2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2024 - FRS102_2024 11,192 9,531 415 9,946 1,246 1,661 xbrli:pure xbrli:shares iso4217:GBP 08767655 2023-12-01 2024-11-30 08767655 2024-11-30 08767655 2023-11-30 08767655 2022-12-01 2023-11-30 08767655 2023-11-30 08767655 2022-11-30 08767655 core:PlantMachinery 2023-12-01 2024-11-30 08767655 bus:Director1 2023-12-01 2024-11-30 08767655 core:PlantMachinery 2023-11-30 08767655 core:PlantMachinery 2024-11-30 08767655 core:WithinOneYear 2024-11-30 08767655 core:WithinOneYear 2023-11-30 08767655 core:AfterOneYear 2024-11-30 08767655 core:AfterOneYear 2023-11-30 08767655 core:ShareCapital 2024-11-30 08767655 core:ShareCapital 2023-11-30 08767655 core:RetainedEarningsAccumulatedLosses 2024-11-30 08767655 core:RetainedEarningsAccumulatedLosses 2023-11-30 08767655 core:PlantMachinery 2023-11-30 08767655 bus:SmallEntities 2023-12-01 2024-11-30 08767655 bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 08767655 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 08767655 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 08767655 bus:FullAccounts 2023-12-01 2024-11-30
COMPANY REGISTRATION NUMBER: 08767655
Nexus Steel Trading Limited
Filleted Unaudited Financial Statements
30 November 2024
Nexus Steel Trading Limited
Financial Statements
Year ended 30th November 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Nexus Steel Trading Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,246
1,661
Current assets
Debtors
6
15,065
17,698
Cash at bank and in hand
1,525
421
--------
--------
16,590
18,119
Creditors: amounts falling due within one year
7
15,651
14,701
--------
--------
Net current assets
939
3,418
-------
-------
Total assets less current liabilities
2,185
5,079
Creditors: amounts falling due after more than one year
8
1,580
4,654
Provisions
Taxation including deferred tax
237
316
-------
-------
Net assets
368
109
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
268
9
----
----
Shareholders funds
368
109
----
----
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 30th November 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 Steel Trading Limited
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 10 July 2025 , and are signed on behalf of the board by:
MR D J Caine
Director
Company registration number: 08767655
Nexus Steel Trading Limited
Notes to the Financial Statements
Year ended 30th November 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 6 Sweet Water Court, Lostock Gralam, Northwich, CW9 7FG, England.
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. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Plant and machinery
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1st December 2023 and 30th November 2024
11,192
11,192
--------
--------
Depreciation
At 1st December 2023
9,531
9,531
Charge for the year
415
415
--------
--------
At 30th November 2024
9,946
9,946
--------
--------
Carrying amount
At 30th November 2024
1,246
1,246
--------
--------
At 30th November 2023
1,661
1,661
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
9,500
14,490
Other debtors
5,565
3,208
--------
--------
15,065
17,698
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,090
3,038
Social security and other taxes
11,781
10,883
Other creditors
780
780
--------
--------
15,651
14,701
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,580
4,654
-------
-------
9. Director's advances, credits and guarantees
Included within other debtors above is a balance of £1,986 (2023: £3,083) owed by the director.
10. Related party transactions
The company was under the control of Mr D Caine throughout the current period. Mr D Caine is the managing director and majority shareholder.