IRIS Accounts Production v24.1.9.2 05834832 director 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058348322022-12-31058348322023-12-31058348322023-01-012023-12-31058348322021-12-31058348322022-01-012022-12-31058348322022-12-3105834832ns15:EnglandWales2023-01-012023-12-3105834832ns14:PoundSterling2023-01-012023-12-3105834832ns10:Director12023-01-012023-12-3105834832ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105834832ns10:SmallEntities2023-01-012023-12-3105834832ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3105834832ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105834832ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105834832ns10:FullAccounts2023-01-012023-12-3105834832ns10:OrdinaryShareClass12023-01-012023-12-3105834832ns10:CompanySecretary12023-01-012023-12-3105834832ns10:RegisteredOffice2023-01-012023-12-3105834832ns5:CurrentFinancialInstruments2023-12-3105834832ns5:CurrentFinancialInstruments2022-12-3105834832ns5:Non-currentFinancialInstruments2023-12-3105834832ns5:Non-currentFinancialInstruments2022-12-3105834832ns5:ShareCapital2023-12-3105834832ns5:ShareCapital2022-12-3105834832ns5:RetainedEarningsAccumulatedLosses2023-12-3105834832ns5:RetainedEarningsAccumulatedLosses2022-12-3105834832ns5:FurnitureFittings2023-01-012023-12-3105834832ns5:ComputerEquipment2023-01-012023-12-3105834832ns5:LandBuildings2022-12-3105834832ns5:FurnitureFittings2022-12-3105834832ns5:ComputerEquipment2022-12-3105834832ns5:LandBuildings2023-01-012023-12-3105834832ns5:LandBuildings2023-12-3105834832ns5:FurnitureFittings2023-12-3105834832ns5:ComputerEquipment2023-12-3105834832ns5:LandBuildings2022-12-3105834832ns5:FurnitureFittings2022-12-3105834832ns5:ComputerEquipment2022-12-3105834832ns5:CostValuation2022-12-3105834832ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3105834832ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3105834832ns5:Secured2023-12-3105834832ns5:Secured2022-12-3105834832ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 05834832 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

NIMS ASSOCIATES LIMITED

NIMS ASSOCIATES LIMITED (REGISTERED NUMBER: 05834832)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

NIMS ASSOCIATES LIMITED

Company Information
for the year ended 31 December 2023







Director: N C Ruparellia





Secretary: Mrs L Ruparellia





Registered office: Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA





Registered number: 05834832 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

NIMS ASSOCIATES LIMITED (REGISTERED NUMBER: 05834832)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 205,320 206,559
Investments 5 24,990 24,990
230,310 231,549

Current assets
Debtors 6 8,502 -
Investments 7 620 1,000
Cash at bank 57,201 60,356
66,323 61,356
Creditors
Amounts falling due within one year 8 101,234 100,807
Net current liabilities (34,911 ) (39,451 )
Total assets less current liabilities 195,399 192,098

Creditors
Amounts falling due after more than one
year

9

160,999

160,999
Net assets 34,400 31,099

Capital and reserves
Called up share capital 11 2 2
Retained earnings 34,398 31,097
Shareholders' funds 34,400 31,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 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 director and authorised for issue on 24 July 2024 and were signed by:



N C Ruparellia - Director


NIMS ASSOCIATES LIMITED (REGISTERED NUMBER: 05834832)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Nims Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

NIMS ASSOCIATES LIMITED (REGISTERED NUMBER: 05834832)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

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.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 3 ) .

4. Tangible fixed assets
Fixtures
Freehold and Computer
property fittings equipment Totals
£ £ £ £
Cost
At 1 January 2023 203,375 2,078 8,628 214,081
Additions - - 837 837
At 31 December 2023 203,375 2,078 9,465 214,918
Depreciation
At 1 January 2023 - 1,421 6,101 7,522
Charge for year - 164 1,912 2,076
At 31 December 2023 - 1,585 8,013 9,598
Net book value
At 31 December 2023 203,375 493 1,452 205,320
At 31 December 2022 203,375 657 2,527 206,559

5. Fixed asset investments
Other
investments
£
Cost
At 1 January 2023
and 31 December 2023 24,990
Net book value
At 31 December 2023 24,990
At 31 December 2022 24,990

6. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 8,502 -

7. Current asset investments
2023 2022
£ £
Listed investments 620 1,000

NIMS ASSOCIATES LIMITED (REGISTERED NUMBER: 05834832)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. Creditors: amounts falling due within one year
2023 2022
£ £
Tax 1,209 738
Other creditors - 9,298
Directors' current accounts 73,425 80,822
Accruals and deferred income 26,600 9,949
101,234 100,807

9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans more 5 yrs non-inst 160,999 160,999

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 160,999 160,999

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 160,999 160,999

The bank loan is secured on the freehold property.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2

Accountants' Report to the Director
on the Unaudited Financial Statements of
Nims Associates Limited


The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nims Associates Limited for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Nims Associates Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nims Associates Limited and state those matters that we have agreed to state to the director of Nims Associates Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nims Associates Limited and its director for our work or for this report.

It is your duty to ensure that Nims Associates 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 profit of Nims Associates Limited. You consider that Nims Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nims Associates 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.






Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA


25 July 2024