:CurrentFinancialInstruments 2023-10-31 13696119 frs-core:ShareCapital 2023-10-31 13696119 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 13696119 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 13696119 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 13696119 frs-bus:SmallEntities 2022-11-01 2023-10-31 13696119 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 13696119 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 13696119 frs-core:CostValuation 2022-10-31 13696119 frs-core:AdditionsToInvestments 2023-10-31 13696119 frs-core:CostValuation 2023-10-31 13696119 frs-core:ProvisionsForImpairmentInvestments 2022-10-31 13696119 frs-core:ProvisionsForImpairmentInvestments 2023-10-31 13696119 frs-bus:Director1 2022-11-01 2023-10-31 13696119 frs-bus:Director2 2022-11-01 2023-10-31 13696119 frs-countries:EnglandWales 2022-11-01 2023-10-31 13696119 2021-10-20 13696119 2022-10-31 13696119 2021-10-21 2022-10-31 13696119 frs-core:CurrentFinancialInstruments 2022-10-31 13696119 frs-core:ShareCapital 2022-10-31 13696119 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 13696119
Nexa Capital Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 13696119
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Investments 3 404,000 125,000
404,000 125,000
CURRENT ASSETS
Debtors 4 104,535 4,331
Cash at bank and in hand 154 670
104,689 5,001
Creditors: Amounts Falling Due Within One Year 5 (513,555 ) (134,255 )
NET CURRENT ASSETS (LIABILITIES) (408,866 ) (129,254 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,866 ) (4,254 )
NET LIABILITIES (4,866 ) (4,254 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (4,966 ) (4,354 )
SHAREHOLDERS' FUNDS (4,866) (4,254)
For the year ending 31 October 2023 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 responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Abdulhamid Walid Albakoush
Director
19 July 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Interest income
Revenue is recognised as interest accrues using the effective interest method.
1.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income 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 liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.4. Investment
Investments include investment in unlisted shares and loans. Equity investments in unlisted company are recognized at cost less impairment as the fair value cannot be measured reliably. Any impairment loss in relation to the investment is recognized in the income statement. Loan investments are recognised at cost.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
2 2
3. Investments
Joint Ventures
£
Cost
As at 1 November 2022 125,000
Additions 279,000
As at 31 October 2023 404,000
Provision
As at 1 November 2022 -
As at 31 October 2023 -
...CONTINUED
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Net Book Value
As at 31 October 2023 404,000
As at 1 November 2022 125,000
4. Debtors
31 October 2023 31 October 2022
£ £
Due within one year
Amounts owed by subsidiaries 104,535 -
Amounts owed by other related parties - 4,331
104,535 4,331
5. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Accruals and deferred income 600 300
Directors' loan accounts 462,955 133,955
Amounts owed to related parties 50,000 -
513,555 134,255
6. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
7. Related Party Transactions
Included in debtors due within one year is an amount of £104,535 (2022: £ 4,331) owed by subsidiary companies. The amount is interest free and receivable on demand.
Included in creditors due within one year is an amount of £462,955 (2022: £133,955) owed to its directors and an amount of £50,000 (2022: £0) owed to a company in which the director has beneficial interest. These amounts are interest free and repayable on demand.
8. General Information
Nexa Capital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13696119 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
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