NEXUS NOTES LIMITED


Directors	CALDER, Alex
	COLLINS, Xavier Noble
	IVES-TOWNEND, Andrew


Registered Address	Flat 4 38 Powis Square
	London
	W11 2AY


Registered Number	12235893 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		812		-
			812		-
Current assets
Debtors	4	21,333		21,699
Cash at bank and on hand		104,799		27,948
		126,132		49,647
Creditors amounts falling due within one year	5	(15,830)		(49,331)
Net current assets (liabilities)			110,302		316
Total assets less current liabilities			111,114		316
Creditors amounts falling due after one year	6		-		(5,954)
Net assets			111,114		(5,638)
Capital and reserves
Called up share capital			112		112
Share premium			316,927		316,990
Other reserves			69,472		-
Profit and loss account			(275,397)		(322,740)
Shareholders' funds			111,114		(5,638)

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 4 September 2026, and are signed on its behalf by:

IVES-TOWNEND, Andrew
Director
Registered Company No. 12235893

NEXUS NOTES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	At the time of approving the financial statements, having taken into consideration the current and forecasted performance and position of the company, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Going concern

At the time of approving the financial statements, having taken into consideration the current and forecasted performance and position of the company, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	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.

	Share-based payments
	The share-based payment has been accounted for as an equity-settled transaction in accordance with FRS 102 Section 26. The fair value of the options at the grant date is recognised as an expense over the vesting period, with a corresponding credit to equity.

	Foreign currency translation
	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.

Foreign currency translation

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.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	4

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		0

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
Additions	999	999
At 31 December 25	999	999
Depreciation and impairment
Charge for year	187	187
At 31 December 25	187	187
Net book value
At 31 December 25	812	812
At 31 December 24	-	-

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	21,000	20,700
Prepayments and accrued income	333	999
Total	21,333	21,699

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	-	2,848
Bank borrowings and overdrafts	4,904	4,741
Taxation and social security	9,859	7,691
Other creditors	1,067	2,928
Accrued liabilities and deferred income	-	31,123
Total	15,830	49,331


	During the year the Company received a loan of £480 from a Director (2024: £2,329). At the balance sheet date, the Company owed £480 to the Director and this amount is included within other creditors. The loan is unsecured, interest free and repayable on demand. As at 31 December 2025, the Company has a bank loan of £4,904 due within one year (2024: £5,954 due after one year see Note 6), which attracts interest at 2.5% per annum, is unsecured and is repayable by 21 September 2026.

During the year the Company received a loan of £480 from a Director (2024: £2,329). At the balance sheet date, the Company owed £480 to the Director and this amount is included within other creditors. The loan is unsecured, interest free and repayable on demand.

As at 31 December 2025, the Company has a bank loan of £4,904 due within one year (2024: £5,954 due after one year see Note 6), which attracts interest at 2.5% per annum, is unsecured and is repayable by 21 September 2026.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	5,954
Total	-	5,954

7.	Further information regarding the company's financial position
	The company identified share-based payment arrangements during the current which existed in prior periods. The impact on prior year profit and net assets was assessed and determined not to be material. Accordingly, the related share-based payment expense, including amounts related to prior periods, has been recognised in full in the current year. The company established an equity-settled share option scheme to incentivise key employees. Under the plan, 13,136 options with an exercise price of £6.075 were granted during the year over the Company’s Ordinary shares, with a vesting period of 4 years All options granted historically and during the year have a fair value of £27.000027, based on the 2020 funding round. The number and weighted average exercise price (WAEP) of the shares were as follows: 2026 Number 2026 WAEP Outstanding at the beginning of the year 58 1.000 Granted during the year 13,136 6.075 Exercised during the year - - Cancelled during the year (29) 1.000 Outstanding at the end of the year 13,165 6.064 Exercisable at the end of the year 29 1.000 The value of options vested in the year was £69,472 (2024: £nil) and this was charged to the profit and loss. No share options were exercised, forfeited or expired during the year. The total carrying amount is £69,472 (2024: £nil) recognised in the share-based payment reserve within equity. The total number of share options outstanding at the year end is 13,165 (2024: nil).

Further information regarding the company's financial position

The company identified share-based payment arrangements during the current which existed in prior periods. The impact on prior year profit and net assets was assessed and determined not to be material. Accordingly, the related share-based payment expense, including amounts related to prior periods, has been recognised in full in the current year. 

The company established an equity-settled share option scheme to incentivise key employees. Under the plan, 13,136 options with an exercise price of £6.075 were granted during the year over the Company’s Ordinary shares, with a vesting period of 4 years 

All options granted historically and during the year have a fair value of £27.000027, based on the 2020 funding round.  

The number and weighted average exercise price (WAEP) of the shares were as follows:

                                                                                                  2026 Number                     2026 WAEP
Outstanding at the beginning of the year                                  58                                       1.000
Granted during the year                                                            13,136                                6.075
Exercised during the year                                                          -                                          -
Cancelled during the year                                                         (29)                                     1.000
Outstanding at the end of the year                                            13,165                                6.064
Exercisable at the end of the year                                             29                                       1.000 

The value of options vested in the year was £69,472 (2024: £nil) and this was charged to the profit and loss. No share options were exercised, forfeited or expired during the year. The total carrying amount is £69,472 (2024: £nil) recognised in the share-based payment reserve within equity. The total number of share options outstanding at the year end is 13,165 (2024: nil).