Acorah Software Products - Accounts Production 16.1.200 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC446281 Mr J A McGrinder Mrs J McGrinder iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC446281 2023-03-31 SC446281 2024-03-31 SC446281 2023-04-01 2024-03-31 SC446281 frs-core:CurrentFinancialInstruments 2024-03-31 SC446281 frs-core:Non-currentFinancialInstruments 2024-03-31 SC446281 frs-core:ComputerEquipment 2024-03-31 SC446281 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC446281 frs-core:ComputerEquipment 2023-03-31 SC446281 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 SC446281 frs-core:FurnitureFittings 2024-03-31 SC446281 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC446281 frs-core:FurnitureFittings 2023-03-31 SC446281 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC446281 frs-core:OtherResidualIntangibleAssets 2024-03-31 SC446281 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 SC446281 frs-core:OtherResidualIntangibleAssets 2023-03-31 SC446281 frs-core:ShareCapital 2024-03-31 SC446281 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC446281 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC446281 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC446281 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC446281 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC446281 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC446281 frs-bus:Director1 2023-04-01 2024-03-31 SC446281 frs-bus:Director1 2023-03-31 SC446281 frs-bus:Director1 2024-03-31 SC446281 frs-bus:Director2 2023-04-01 2024-03-31 SC446281 frs-countries:Scotland 2023-04-01 2024-03-31 SC446281 2022-03-31 SC446281 2023-03-31 SC446281 2022-04-01 2023-03-31 SC446281 frs-core:CurrentFinancialInstruments 2023-03-31 SC446281 frs-core:Non-currentFinancialInstruments 2023-03-31 SC446281 frs-core:ShareCapital 2023-03-31 SC446281 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC446281
Nexus Energy Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC446281
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,282 7,224
Tangible Assets 5 3,253 4,647
5,535 11,871
CURRENT ASSETS
Debtors 6 6,202 9,591
Cash at bank and in hand 15,328 17,912
21,530 27,503
Creditors: Amounts Falling Due Within One Year 7 (44,531 ) (50,962 )
NET CURRENT ASSETS (LIABILITIES) (23,001 ) (23,459 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,466 ) (11,588 )
Creditors: Amounts Falling Due After More Than One Year 8 (13,089 ) (22,557 )
NET LIABILITIES (30,555 ) (34,145 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (30,655 ) (34,245 )
SHAREHOLDERS' FUNDS (30,555) (34,145)
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For the year ending 31 March 2024 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
Mr J A McGrinder
Director
23 December 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Nexus Energy Solutions Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC446281 . The registered office is 272 Bath Street, Glasgow, G2 4JR.
2. Accounting Policies
2.1. 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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development costs. It is amortised to profit and loss account over its estimated economic life of 4 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 25% Straight Line
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
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4. Intangible Assets
Website development
£
Cost
As at 1 April 2023 33,456
As at 31 March 2024 33,456
Amortisation
As at 1 April 2023 26,232
Provided during the period 4,942
As at 31 March 2024 31,174
Net Book Value
As at 31 March 2024 2,282
As at 1 April 2023 7,224
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 5,800 6,410 12,210
As at 31 March 2024 5,800 6,410 12,210
Depreciation
As at 1 April 2023 2,656 4,907 7,563
Provided during the period 873 521 1,394
As at 31 March 2024 3,529 5,428 8,957
Net Book Value
As at 31 March 2024 2,271 982 3,253
As at 1 April 2023 3,144 1,503 4,647
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,202 9,438
Other debtors - 144
Directors' loan accounts - 9
6,202 9,591
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 15,653 13,499
Corporation tax 1,258 -
Other taxes and social security 15,145 12,343
VAT 12,045 11,746
Other creditors 270 13,374
Directors' loan accounts 160 -
44,531 50,962
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,089 22,557
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Jason McGrinder 9 41,759 41,928 - (169 )
The above loan is unsecured, interest free and repayable on demand.
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