Nexus Managed Solutions Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03400307 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Nexus Managed Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

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

4

2,044

786,754

Investments

5

60

60

Investment property

6

1,319,064

-

1,321,168

786,814

CURRENT ASSETS

Stocks

7

-

329,613

Debtors

8

1,372,900

1,369,717

Cash at bank

229,630

92,136

1,602,530

1,791,466

CREDITORS

Amounts falling due within one year

9

854,207

1,055,259

NET CURRENT ASSETS

748,323

736,207

TOTAL ASSETS LESS CURRENT LIABILITIES

2,069,491

1,523,021

CREDITORS

Amounts falling due after more than one year

10

468,797

260,420

NET ASSETS

1,600,694

1,262,601

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,600,692

1,262,599

SHAREHOLDERS' FUNDS

1,600,694

1,262,601

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 12 April 2018 and were signed by:

P Chanaka-Dabare - Director

1.	STATUTORY INFORMATION

Nexus Managed Solutions Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

5% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair

value is recognised in profit or loss.

Stocks

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

moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2016

949,412

11,414

5,727

966,553

Reclassification/transfer

(949,412

)

-

-

(949,412

)

At 31 March 2017

-

11,414

5,727

17,141

DEPRECIATION

At 1 April 2016

165,113

10,980

3,706

179,799

Charge for year

-

108

303

411

Reclassification/transfer

(165,113

)

-

-

(165,113

)

At 31 March 2017

-

11,088

4,009

15,097

NET BOOK VALUE

At 31 March 2017

-

326

1,718

2,044

At 31 March 2016

784,299

434

2,021

786,754

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2016

and 31 March 2017

60

NET BOOK VALUE

At 31 March 2017

60

At 31 March 2016

60

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

369,652

Reclassification/transfer

949,412

At 31 March 2017

1,319,064

NET BOOK VALUE

At 31 March 2017

1,319,064

7.

STOCKS

31.3.17

31.3.16

£

£

Stocks

-

329,613

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

700,972

537,949

Other debtors

671,928

831,768

1,372,900

1,369,717

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

653,675

715,267

Taxation and social security

150,574

132,222

Other creditors

49,958

207,770

854,207

1,055,259

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans

468,797

260,420

11.	RELATED PARTY DISCLOSURES

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is PD Chanaka.