Nexus Managed Solutions Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03400307 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Nexus Managed Solutions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

PD Chanaka

SECRETARY:

D A Dabara

REGISTERED OFFICE:

3rd Floor , Scottish Mutual House

27-29 North Street

Hornchurch

Essex

RM11 1RS

REGISTERED NUMBER:

03400307 (England and Wales)

ACCOUNTANTS:

Bruce Allen LLP

Chartered Certified Accountants

3rd Floor

Scottish Mutual House

27-29 North Street

Hornchurch

Essex

RM11 1RS

FIXED ASSETS

Tangible assets

2

786,754

806,244

Investments

3

50

50

786,804

806,294

CURRENT ASSETS

Stocks

329,613

-

Debtors

1,369,717

1,088,744

Cash at bank

92,136

281,069

1,791,466

1,369,813

CREDITORS

Amounts falling due within one year

1,055,249

810,921

NET CURRENT ASSETS

736,217

558,892

TOTAL ASSETS LESS CURRENT LIABILITIES

1,523,021

1,365,186

CREDITORS

Amounts falling due after more than one year

260,420

260,418

NET ASSETS

1,262,601

1,104,768

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

1,262,599

1,104,766

SHAREHOLDERS' FUNDS

1,262,601

1,104,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 March 2017 and were signed by:

P Chanaka-Dabare - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

966,553

DEPRECIATION

At 1 April 2015

160,309

Charge for year

19,490

At 31 March 2016

179,799

NET BOOK VALUE

At 31 March 2016

786,754

At 31 March 2015

806,244

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

50

NET BOOK VALUE

At 31 March 2016

50

At 31 March 2015

50

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

2

Ordinary

1

2

2

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £24,906 were paid to the director .