nexGworx Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 13352877

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		35,190		70,380
Tangible Assets	5		64,448		75,971

			99,638		146,351
CURRENT ASSETS
Debtors	6	101,208		12,768
Cash at bank and in hand		42,048		56,916

		143,256		69,684
Creditors: Amounts Falling Due Within One Year	7	(163,770 )		(172,669 )

NET CURRENT ASSETS (LIABILITIES)			(20,514 )		(102,985 )

TOTAL ASSETS LESS CURRENT LIABILITIES			79,124		43,366

NET ASSETS			79,124		43,366

CAPITAL AND RESERVES
Called up share capital	8		200,000		200,000
Income Statement			(120,876 )		(156,634 )

SHAREHOLDERS' FUNDS			79,124		43,366

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nexGworx Limited

Statement of Financial Position (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Alan White

Director

6 November 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

nexGworx Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13352877 . The registered office is 105 High Street, Worcester, WR1 2JG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are the business set up costs. These costs are amortised to the income statement over the estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Communication Equipment

Over 5-10 Years

2.5. Government Grant

Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.

All grants in the income statement are recognised when all conditions for receipt have been complied with.

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nexGworx Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 4)

4. Intangible Assets

	Business set up fees
	£
Cost
As at 1 April 2024	175,950

As at 31 March 2025	175,950

Amortisation
As at 1 April 2024	105,570
Provided during the period	35,190

As at 31 March 2025	140,760

Net Book Value
As at 31 March 2025	35,190

As at 1 April 2024	70,380

5. Tangible Assets

	Communication Equipment
	£
Cost
As at 1 April 2024	112,505
Additions	818

As at 31 March 2025	113,323

Depreciation
As at 1 April 2024	36,534
Provided during the period	12,341

As at 31 March 2025	48,875

Net Book Value
As at 31 March 2025	64,448

As at 1 April 2024	75,971

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nexGworx Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	63,675	7,200
Amounts owed by group undertakings	36,248	(1,834)
Other debtors	1,285	7,402

	101,208	12,768

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	79,972	48,733
Other creditors	82,333	123,936
Taxation and social security	1,465	-

	163,770	172,669

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200,000	200,000

9. Related Party Transactions

nexGworx Limited is a subsidiary company of Malvern Hills Science Park Limited. During the year, nexGworx Limited surrendered tax losses worth £38,082 to this parent company.

At the period end, Malvern Hills Science Park Limited owed nexGworx Limited £36,248 (2024 : nexGworx Limited owed Malvern Hills Science Park Limited £1,834).

Transactions with Advalus Limited, which owns 25% of the shares of nexGworx Limited, and which is a supplier of nexGworx Limited, were conducted at market value.

10. Parent Undertaking and Controlling Party

The company's immediate and parent undertaking is Malvern Hills Science Park Limited which owns 75% of the shares of nexGworx Limited. Malvern Hills Science Park Limited is incorporated in England. Copies of the group accounts may be obtained from the secretary, Malvern Hills Science Park, Geraldine Road, Malvern, Worcestershire, WR14 3SZ.

The ultimate controlling parties are:

Malvern Hill District Council

Worcestershire County Council

Malvern Hill District Council and Worcestershire County Council exercise control through rights detailed in the articles of association. These rights include access to preference dividends, distribution of reserves, appointment of directors, and changes of share owndership.

Herefordshire & Worcestershire Chamber Of Commerce controls 82% of the voting rights of Malvern Hills Science Park Limited.

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