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COMPANY REGISTRATION NUMBER: 05320883
Nexus The Educators Connection Limited
Filleted Unaudited Financial Statements
31 August 2024
Nexus The Educators Connection Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
8,214
9,954
Current assets
Stocks
117,100
156,082
Debtors
6
712,365
1,080,256
Cash at bank and in hand
3,873
12,032
---------
------------
833,338
1,248,370
Creditors: amounts falling due within one year
7
940,313
1,345,662
---------
------------
Net current liabilities
106,975
97,292
---------
--------
Total assets less current liabilities
( 98,761)
( 87,338)
Creditors: amounts falling due after more than one year
8
147,787
162,641
---------
---------
Net liabilities
( 246,548)
( 249,979)
---------
---------
Capital and reserves
Called up share capital
3,000
3,000
Profit and loss account
( 249,548)
( 252,979)
---------
---------
Shareholders deficit
( 246,548)
( 249,979)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Nexus The Educators Connection Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 19 May 2025 , and are signed on behalf of the board by:
C O Jones
Director
Company registration number: 05320883
Nexus The Educators Connection Limited
Accounting Policies
Year ended 31 August 2024
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover represents the value, net of Value Added Tax, of goods sold and services provided to customers.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
10% straight line
Motor vehicles
-
23% straight line
Office equipment
-
2 to 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
The company contributes to a self-administered pension scheme on behalf of the directors, on a money purchase basis. The company also contributes to pension policies of selected employees on a group personal pension basis and all other employees in accordance with auto enrolment regulations. In all cases, contributions paid by the company are charged to the profit and loss account in the year in which they are accrued.
Nexus The Educators Connection Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Nexus House, Lakeside Business Park, South Cerney, Cirencester, Gloucester, GL7 5XL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 21 ).
4. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
564,644
---------
Amortisation
At 1 September 2023 and 31 August 2024
564,644
---------
Carrying amount
At 31 August 2024
---------
At 31 August 2023
---------
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 September 2023
101,674
92,840
194,514
Disposals
( 67,279)
( 37,671)
( 104,950)
---------
--------
---------
At 31 August 2024
34,395
55,169
89,564
---------
--------
---------
Depreciation
At 1 September 2023
95,141
89,419
184,560
Charge for the year
770
970
1,740
Disposals
( 67,279)
( 37,671)
( 104,950)
---------
--------
---------
At 31 August 2024
28,632
52,718
81,350
---------
--------
---------
Carrying amount
At 31 August 2024
5,763
2,451
8,214
---------
--------
---------
At 31 August 2023
6,533
3,421
9,954
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
34,801
652,204
Other debtors
677,564
428,052
---------
------------
712,365
1,080,256
---------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
89,657
89,665
Trade creditors
340,693
535,310
Social security and other taxes
213,889
216,242
Other creditors
296,074
504,445
---------
------------
940,313
1,345,662
---------
------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
147,787
162,641
---------
---------