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REGISTERED NUMBER: 03724461 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Nelgus Holdings Limited

Nelgus Holdings Limited (Registered number: 03724461)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nelgus Holdings Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: T Thomson





REGISTERED OFFICE: Hunters Gate Farm
Gosmore
Hitchin
Hertfordshire
SG4 7QP





REGISTERED NUMBER: 03724461 (England and Wales)





ACCOUNTANTS: D and E Accountancy Ltd
Tax Advisors and Accountants
2nd Floor, 2 Walsworth Road
Hitchin
Hertfordshire
SG4 9SP

Nelgus Holdings Limited (Registered number: 03724461)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 472 705
Investment property 5 1,835,000 1,835,000
1,835,472 1,835,705

CURRENT ASSETS
Debtors 6 266,952 27,474
Cash at bank 116,803 312,845
383,755 340,319
CREDITORS
Amounts falling due within one year 7 68,498 20,953
NET CURRENT ASSETS 315,257 319,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,150,729

2,155,071

PROVISIONS FOR LIABILITIES 8 146,536 146,580
NET ASSETS 2,004,193 2,008,491

CAPITAL AND RESERVES
Called up share capital 9 960 975
Fair value reserve 10 586,583 586,583
Retained earnings 10 1,416,650 1,420,933
SHAREHOLDERS' FUNDS 2,004,193 2,008,491

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 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.

Nelgus Holdings Limited (Registered number: 03724461)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 August 2024 and were signed by:





T Thomson - Director


Nelgus Holdings Limited (Registered number: 03724461)

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

1. STATUTORY INFORMATION

Nelgus Holdings 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
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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents rent and bank interest receivable, on an accruals basis, during the year.

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 reducing balance

Investment property
Investment properties are held for their investment potential and therefore carried at fair market value, where fair value can be determined without undue cost or effort.The surplus or deficit arising from the annual fair value adjustment is recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. 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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

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 measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Nelgus Holdings Limited (Registered number: 03724461)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 1,578
DEPRECIATION
At 1 April 2023 873
Charge for year 233
At 31 March 2024 1,106
NET BOOK VALUE
At 31 March 2024 472
At 31 March 2023 705

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,835,000
NET BOOK VALUE
At 31 March 2024 1,835,000
At 31 March 2023 1,835,000

Included in fair value of investment property is freehold land of £ 1,835,000 (2023 - £ 1,835,000 ) which is not depreciated.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 668,174
Valuation in 2022 203,000
Cost 963,826
1,835,000

Nelgus Holdings Limited (Registered number: 03724461)

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

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 963,826 963,826

Investment properties were valued on an informal basis on 31 March 2022 by the Director. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 27,474 27,474
Directors' current accounts 190,909 -
Tax 48,569 -
266,952 27,474

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors - 1,350
Tax 65,443 14,977
Directors' current accounts - 1,871
Accruals and deferred income 3,055 2,755
68,498 20,953

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 146,536 146,580

Deferred
tax
£   
Balance at 1 April 2023 146,580
Credit to Income Statement during year (44 )
Balance at 31 March 2024 146,536

Nelgus Holdings Limited (Registered number: 03724461)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,000 Ordinary £1 960 975

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 1,420,933 586,583 2,007,516
Profit for the year 61,005 61,005
Dividends (35,003 ) (35,003 )
Purchase of own shares (30,285 ) - (30,285 )
At 31 March 2024 1,416,650 586,583 2,003,233

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
T Thomson
Balance outstanding at start of year - -
Amounts advanced 190,909 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 190,909 -

At the year end the Director owed the company £190,909, shortly after the year end this was partly repaid, further repayments will be made as soon as possible. Interest at a commercial rate will be charged on any amounts outstanding.