2022-06-012023-05-312023-05-31false13409920NESTS DEVELOPMENT LTD2023-08-0968100iso4217:GBPxbrli:pure134099202022-06-01134099202023-05-31134099202022-06-012023-05-31134099202021-05-20134099202022-05-31134099202021-05-202022-05-3113409920bus:SmallEntities2022-06-012023-05-3113409920bus:AuditExempt-NoAccountantsReport2022-06-012023-05-3113409920bus:FullAccounts2022-06-012023-05-3113409920bus:PrivateLimitedCompanyLtd2022-06-012023-05-3113409920core:WithinOneYear2023-05-3113409920core:AfterOneYear2023-05-3113409920core:WithinOneYear2022-05-3113409920core:AfterOneYear2022-05-3113409920core:ShareCapital2023-05-3113409920core:SharePremium2023-05-3113409920core:RevaluationReserve2023-05-3113409920core:OtherReservesSubtotal2023-05-3113409920core:RetainedEarningsAccumulatedLosses2023-05-3113409920core:ShareCapital2022-05-3113409920core:SharePremium2022-05-3113409920core:RevaluationReserve2022-05-3113409920core:OtherReservesSubtotal2022-05-3113409920core:RetainedEarningsAccumulatedLosses2022-05-3113409920core:LandBuildings2023-05-3113409920core:PlantMachinery2023-05-3113409920core:Vehicles2023-05-3113409920core:FurnitureFittings2023-05-3113409920core:OfficeEquipment2023-05-3113409920core:NetGoodwill2023-05-3113409920core:IntangibleAssetsOtherThanGoodwill2023-05-3113409920core:ListedExchangeTraded2023-05-3113409920core:UnlistedNon-exchangeTraded2023-05-3113409920core:LandBuildings2022-05-3113409920core:PlantMachinery2022-05-3113409920core:Vehicles2022-05-3113409920core:FurnitureFittings2022-05-3113409920core:OfficeEquipment2022-05-3113409920core:NetGoodwill2022-05-3113409920core:IntangibleAssetsOtherThanGoodwill2022-05-3113409920core:ListedExchangeTraded2022-05-3113409920core:UnlistedNon-exchangeTraded2022-05-3113409920core:LandBuildings2022-06-012023-05-3113409920core:PlantMachinery2022-06-012023-05-3113409920core:Vehicles2022-06-012023-05-3113409920core:FurnitureFittings2022-06-012023-05-3113409920core:OfficeEquipment2022-06-012023-05-3113409920core:NetGoodwill2022-06-012023-05-3113409920core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3113409920core:ListedExchangeTraded2022-06-012023-05-3113409920core:UnlistedNon-exchangeTraded2022-06-012023-05-3113409920core:MoreThanFiveYears2022-06-012023-05-3113409920core:Non-currentFinancialInstruments2023-05-3113409920core:Non-currentFinancialInstruments2022-05-3113409920dpl:CostSales2022-06-012023-05-3113409920dpl:DistributionCosts2022-06-012023-05-3113409920core:LandBuildings2022-06-012023-05-3113409920core:PlantMachinery2022-06-012023-05-3113409920core:Vehicles2022-06-012023-05-3113409920core:FurnitureFittings2022-06-012023-05-3113409920core:OfficeEquipment2022-06-012023-05-3113409920dpl:AdministrativeExpenses2022-06-012023-05-3113409920core:NetGoodwill2022-06-012023-05-3113409920core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3113409920dpl:GroupUndertakings2022-06-012023-05-3113409920dpl:ParticipatingInterests2022-06-012023-05-3113409920dpl:GroupUndertakingscore:ListedExchangeTraded2022-06-012023-05-3113409920core:ListedExchangeTraded2022-06-012023-05-3113409920dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-06-012023-05-3113409920core:UnlistedNon-exchangeTraded2022-06-012023-05-3113409920dpl:CostSales2021-05-202022-05-3113409920dpl:DistributionCosts2021-05-202022-05-3113409920core:LandBuildings2021-05-202022-05-3113409920core:PlantMachinery2021-05-202022-05-3113409920core:Vehicles2021-05-202022-05-3113409920core:FurnitureFittings2021-05-202022-05-3113409920core:OfficeEquipment2021-05-202022-05-3113409920dpl:AdministrativeExpenses2021-05-202022-05-3113409920core:NetGoodwill2021-05-202022-05-3113409920core:IntangibleAssetsOtherThanGoodwill2021-05-202022-05-3113409920dpl:GroupUndertakings2021-05-202022-05-3113409920dpl:ParticipatingInterests2021-05-202022-05-3113409920dpl:GroupUndertakingscore:ListedExchangeTraded2021-05-202022-05-3113409920core:ListedExchangeTraded2021-05-202022-05-3113409920dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-05-202022-05-3113409920core:UnlistedNon-exchangeTraded2021-05-202022-05-3113409920core:NetGoodwill2023-05-3113409920core:IntangibleAssetsOtherThanGoodwill2023-05-3113409920core:LandBuildings2023-05-3113409920core:PlantMachinery2023-05-3113409920core:Vehicles2023-05-3113409920core:FurnitureFittings2023-05-3113409920core:OfficeEquipment2023-05-3113409920core:AfterOneYear2023-05-3113409920core:WithinOneYear2023-05-3113409920core:ListedExchangeTraded2023-05-3113409920core:UnlistedNon-exchangeTraded2023-05-3113409920core:ShareCapital2023-05-3113409920core:SharePremium2023-05-3113409920core:RevaluationReserve2023-05-3113409920core:OtherReservesSubtotal2023-05-3113409920core:RetainedEarningsAccumulatedLosses2023-05-3113409920core:NetGoodwill2022-05-3113409920core:IntangibleAssetsOtherThanGoodwill2022-05-3113409920core:LandBuildings2022-05-3113409920core:PlantMachinery2022-05-3113409920core:Vehicles2022-05-3113409920core:FurnitureFittings2022-05-3113409920core:OfficeEquipment2022-05-3113409920core:AfterOneYear2022-05-3113409920core:WithinOneYear2022-05-3113409920core:ListedExchangeTraded2022-05-3113409920core:UnlistedNon-exchangeTraded2022-05-3113409920core:ShareCapital2022-05-3113409920core:SharePremium2022-05-3113409920core:RevaluationReserve2022-05-3113409920core:OtherReservesSubtotal2022-05-3113409920core:RetainedEarningsAccumulatedLosses2022-05-3113409920core:NetGoodwill2021-05-2013409920core:IntangibleAssetsOtherThanGoodwill2021-05-2013409920core:LandBuildings2021-05-2013409920core:PlantMachinery2021-05-2013409920core:Vehicles2021-05-2013409920core:FurnitureFittings2021-05-2013409920core:OfficeEquipment2021-05-2013409920core:AfterOneYear2021-05-2013409920core:WithinOneYear2021-05-2013409920core:ListedExchangeTraded2021-05-2013409920core:UnlistedNon-exchangeTraded2021-05-2013409920core:ShareCapital2021-05-2013409920core:SharePremium2021-05-2013409920core:RevaluationReserve2021-05-2013409920core:OtherReservesSubtotal2021-05-2013409920core:RetainedEarningsAccumulatedLosses2021-05-2013409920core:AfterOneYear2022-06-012023-05-3113409920core:WithinOneYear2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:CostValuation2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-06-012023-05-3113409920core:Non-currentFinancialInstrumentscore:CostValuation2023-05-3113409920core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-05-3113409920core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-05-3113409920core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-05-3113409920core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-05-3113409920core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-05-3113409920core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-05-3113409920core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-05-3113409920core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-05-3113409920core:Non-currentFinancialInstrumentscore:CostValuation2022-05-3113409920core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-05-3113409920core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-05-3113409920core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-05-3113409920core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-05-3113409920core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-05-3113409920core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-05-3113409920core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-05-3113409920core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-05-3113409920bus:Director12022-06-012023-05-31

