Nexus Design & Print Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03810828 (England and Wales)

NEXUS DESIGN & PRINT LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 AUGUST 2015 TO 31 MARCH 2016

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Nexus Design & Print Limited for the period ended 31 March 2016 which comprise the Profit

and Loss Account, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Nexus Design & Print Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nexus Design & Print Limited and state those matters that we have agreed to state to the director of Nexus Design & Print Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Nexus Design & Print Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Nexus Design & Print Limited. You consider that Nexus Design & Print Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Nexus Design & Print Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Breeze & Associates Ltd.

Chartered Accountants

5 Cornfield Terrace

Eastbourne

East Sussex

BN21 4NN

Date: .............................................

Page

Chartered Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

FIXED ASSETS

Tangible assets

2

25,940

16,092

CURRENT ASSETS

Stocks

6,064

25,817

Debtors

126,490

202,902

Cash at bank and in hand

12,902

18,717

145,456

247,436

CREDITORS

Amounts falling due within one year

138,667

164,250

NET CURRENT ASSETS

6,789

83,186

TOTAL ASSETS LESS CURRENT LIABILITIES

32,729

99,278

CREDITORS

Amounts falling due after more than one
year

(7,752

)

(4,953

)

PROVISIONS FOR LIABILITIES

(2,523

)

(722

)

NET ASSETS

22,454

93,603

CAPITAL AND RESERVES

Called up share capital

3

7,500

Profit and loss account

14,954

86,103

SHAREHOLDERS' FUNDS

22,454

93,603

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

The members have not required the company to obtain an audit of its financial statements for the period 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 18 April 2016 and were signed by:

S D Wadman - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as

a small company.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on cost

Stocks

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

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date to the extent that it is material.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide design and print services.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in

exchange for its performance under these contracts. It is measured at the fair value of the right to

consideration, which represents amounts chargeable to clients, including expenses and disbursements but

excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the

partial performance of the contractual obligations. For such contracts the amount of revenue reflects the

accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients

is included in debtors and payments on account in excess of the relevant amount of revenue are included in

creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent

event occurs.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

163,714

Additions

15,916

Disposals

(134,000

)

At 31 March 2016

45,630

DEPRECIATION

At 1 August 2015

147,622

Charge for period

6,068

Eliminated on disposal

(134,000

)

At 31 March 2016

19,690

NET BOOK VALUE

At 31 March 2016

25,940

At 31 July 2015

16,092

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

7,500

Ordinary

£1

7,500

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the period the director withdrew amounts totalling £1,000 (2015 - £562). The balance at the period end

due from the director was £337 (2015 - (£663)).