1 1 Nexus Construction Limited 04222346 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is property development and sales Digita Accounts Production Advanced 6.30.9574.0 true true 04222346 2023-06-01 2024-05-31 04222346 2024-05-31 04222346 bus:OrdinaryShareClass1 2024-05-31 04222346 core:CurrentFinancialInstruments 2024-05-31 04222346 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 04222346 bus:SmallEntities 2023-06-01 2024-05-31 04222346 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04222346 bus:FilletedAccounts 2023-06-01 2024-05-31 04222346 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04222346 bus:RegisteredOffice 2023-06-01 2024-05-31 04222346 bus:Director1 2023-06-01 2024-05-31 04222346 bus:Director2 2023-06-01 2024-05-31 04222346 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 04222346 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04222346 bus:Agent1 2023-06-01 2024-05-31 04222346 core:OfficeEquipment 2023-06-01 2024-05-31 04222346 countries:AllCountries 2023-06-01 2024-05-31 04222346 2022-06-01 2023-05-31 04222346 2023-05-31 04222346 bus:OrdinaryShareClass1 2023-05-31 04222346 core:CurrentFinancialInstruments 2023-05-31 04222346 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 04222346

Nexus Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Nexus Construction Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Nexus Construction Limited

Company Information

Directors

Mr R Horton

Mr M J Horton

Registered office

Warren Farm
Breakspear Road North
Harefield
Middlesex
UB9 6LZ

Accountants

MG Group (Professional Services) Ltd
Chartered Accountants166 College Road
Harrow
Middlesex
HA1 1BH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Nexus Construction Limited
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nexus Construction Limited for the year ended 31 May 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Nexus Construction Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Nexus Construction Limited and state those matters that we have agreed to state to the Board of Directors of Nexus Construction Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nexus Construction Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Nexus Construction Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Nexus Construction Limited. You consider that Nexus Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Nexus Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MG Group (Professional Services) Ltd
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

25 April 2025

 

Nexus Construction Limited

(Registration number: 04222346)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

40,370

-

Cash at bank and in hand

 

432

86,551

 

40,802

86,551

Creditors: Amounts falling due within one year

5

(28,827)

(74,513)

Net assets

 

11,975

12,038

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

11,875

11,938

Shareholders' funds

 

11,975

12,038

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 April 2025 and signed on its behalf by:
 

.........................................
Mr R Horton
Director

 

Nexus Construction Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Warren Farm
Breakspear Road North
Harefield
Middlesex
UB9 6LZ
United Kingdom

These financial statements were authorised for issue by the Board on 25 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Depreciation

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Nexus Construction Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Debtors

Current

2024
£

2023
£

Other debtors

40,370

-

 

40,370

-

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

26,127

-

Accruals and deferred income

2,700

1,800

Other creditors

-

72,713

28,827

74,513

 

Nexus Construction Limited

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

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

7

Related party transactions

During the year, the company conducted the following related party transactions with its directors:

Directors

The company repaid director loans totaling £9,523. It also extended loans of £77,433 to the directors, carrying a 2.5% interest rate.

As of the balance sheet date, the directors owed the company £14,243 (2023: £72,713 owed to the directors).