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REGISTERED NUMBER: 11360354 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Nexus Mechanical Ltd

Nexus Mechanical Ltd (Registered number: 11360354)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nexus Mechanical Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: G Scarborough





SECRETARY: Mrs M C Scarborough





REGISTERED OFFICE: 571a London Road
Cheam
Sutton
SM3 9AE





REGISTERED NUMBER: 11360354 (England and Wales)





ACCOUNTANTS: CSL Partnership Limited
Chartered Certified Accountants
238 Station Road
Addlestone
Surrey
KT15 2PS

Nexus Mechanical Ltd (Registered number: 11360354)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 96,972 69,002

CURRENT ASSETS
Debtors 5 222,925 214,488
Cash at bank 42,178 183,484
265,103 397,972
CREDITORS
Amounts falling due within one year 6 (339,233 ) (449,862 )
NET CURRENT LIABILITIES (74,130 ) (51,890 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,842 17,112

CREDITORS
Amounts falling due after more than one
year

7

(47,839

)

(29,239

)

PROVISIONS FOR LIABILITIES (23,960 ) (17,251 )
NET LIABILITIES (48,957 ) (29,378 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (48,958 ) (29,379 )
(48,957 ) (29,378 )

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

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

The director acknowledges his 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.

Nexus Mechanical Ltd (Registered number: 11360354)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





G Scarborough - Director


Nexus Mechanical Ltd (Registered number: 11360354)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Revenue is measured at fair value and represents revenues receivable under contracts net of value added tax. Where contractual obligations have been partially performed at the balance sheet date, revenue is recognised to the extent that the company has obtained the right to consideration through its performance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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

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.

Nexus Mechanical Ltd (Registered number: 11360354)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 13 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 1,545 2,711 6,347
Additions - 1,853 141
Disposals - - -
At 31 May 2024 1,545 4,564 6,488
DEPRECIATION
At 1 June 2023 52 1,441 4,031
Charge for year 61 948 978
Eliminated on disposal - - -
At 31 May 2024 113 2,389 5,009
NET BOOK VALUE
At 31 May 2024 1,432 2,175 1,479
At 31 May 2023 1,493 1,270 2,316

Nexus Mechanical Ltd (Registered number: 11360354)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 159,038 6,011 175,652
Additions 58,279 6,282 66,555
Disposals (22,394 ) - (22,394 )
At 31 May 2024 194,923 12,293 219,813
DEPRECIATION
At 1 June 2023 95,465 5,661 106,650
Charge for year 26,510 1,130 29,627
Eliminated on disposal (13,436 ) - (13,436 )
At 31 May 2024 108,539 6,791 122,841
NET BOOK VALUE
At 31 May 2024 86,384 5,502 96,972
At 31 May 2023 63,573 350 69,002

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 96,465 132,461
Amounts owed by group undertakings 86,020 44,938
Other debtors 7,236 9,662
Tax 7,699 -
VAT 21,205 20,504
Prepayments 4,300 6,923
222,925 214,488

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 21,613 13,866
Trade creditors 116,299 225,076
Amounts owed to group undertakings 123,253 94,966
Tax - 3,565
Social security and other taxes 10,539 38,287
Other creditors 10,673 11,124
Directors' current accounts 249 4,335
Deferred income 47,307 46,043
Accrued expenses 9,300 12,600
339,233 449,862

Nexus Mechanical Ltd (Registered number: 11360354)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 47,839 29,239