Registered number
07258908
Nexus Components Limited
Abbreviated Accounts
31 May 2015
Nexus Components Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Nexus Components Limited for the year ended 31 May 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Nexus Components Limited for the year ended 31 May 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.
Reid Moffat
Chartered Accountants
15 Niffany Gardens
Skipton
North Yorkshire
BD23 1SZ
21 February 2016
Nexus Components Limited
Registered number: 07258908
Abbreviated Balance Sheet
as at 31 May 2015
Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 12,000 14,000
Tangible assets 3 9,926 11,373
21,926 25,373
Current assets
Stocks 77,597 40,690
Debtors 101,315 74,408
Cash at bank and in hand 3,935 2,925
182,847 118,023
Creditors: amounts falling due within one year (165,178) (81,775)
Net current assets 17,669 36,248
Total assets less current liabilities 39,595 61,621
Creditors: amounts falling due after more than one year (1,125) (24,326)
Net assets 38,470 37,295
Capital and reserves
Called up share capital 4 16,000 16,000
Profit and loss account 22,470 21,295
Shareholders' funds 38,470 37,295
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 21 February 2016
Nexus Components Limited
Notes to the Abbreviated Accounts
for the year ended 31 May 2015
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
Fixtures and fittings 20% 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 2014 20,000
At 31 May 2015 20,000
Amortisation
At 1 June 2014 6,000
Provided during the year 2,000
At 31 May 2015 8,000
Net book value
At 31 May 2015 12,000
At 31 May 2014 14,000
3 Tangible fixed assets £
Cost
At 1 June 2014 18,330
Additions 1,034
At 31 May 2015 19,364
Depreciation
At 1 June 2014 6,957
Charge for the year 2,481
At 31 May 2015 9,438
Net book value
At 31 May 2015 9,926
At 31 May 2014 11,373
4 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 16,000 16,000 16,000
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