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NEXTGEAR LTD

Registered Number
09890979
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

NEXTGEAR LTD
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

CONSTABLE, Mark John

Registered Address

The Old Granary
Dunton Road
Basildon
SS15 4DB

Registered Number

09890979 (England and Wales)
NEXTGEAR LTD
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors32036,610
Cash at bank and on hand7,0613,572
7,26410,182
Creditors amounts falling due within one year4(6,054)(3,075)
Net current assets (liabilities)1,2107,107
Total assets less current liabilities1,2107,107
Creditors amounts falling due after one year5(21,750)(24,750)
Net assets(20,540)(17,643)
Capital and reserves
Called up share capital11
Profit and loss account(20,541)(17,644)
Shareholders' funds(20,540)(17,643)
The financial statements were approved and authorised for issue by the Director on 14 February 2025, and are signed on its behalf by:
CONSTABLE, Mark John
Director
Registered Company No. 09890979
NEXTGEAR LTD
Notes to the Financial Statements
for the year ended 28 February 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.Average number of employees

20232022
Average number of employees during the year11
3.Debtors: amounts due within one year

2023

2022

££
Other debtors2036,610
Total2036,610
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
4.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts3,0003,000
Taxation and social security1,279-
Other creditors1,77575
Total6,0543,075
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts21,75024,750
Total21,75024,750
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.