| Nextail Labs UK Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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The following principal accounting policies have been applied. |
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Going concern |
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The company is entirely dependent on its parent, Nextail Labs SLU, for its income. The Company’s Balance Sheet as at 31 December 2024 and 2023 shows that the company was clearly solvent with the ability to pay all its debts as they fell due. |
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The director can confirm that the company currently has sufficient resources to meet its debts as they fell due and he therefore considers that the company is a going concern and has prepared the financial statements on that basis. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. |
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Tangible fixed assets |
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Assets with a cost of less than £500 are expensed. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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| 1 |
Accounting policies (continued) |
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Foreign currency translation |
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The company's functional and presentational currency is UK Pound Sterling. |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Audit information and auditor's remuneration |
2024 |
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2023 |
| £ |
£ |
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Fees payable to the Company's auditor for the audit of the Company's annual financial statements totalled |
|
4,400 |
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4,400 |
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The audit report is unqualified. |
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Senior statutory auditor: |
Hassan Behcet |
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Firm: |
Duncan & Toplis Audit Limited |
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Date of audit report: |
15 April 2025 |
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| 3 |
Employees |
2024 |
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2023 |
| Number |
Number |
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Average number of persons employed by the company |
4 |
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7 |
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| 4 |
Debtors |
2024 |
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2023 |
| £ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
109,110 |
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200,941 |
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Other debtors |
704 |
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517 |
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109,814 |
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201,458 |
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| 5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
| £ |
£ |
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Trade creditors |
2,678 |
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1,546 |
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Taxation and social security costs |
9,917 |
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21,095 |
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Other creditors |
10,140 |
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86,711 |
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22,735 |
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109,352 |
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| 6 |
Share capital |
Nominal |
|
2024 |
|
2024 |
|
2023 |
| value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares |
€1 each |
|
100 |
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88 |
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88 |
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| 7 |
Related party transactions |
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The Company has taken advantage of the exemption under FRS 102 (1A) regarding the disclosure of transactions entered between two or more members of a group for wholly owned members of that group. |
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| 8 |
Controlling party |
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The company's immediate parent undertaking is Nextail Labs, SLU., a company incorporated in Spain. The company's ultimate parent undertaking is Nextail Labs, Inc., a company incorporated in Delaware, United States of America. |
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J Villalba Villalba has a controlling interest in Nextail Labs, Inc. |
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Nextail Labs, Inc. is registered at the following address: |
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3500 South DuPont Highway |
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Dover, Kent |
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Delaware 19901 |
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United States of America |
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| 9 |
Other information |
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Nextail Labs UK Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
23 Shackleton Court |
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2 Maritime Quay |
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London |
|
E14 3QF |