Nexus Cooling Ltd - Accounts to registrar (filleted) - small 18.2
Nexus Cooling Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| FOR |
| NEXUS COOLING LTD |
| NEXUS COOLING LTD (REGISTERED NUMBER: 06943164) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| Page |
| Balance sheet | 1 |
| Notes to the financial statements | 2 |
| NEXUS COOLING LTD (REGISTERED NUMBER: 06943164) |
| BALANCE SHEET |
| 30 NOVEMBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets/(liabilities) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 7 | ( |
) |
| Provisions for liabilities | 8 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 9 |
| Retained earnings |
| Shareholders' funds |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| NEXUS COOLING LTD (REGISTERED NUMBER: 06943164) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 1. | Statutory information |
| Nexus Cooling Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06943164. The registered office is 7 & 8 Church Street, Wimborne, BH21 1JH and business address is Bayside Business Centre, 1 Sovereign Business Park, Willis Way, Poole BH15 3TB. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents sales of brewery cooling products net of VAT. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Government grants |
| Using the accrual basis government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
| Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| NEXUS COOLING LTD (REGISTERED NUMBER: 06943164) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 2. | Accounting policies - continued |
| Financial instruments |
| Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
| At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 December 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 November 2020 |
| Depreciation |
| At 1 December 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 November 2020 |
| Net book value |
| At 30 November 2020 |
| At 30 November 2019 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| Cost |
| Additions |
| At 30 November 2020 |
| Depreciation |
| Charge for year |
| At 30 November 2020 |
| Net book value |
| At 30 November 2020 |
| NEXUS COOLING LTD (REGISTERED NUMBER: 06943164) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 5. | Debtors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 7,957 | - |
| Prepayments |
| 6. | Creditors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Pension liability | 305 | 46 |
| VAT | 48,133 | 37,824 |
| Directors' current accounts | - | 21,985 |
| Accruals and deferred income |
| 7. | Creditors: amounts falling due after more than one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 5,212 | - |
| 8. | Provisions for liabilities |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 6,424 | 3,915 |
| Deferred |
| tax |
| £ |
| Balance at 1 December 2019 |
| Provided during year |
| Balance at 30 November 2020 |
| NEXUS COOLING LTD (REGISTERED NUMBER: 06943164) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2020 |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary A | £1 | 75 | 75 |
| Ordinary B | £1 | 25 | 25 |
| 100 | 100 |
| 10. | Director's advances, credits and guarantees |
| The following advances and credits to a director subsisted during the years ended 30 November 2020 and 30 November 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| At the balance sheet date the Director, Mr I Hill owed the company £7,957 (2019: £NIL). The amount outstanding at the balance sheet date was repaid in full within 9 months of the year end. |
| 11. | Ultimate controlling party |
| The company is controlled by the director, Mr I Hill, who owns 100% of the issued share capital. |