| NEXUM SOFTWARE LIMITED |
| Registered number: |
05123845 |
| Balance Sheet |
| as at 31 March 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
3,213 |
|
|
459 |
|
| Current assets |
| Debtors |
4 |
|
268,192 |
|
|
376,571 |
| Cash at bank and in hand |
|
|
1,724,477 |
|
|
1,516,021 |
|
|
|
1,992,669 |
|
|
1,892,592 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,086,246) |
|
|
(1,149,104) |
|
| Net current assets |
|
|
|
906,423 |
|
|
743,488 |
|
| Total assets less current liabilities |
|
|
|
909,636 |
|
|
743,947 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
- |
|
|
(50,000) |
|
| Net assets |
|
|
|
909,636 |
|
|
693,947 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
160 |
|
|
160 |
| Capital redemption reserve |
|
|
|
40 |
|
|
40 |
| Profit and loss account |
|
|
|
909,436 |
|
|
693,747 |
|
| Shareholders' funds |
|
|
|
909,636 |
|
|
693,947 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| S R Ganatra |
| Director |
| Approved by the board on 2 December 2022 |
|
| NEXUM SOFTWARE LIMITED |
| Notes to the Accounts |
| for the year ended 31 March 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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. |
|
|
Intangible fixed assets |
|
Software development costs - Computer software development expenditure is normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty and is amortised in relation to revenue from such projects. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Equipment, fixtures and fittings |
over 4 years |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
10 |
|
10 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Equipment, fix. and fittings |
| £ |
|
Cost |
|
At 1 April 2021 |
43,420 |
|
Additions |
4,039 |
|
At 31 March 2022 |
47,459 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2021 |
42,961 |
|
Charge for the year |
1,285 |
|
At 31 March 2022 |
44,246 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
3,213 |
|
At 31 March 2021 |
459 |
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade debtors |
93,100 |
|
216,701 |
|
Other debtors and prepayments |
175,092 |
|
159,870 |
|
|
|
|
|
|
268,192 |
|
376,571 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Trade creditors |
219,670 |
|
210,552 |
|
Corporation tax |
73,405 |
|
26,351 |
|
Other taxes and social security costs |
86,573 |
|
143,735 |
|
Deferred income |
581,378 |
|
619,057 |
|
Other creditors and accruals |
125,220 |
|
149,409 |
|
|
|
|
|
|
1,086,246 |
|
1,149,104 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
- |
|
50,000 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2022 |
|
2021 |
| £ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
- |
|
10,000 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Contingent liabilities |
|
|
The company's ultimate holding company is Nexum (Group) Limited, incorporated in England. |
|
|
| 9 |
Other information |
|
|
NEXUM SOFTWARE LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
8 Swift Centre |
|
41 Imperial Way |
|
Croydon |
|
Surrey |
|
CR0 4RL |
