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Registered Number: 07749468
England and Wales

 

 

 

NEXTGEN ACCOUNTANTS LIMITED



Report of the Director and Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Khalil AHMAD
Registered Number 07749468
Registered Office Office 5046
321323 High Road
Chedwell Heath
RM6 6AX
Accountants Nextgen Accountants Limited
Office 5046
321-323 High Road
Chadwell Heath
RM6 6AX
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 August 2024.
Principal activities
Principal activity of the company during the financial year was of bookkeeping and accounting services.
Director
The director who served the company throughout the year was as follows:
Khalil AHMAD
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions
Dividends
The director recommended a final dividend of £x,xxx (2023: £4,000). 

On behalf of the board.


----------------------------------
Khalil AHMAD
Director

Date approved: 31 May 2025
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.


Nextgen Accountants Limited
31 August 2024



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

Nextgen Accountants Limited

Office 5046
321-323 High Road
Chadwell Heath
RM6 6AX
31 May 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 123,762    66,438 
Cost of sales (14,237)   (34,728)
Gross profit 109,525    31,710 
Administrative expenses (108,120)   (26,432)
Other operating income 2 9,185    2,009 
Operating profit 3 10,590    7,287 
Interest payable and similar charges 5 (220)   (1,347)
Profit/(Loss) on ordinary activities before taxation 10,370    5,940 
Tax on profit on ordinary activities 6 (1,965)   (1,105)
Profit/(Loss) for the financial year 8,405    4,835 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 7 1,047    1,544 
1,047    1,544 
Current assets      
Debtors 8 23,157    27,598 
Cash at bank and in hand 6,224    1,676 
29,381    29,274 
Creditors: amount falling due within one year 9 (24,351)   (18,146)
Net current assets 5,030    11,128 
 
Total assets less current liabilities 6,077    12,672 
Net assets 6,077    12,672 
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account 11 5,977    12,572 
Shareholders' funds 6,077    12,672 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the director on 31 May 2025 and were signed by:


-------------------------------
Khalil AHMAD
Director
5
General Information
Nextgen Accountants Limited is a private company, limited by shares, registered in England and Wales, registration number 07749468, registration address Office 5046, 321323 High Road, Chedwell Heath, RM6 6AX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Other operating income

2024
£
  2023
£
Flat rate VAT surplus 9,185    2,009 
9,185    2,009 

3.

Operating profit/(loss)

2024
£
  2023
£
The operating profit is stated after charging:

 
Depreciation of tangible fixed assets 496    515 

4.

Average number of employees

Average number of employees during the year was 3 (2023 : 2).
5.

Interest payable and similar charges

2024
£
  2023
£
Bank & Other Loan Interest 220    1,347 
220    1,347 

6.

Tax on profit on ordinary activities

2024
£
  2023
£
UK Corporation Tax 1,965    1,105 
1,965    1,105 

7.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 September 2023 5,260    5,763    11,023 
Additions    
Disposals    
At 31 August 2024 5,260    5,763    11,023 
Depreciation
At 01 September 2023 5,039    4,440    9,479 
Charge for year 56    441    497 
On disposals    
At 31 August 2024 5,095    4,881    9,976 
Net book values
Closing balance as at 31 August 2024 165    882    1,047 
Opening balance as at 01 September 2023 221    1,323    1,544 


8.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   1,832 
Other Debtors 20,500    20,500 
Directors' Current Accounts 2,657    5,266 
23,157    27,598 

9.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   212 
Bank Loans & Overdrafts 6,722    10,563 
Corporation Tax 1,965    1,105 
PAYE & Social Security 1,633    36 
Wages & Salaries Control Account 7,826    1,689 
VAT 6,205    4,541 
24,351    18,146 

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

11.

Profit and loss account

  2024
£
Balance at 01 September 2023 12,572 
Profit for the year 8,405 
Equity Dividends Paid (15,000)
Balance at 31 August 2024 5,977 

6
  2024
£
  2023
£
Turnover          
Sales   123,762      66,438 
  123,762      66,438 
Cost of sales          
Direct Wages & Salaries 7,647      24,250 
Commissions Payable 290      150 
Sub-Contract Cost 6,300      10,328 
  (14,237)     (34,728)
Gross profit   109,525      31,710 
Administrative expenses          
Wages & Salaries 97,178      14,915 
Staff Hiring and Training 6,298      5,902 
Rent 614      1,025 
Bank Charges 84      84 
Depreciation Charge: Fixtures & Fittings 55      74 
Depreciation Charge: Computer Equipment 441      441 
General Insurance 118      102 
Computer Software Expenses 913      897 
Stationery & Postage 120      560 
Telephone, Fax & Internet 384      404 
Sundry Expenses 342      502 
Vehicle running costs 560      1,080 
Website hosting 90      55 
Subscriptions 332      283 
Practising certificate 591      108 
  (108,120)     (26,432)
Other operating income          
Flat rate VAT surplus 9,185      2,009 
  9,185      2,009 
Operating profit   10,590      7,287 
Interest payable and similar charges          
Bank & Other Loan Interest 220      1,347 
  (220)     (1,347)
Profit/(Loss) on ordinary activities before taxation   10,370      5,940 
Tax on profit on ordinary activities          
UK Corporation Tax 1,965      1,105 
  (1,965)     (1,105)
Profit/(Loss) for the financial year   8,405      4,835 
 
7