Company Registration No. 12120794 (England and Wales)
Nestings JQ Limited
Unaudited accounts
for the year ended 31 March 2023
Nestings JQ Limited
Unaudited accounts
Contents
Nestings JQ Limited
Company Information
for the year ended 31 March 2023
Company Number
12120794 (England and Wales)
Registered Office
The Jointworks
62-64 Albion Street
Jewellery Quarter
Birmingham
B1 3EA
Accountants
R M Accountancy Services Ltd
The Old Post Office
137-139 Long Street
Dordon
Staffordshire
B78 1SH
Nestings JQ Limited
Statement of financial position
as at 31 March 2023
Tangible assets
13,891
7,034
Investment property
2,355,596
2,194,872
Cash at bank and in hand
43,089
62,242
Creditors: amounts falling due within one year
(110,259)
(209,896)
Net current (liabilities)/assets
(60,208)
6,050
Total assets less current liabilities
2,309,279
2,207,956
Creditors: amounts falling due after more than one year
(1,464,385)
(1,332,551)
Net assets
844,894
875,405
Called up share capital
300
300
Profit and loss account
844,594
875,105
Shareholders' funds
844,894
875,405
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 September 2024 and were signed on its behalf by
N Vora
Director
Company Registration No. 12120794
Nestings JQ Limited
Notes to the Accounts
for the year ended 31 March 2023
Nestings JQ Limited is a private company, limited by shares, registered in England and Wales, registration number 12120794. The registered office is The Jointworks, 62-64 Albion Street, Jewellery Quarter, Birmingham, B1 3EA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over 20 years
Computer equipment
Over four years
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Nestings JQ Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Computer equipment
Fair value at 1 April 2022
2,194,872
At 31 March 2023
2,355,596
Amounts falling due within one year
Accrued income and prepayments
2,505
-
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
41,868
79,935
Trade creditors
44,806
101,888
Taxes and social security
-
26,542
Loans from directors
297
250
Nestings JQ Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
730,581
740,693
Amounts owed to group undertakings and other participating interests
350,000
350,000
Deferred income
383,804
241,858
9
Transactions with related parties
During the year the company charged Rent totalling £36,000 (2022 : £Nil) to a related company.
During the year the company incurred Marketing fees totalling £28,071 (2022 : £Nil) from a related company.
During the year the company wrote back loans to a related company totalling (£50,000) (2022: £50,000).
The balance between the parties at the balance sheet date is in creditors for £8,967 (2022:£Nil).
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).