Nexus Team Limited

	Page
Company Information	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Statement of Income and Retained Earnings	7
Balance Sheet	8
Notes to the Financial Statements	9—11

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Nexus Team Limited

Company No. 07094943

Directors' Report For The Year Ended 31 December 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2025.

Principal Activity

The company's principal activity continues to be that of a small supermarket.

Review of the Business

The directors have considered the appropriateness of the going concern basis in preparing the financial statements.

The company ceased trading within the year. The directors intend to apply for the company to be struck off the Register of Companies pursuant to section 1003 of the Companies Act 2006. Accordingly, the directors do not consider that it is appropriate to prepare the financial statements on a going concern basis.

These financial statements have therefore been prepared on a basis other than going concern. Assets have been stated at their estimated realisable values and liabilities have been recognised at the amounts expected to be settled. Any resulting adjustments have been reflected in the financial statements.

The directors consider this basis of preparation to be appropriate in the circumstances.

Directors

The directors who held office during the year were as follows:

Mr Craig Turner

Mr Barry Tennent

Mr Frederic Davis

Mr Kevin Dunham

Delwin Pallister

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Nexus Team Limited

Directors' Report (continued)

For The Year Ended 31 December 2025

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Small Company Rules

This report has 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.

On behalf of the board

Mr Kevin Dunham

Director

28/04/2026

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Independent Auditor's Report

to the Members of

Nexus Team Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Nexus Team Limited for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 10 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

We draw attention to the directors report, which states that the company ceased trading within the year and the directors intend to apply for voluntary strike-off under section 1003 of the Companies Act 2006. Accordingly, the financial statements have been prepared on a basis other than going concern.

Our opinion is not modified in respect of this matter

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit, or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

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Independent Auditor's Report (continued)

to the Members of

Nexus Team Limited

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with the applicable laws and regulations.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.To address the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify any unusual or unexpected relationships;
Tested journal entries to identify unusual transactions;

Assessed whether judgements and assumptions made in determining the accounting estimates were indicative ofpotential bias; and
Investigated the rationale behind significant or unusual transactions
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures whichincluded, but were not limited to:

Agreeing financial statement disclosures to underlying supporting documentation

Enquiring of management as to actual and potential litigation and claims;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

...CONTINUED

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Independent Auditor's Report (continued)

to the Members of

Nexus Team Limited

Auditor's Responsibilities for the Audit of the Financial Statements - continued

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We define materiality as the magnitude of misstatement in the Financial Statements that makes it probable that the economic decisions of a reasonably knowledgeable person would be changed or influenced. We use materiality both in planning and in the scope of our audit work and in evaluating the results of our work.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significantaudit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Martin Cox (Senior Statutory Auditor)

for and on behalf of mca Banbury Ltd , Statutory Auditor

28/04/2026

mca Banbury Ltd

Chartered Accountants and Registered Auditors

The American Barns, Banbury Road

Lighthorne, Warwick

Warwickshire

CV35 0AE

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Nexus Team Limited

Statement of Income and Retained Earnings

For The Year Ended 31 December 2025

Statement of Income and Retained Earnings

		2025	2024
	Notes	£	£
TURNOVER		1,367,801	2,111,274
Cost of sales		(1,083,097 )	(1,594,680 )

GROSS PROFIT		284,704	516,594

Administrative expenses		(238,936 )	(300,306 )
Other operating income		11,947	12,656

OPERATING PROFIT		57,715	228,944
Loss on disposal of fixed assets		(67,797 )	(2,048 )

(LOSS)/PROFIT BEFORE TAXATION		(10,082 )	226,896
Tax on (Loss)/profit		-	-

(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR		(10,082 )	226,896
RETAINED EARNINGS
As at 1 January 2025		321,419	434,950
Dividends paid		(176,047)	(340,427)
As at 31 December 2025		135,290	321,419

The notes on pages 9 to 11 form part of these financial statements.

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Nexus Team Limited

Balance Sheet

As At 31 December 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		116,075

			-		116,075
CURRENT ASSETS
Stocks	5	-		204,089
Debtors	6	11,341		25,310
Cash at bank and in hand		127,821		116,653

		139,162		346,052
Creditors: Amounts Falling Due Within One Year	7	(3,870 )		(140,706 )

NET CURRENT ASSETS (LIABILITIES)			135,292		205,346

TOTAL ASSETS LESS CURRENT LIABILITIES			135,292		321,421

NET ASSETS			135,292		321,421

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			135,290		321,419

SHAREHOLDERS' FUNDS			135,292		321,421

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

On behalf of the board

Mr Kevin Dunham

Director

28/04/2026

The notes on pages 9 to 11 form part of these financial statements.

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Nexus Team Limited

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Nexus Team Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07094943 . The registered office is The Old School Witton Lane, Little Plumstead, Norwich, Norfolk, NR13 5DL.

The presentation currency of the financial statements is the Pound Sterling (£).

All monetary amounts are rounded to the nearest pound.

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.

Nexus Team Limited is a member of a public benefit group.

These financial statements are prepared in Sterling, which is the functional currency of the company. All the monetary amounts are rounded to the nearest £.

2.2. Going Concern Disclosure

The financial statements have not been prepared on a going concern basis. The company ceased trading within the year and the directors intend to apply for voluntary strike-off under section 1003 of the Companies Act 2006.

Accordingly, assets are stated at their estimated realisable values and provision has been made for any liabilities arising on cessation of trade.

2.3. 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.

2.4. 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:

Leasehold	10% Straight Line
Plant & Machinery	20% Straight Line

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Nexus Team Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Financial Instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables or receivables; are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be paid or received monetary amounts are rounded to the nearest £.

2.8. Taxation

Corporation tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 5)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 January 2025	150,724	107,103	257,827
Additions	-	645	645
Disposals	(150,724 )	(107,748 )	(258,472 )

As at 31 December 2025	-	-	-

...CONTINUED

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Nexus Team Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Depreciation
As at 1 January 2025	73,153	68,599	141,752
Provided during the period	20,271	8,573	28,844
Disposals	(93,424 )	(77,172 )	(170,596 )

As at 31 December 2025	-	-	-

Net Book Value
As at 31 December 2025	-	-	-

As at 1 January 2025	77,571	38,504	116,075

5. Stocks

	2025	2024
	£	£
Stock	-	204,089

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	7,341	18,310
Other debtors	4,000	7,000

	11,341	25,310

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,326	110,454
Other creditors	1,293	22,713
Taxation and social security	1,251	7,539

	3,870	140,706

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

9. Related Party Transactions

The company has taken advantage of the exemption available under FRS 102 section 33 'Related Party Disclosures' not to disclose details of its transactions with related parties. The exemption is available as the transactions are with other members of the group.

10. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. Ultimate Controlling Party

The company's ultimate controlling party is Medemshamstede Education Trust a charity registered in England with charity number 1071840, and address The Old School Witton Lane, Little Plumstead, Norwich, Norfolk, England, NR13 5DL

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