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Registered number: 12737414
Nestify Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Modus Accountants Ltd
Unit 1c Church Green
Witney
OX28 4YR
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 12737414
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 7,905 -
7,905 -
CURRENT ASSETS
Debtors 5 48,443 25,974
Cash at bank and in hand 2 3,280
48,445 29,254
Creditors: Amounts Falling Due Within One Year 6 (7,355 ) (2,627 )
NET CURRENT ASSETS (LIABILITIES) 41,090 26,627
TOTAL ASSETS LESS CURRENT LIABILITIES 48,995 26,627
Creditors: Amounts Falling Due After More Than One Year 7 (74,070 ) (38,472 )
NET LIABILITIES (25,075 ) (11,845 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Income Statement (25,076 ) (11,846 )
SHAREHOLDERS' FUNDS (25,075) (11,845)
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Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
A Holst
Director
10 September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nestify Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12737414 . The registered office is Unit 1c Eagle Industrial Estate, Church Green, Witney, Oxfordshire, OX28 4YR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.3. Taxation
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 statement of comprehensive income 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 is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Investments
Unlisted
£
Cost
As at 1 August 2022 -
Additions 7,905
As at 31 July 2023 7,905
Provision
As at 1 August 2022 -
As at 31 July 2023 -
Net Book Value
As at 31 July 2023 7,905
As at 1 August 2022 -
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5. Debtors
2023 2022
£ £
Due within one year
Other debtors 16,978 16,486
Other debtors (1) 6,458 1,696
Deferred tax current asset 5,871 2,767
Director's loan account 19,136 5,025
48,443 25,974
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1 ) 33
Corporation tax 6,458 1,696
Accruals and deferred income 898 898
7,355 2,627
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 44,191 38,472
Other creditors (1) 29,879 -
74,070 38,472
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2022 Amounts advanced Amounts repaid Amounts written off As at 31 July 2023
£ £ £ £ £
Mr Alexander Holst 5,025 14,111 - - 19,136
The above loan is unsecured and repayable on demand. Interest has been charged on the overdrawn balance at HMRCs advisory rate.
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