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Registration number: 05548347

Nexus Wine Collections Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Nexus Wine Collections Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Nexus Wine Collections Limited

Company Information

Directors

Mr M Bevan

Mr P Headlam

Registered office

1 The Green
Marlborough
Wilts
SN8 1AL

Accountants

EJBC Chartered Accountants
2 Toomers Wharf
Canal Walk
Newbury
Berkshire
RG14 1DY

 

Nexus Wine Collections Limited

(Registration number: 05548347)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

77,031

59,002

Tangible assets

4

6,661

5,924

 

83,692

64,926

Current assets

 

Debtors

143,072

395,110

Cash at bank and in hand

 

184,985

6,046

 

328,057

401,156

Creditors: Amounts falling due within one year

(313,949)

(395,135)

Net current assets

 

14,108

6,021

Net assets

 

97,800

70,947

Capital and reserves

 

Called up share capital

5

200

200

Retained earnings

97,600

70,747

Shareholders' funds

 

97,800

70,947

For the financial year ending 31 December 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 July 2025 and signed on its behalf by:
 

.........................................
Mr M Bevan
Director

 

Nexus Wine Collections Limited

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

1

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

The financial statements have been prepared on a going concern basis.

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.

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.

 

Nexus Wine Collections Limited

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

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant & Machinery

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software

20% 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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Nexus Wine Collections Limited

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

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Nexus Wine Collections Limited

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

3

Intangible assets

Software Costs
£

Total
£

Cost or valuation

At 1 January 2024

202,056

202,056

Additions acquired separately

42,886

42,886

At 31 December 2024

244,942

244,942

Amortisation

At 1 January 2024

143,054

143,054

Amortisation charge

24,857

24,857

At 31 December 2024

167,911

167,911

Carrying amount

At 31 December 2024

77,031

77,031

At 31 December 2023

59,002

59,002

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

52,423

52,423

Additions

2,349

2,349

At 31 December 2024

54,772

54,772

Depreciation

At 1 January 2024

46,499

46,499

Charge for the year

1,612

1,612

At 31 December 2024

48,111

48,111

Carrying amount

At 31 December 2024

6,661

6,661

At 31 December 2023

5,924

5,924

5

Share capital

Allotted, called up and fully paid shares

 

Nexus Wine Collections Limited

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

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

200

200

200

200