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Registration number: 06391644

Nextgen Web Solutions Pvt Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Nextgen Web Solutions Pvt Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 9

 

Nextgen Web Solutions Pvt Ltd

Company Information

Director

Mr Charitha Nanayakkara

Company secretary

Mrs Indrani Nanayakkara

Registered office

1 Marshall Close
Chaldon
Caterham
Surrey
CR3 5DS

Accountants

AIMS Accountants For Business
Chartered Certified AccountantsHarewood House
2-6 Rochdale Road
Middleton
Manchester
M24 6DP

 

Nextgen Web Solutions Pvt Ltd

(Registration number: 06391644)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

45,040

40,797

Current assets

 

Debtors

6

881,574

764,265

Investments

7

1,008,582

680,706

Cash at bank and in hand

 

163,270

104,251

 

2,053,426

1,549,222

Creditors: Amounts falling due within one year

8

(431,074)

(477,981)

Net current assets

 

1,622,352

1,071,241

Total assets less current liabilities

 

1,667,392

1,112,038

Creditors: Amounts falling due after more than one year

8

(10,000)

(10,000)

Net assets

 

1,657,392

1,102,038

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

1,657,192

1,101,838

Shareholders' funds

 

1,657,392

1,102,038

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 17 June 2025
 

.........................................
Mr Charitha Nanayakkara
Director

 

Nextgen Web Solutions Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
1 Marshall Close
Chaldon
Caterham
Surrey
CR3 5DS

These financial statements were authorised for issue by the director on 17 June 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Nextgen Web Solutions Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

15% Reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value including post balance sheet events recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Nextgen Web Solutions Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 4).

 

Nextgen Web Solutions Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

7,948

7,199

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

113,830

113,830

Additions

12,191

12,191

At 30 September 2024

126,021

126,021

Depreciation

At 1 October 2023

73,033

73,033

Charge for the year

7,948

7,948

At 30 September 2024

80,981

80,981

Carrying amount

At 30 September 2024

45,040

45,040

At 30 September 2023

40,797

40,797

6

Debtors

Current

2024
£

2023
£

Amounts owed by related parties

880,420

763,310

Other debtors

1,154

955

 

Nextgen Web Solutions Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Financial asset investments

2024
£

2023
£

Other investments

1,008,582

680,706

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

6,022

68,286

Taxation and social security

 

98,226

63,550

Other creditors

 

326,826

346,145

 

431,074

477,981

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

10,000

10,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

       
 

Nextgen Web Solutions Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

10,000

10,000

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

6,022

68,286

11

Dividends

2024

2023

£

£

Final dividend of £75.00 (2023 - £71.625) per ordinary share

15,000

14,325

Interim dividend of £364.125 (2023 - £417.50) per ordinary share

72,825

83,500

87,825

97,825

 

 
 

Nextgen Web Solutions Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

12

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

At 30 September 2024
£

Mr Charitha Nanayakkara

Directors loan account

(344,025)

19,582

(324,443)

2023

At 1 October 2022
£

Repayments by director
£

At 30 September 2023
£

Mr Charitha Nanayakkara

Directors loan account

(267,974)

(76,051)

(344,025)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570