NESTS DEVELOPMENT LTD

Registered Number
13409920
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

NESTS DEVELOPMENT LTD
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

K D Sparrow

Registered Address

2nd Floor 115a Lapwing Lane
Manchester
M20 6UR

Registered Number

13409920 (England and Wales)
NESTS DEVELOPMENT LTD
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6127-
Investments710-
Investment property81,294,203352,344
1,294,340352,344
Current assets
Debtors93823,003
Cash at bank and on hand35266,034
39089,037
Creditors amounts falling due within one year10(189,344)(254,320)
Net current assets (liabilities)(188,954)(165,283)
Total assets less current liabilities1,105,386187,061
Creditors amounts falling due after one year11(1,020,275)(204,019)
Provisions for liabilities12(26,990)-
Net assets58,121(16,958)
Capital and reserves
Called up share capital100100
Profit and loss account58,021(17,058)
Shareholders' funds58,121(16,958)
The financial statements were approved and authorised for issue by the Director on 9 August 2023, and are signed on its behalf by:
K D Sparrow
Director
Registered Company No. 13409920
NESTS DEVELOPMENT LTD
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Investment property policy
Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in the fair value are recognised in profit or loss. No depreciation is provided in respect of investment properties.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
4.Critical estimates and judgements
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
5.Employee information

20232022
Average number of employees during the year11
6.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
Additions139139
At 31 May 23139139
Depreciation and impairment
Charge for year1212
At 31 May 231212
Net book value
At 31 May 23127127
At 31 May 22--
7.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions1010
At 31 May 231010
Net book value
At 31 May 231010
At 31 May 22--

Notes

1Investments in group undertakings and participating interests
8.Investment property

£
Fair value at 01 June 22352,344
Additions799,807
Fair value adjustments142,052
At 31 May 231,294,203
9.Debtors

2023

2022

££
Amounts owed by associates and joint ventures / participating interests38-
Other debtors-20,000
Prepayments and accrued income-3,003
Total3823,003
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,813-
Amounts owed to related parties137,58294,526
Other creditors49,949159,794
Total189,344254,320
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts1,020,275204,019
Total1,020,275204,019
12.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of going the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

2023

2022

££
Net deferred tax liability (asset)26,990-
Total26,990-