ACCOUNTS - Final Accounts preparation

Registered number: 10917763

NEXUS MUTUAL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2025

NEXUS MUTUAL LIMITED

REGISTERED NUMBER: 10917763

BALANCE SHEET

AS AT 31 AUGUST 2025

		2025		2024
Note		£		£


Current assets
Stocks	5	32,438		32,438
		32,438		32,438
Creditors: amounts falling due within one year	7	-		(441,586)
Net current assets/(liabilities)			32,438		(409,148)
Total assets less current liabilities			32,438		(409,148)

Net assets/(liabilities)			32,438		(409,148)

Capital and reserves
Other reserves	(16,768,949)	(17,210,535)
Profit and loss account	16,801,387	16,801,387
	32,438	(409,148)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 May 2026.

H Karp

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

NEXUS MUTUAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	General information

Nexus Mutual Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.

2.Accounting policies

2.1

General information and basis of accounting

The principal accounting policies are summarised below. They have all been applied consistently throughout thefinancial year and to the preceding financial year, unless otherwise stated.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The Company has net assets of £32,438 (2024: net liabilities of £409,148). The improvement in net position reflects a capital contribution during the year. After making enquiries, the directors are satisfied that the Company has adequate resources to continue in operational existence for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Page 2

NEXUS MUTUAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Computer equipment

Years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

Stock comprises cryptocurrencies held to fulfil the Company's Minimum Capital Requirement (MCR), which represents the level of liquid assets required to cover all potential claims at any given point in time. The MCR is based on the market demand for cover as well as investor risk appetite, and is a constantly fluctuating requirement.

All cryptocurrencies held as stock are held with the intention of allowing the mutual to operate, and exists solely to pay out potential claims.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 5 (2024 - 5).

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NEXUS MUTUAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 September 2024	800
	At 31 August 2025	800
	Depreciation
	At 1 September 2024	800
	At 31 August 2025	800
	Net book value
	At 31 August 2025	-
	At 31 August 2024	-

5.	Stocks
		2025	2024
		£	£

Stocks	32,438	32,438
	32,438	32,438

6.	Reserves
	Other reserves Comprises members' contributions to the mutual. Surplus and deficit account Comprises current year and accumulated surplus and deficits.

Page 4

NEXUS MUTUAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other creditors	-	441,586
	-	441,586

8.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of themembers is liable to contribute an amount not exceeding £1.00 towards the assets of the company in the event of liquidation.

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