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REGISTERED NUMBER: 10704626 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Nidus Properties Limited

Nidus Properties Limited (Registered number: 10704626)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Report of the Accountant 7

Nidus Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Sargent
Dr C L Sargent





SECRETARY: G J Owen





REGISTERED OFFICE: Caldy
Egg Lane
Claines
Worcester
Worcestershire
WR3 7SB





REGISTERED NUMBER: 10704626 (England and Wales)





ACCOUNTANT: Giles Owen Chartered Accountant
1 Croft Lane
Temple Grafton
Alcester
Warwickshire
B49 6PA

Nidus Properties Limited (Registered number: 10704626)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,226 523
Investment property 5 6,245,039 6,432,952
6,248,265 6,433,475

CURRENT ASSETS
Debtors 6 147,716 126,643
Cash at bank 294,242 331,814
441,958 458,457
CREDITORS
Amounts falling due within one year 7 5,517,988 5,843,461
NET CURRENT LIABILITIES (5,076,030 ) (5,385,004 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,172,235

1,048,471

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,172,234 1,048,470
1,172,235 1,048,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:



P Sargent - Director


Nidus Properties Limited (Registered number: 10704626)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Nidus Properties 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
The nature of the company's operations and its principal activity was that of investing in property.
The company's financial statements have been prepared in compliance with FRS 102 "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" Section 1A and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis as modified by the revaluation of land and buildings held as investment property.

The financial statements comprise the unaudited financial statements of the company up to 31 March each year, and are stated in pounds, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on 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.

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the income statement. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve


Nidus Properties Limited (Registered number: 10704626)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current tax is the amount of UK corporation tax payable in respect of the taxable profit for the year or prior
years calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions.
Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits.

Except for deferred tax relating to investment property, all other deferred tax is measured using tax rates and
laws that have been enacted or substantively enacted at the reporting date and are expected to apply to the
reversal of the timing difference. Deferred tax relating to investment property that is measured at fair value is
calculated using the tax rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Critical accounting judgements and estimates
In preparing the financial statements the directors are required to make a number of accounting judgements and make estimates and assumptions concerning the future. The following judgements and estimates are deemed significant in the context of these financial statements:

i) Investment properties are recognised at their fair value. The company's investment properties were revalued on 31 March 2024 at fair value, determined by the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Nidus Properties Limited (Registered number: 10704626)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 4,294
Additions 4,315
At 31 March 2024 8,609
DEPRECIATION
At 1 April 2023 3,771
Charge for year 1,612
At 31 March 2024 5,383
NET BOOK VALUE
At 31 March 2024 3,226
At 31 March 2023 523

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 6,432,952
Revaluations (187,913 )
At 31 March 2024 6,245,039
NET BOOK VALUE
At 31 March 2024 6,245,039
At 31 March 2023 6,432,952

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 (187,913 )
Cost 6,432,952
6,245,039

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 143,977 122,817
Other debtors 3,739 3,826
147,716 126,643

Nidus Properties Limited (Registered number: 10704626)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 3,946 593
Amounts owed to group undertakings 5,274,999 5,624,999
Taxation and social security 130,082 93,156
Other creditors 108,961 124,713
5,517,988 5,843,461

8. LEASING AGREEMENTS
The company holds ten investment properties as disclosed in the notes to the financial statements. These are let under non cancellable leases which have remaining terms of 1 month to 9 years.

Minimum lease payments receivable under non-cancellable operating leases fall due as follows:

31.03.24 31.03.23
£ £
Within one year 356,266 438,810
Between one and five years 911,583 1,091,820
In more than five years 363,492 436,665
1,631,341 1,994,295

Nidus Properties Limited

Report of the Accountant to the Directors of
Nidus Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.






Giles Owen Chartered Accountant
1 Croft Lane
Temple Grafton
Alcester
Warwickshire
B49 6PA


9 April 2024