Registered number
07258908
Nexus Components Limited
Abbreviated Accounts
31 May 2014
Nexus Components Limited
Registered number: 07258908
Abbreviated Balance Sheet
as at 31 May 2014
Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 14,000 16,000
Tangible assets 3 11,373 12,887
25,373 28,887
Current assets
Stocks 40,690 23,332
Debtors 74,408 36,132
Cash at bank and in hand 2,925 -
118,023 59,464
Creditors: amounts falling due within one year (81,775) (49,470)
Net current assets 36,248 9,994
Total assets less current liabilities 61,621 38,881
Creditors: amounts falling due after more than one year (24,326) (10,216)
Net assets 37,295 28,665
Capital and reserves
Called up share capital 4 16,000 16,000
Profit and loss account 21,295 12,665
Shareholders' funds 37,295 28,665
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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mr P Tomlinson
Director
Approved by the board on 4 November 2014
Nexus Components Limited
Notes to the Abbreviated Accounts
for the year ended 31 May 2014
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Stocks
Stock is valued at the lower of cost and net realisable value.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
2 Intangible fixed assets £
Cost
At 1 June 2013 20,000
At 31 May 2014 20,000
Amortisation
At 1 June 2013 4,000
Provided during the year 2,000
At 31 May 2014 6,000
Net book value
At 31 May 2014 14,000
At 31 May 2013 16,000
3 Tangible fixed assets £
Cost
At 1 June 2013 17,837
Additions 493
At 31 May 2014 18,330
Depreciation
At 1 June 2013 4,950
Charge for the year 2,007
At 31 May 2014 6,957
Net book value
At 31 May 2014 11,373
At 31 May 2013 12,887
4 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 16,000 16,000 16,000
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