REGISTERED NUMBER: |
Nimbus Securities Limited |
Financial Statements |
for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
Nimbus Securities Limited |
Financial Statements |
for the Year Ended 31 December 2023 |
Nimbus Securities Limited (Registered number: 01049674) |
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 |
Nimbus Securities Limited |
Company Information |
for the year ended 31 December 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
Nimbus Securities Limited (Registered number: 01049674) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Stocks | 4 |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Creditors |
Amounts falling due after more than one year |
6 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Share premium |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Nimbus Securities Limited (Registered number: 01049674) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
Nimbus Securities Limited is a |
2. | Accounting policies |
Accounting convention |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and is and will be supported by the parent company, fellow group subsidiaries. Hence, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Stock and work in progress |
Stock and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. |
The carrying amount, has been based on a value determined by the directors, in conjunction with advice taken from a suitably qualified land valuer. This new assessment of selling price, less costs to complete and sell, is in respect of a piece of land which had previously been fully impaired. |
However, in accordance with FRS 102 paragraph 27.4, where circumstances that have previously caused inventories to be impaired no longer exist, and as in this case when there is an indication and evidence of an increase in selling price less costs to complete and sell because of changed economic circumstances, the company has reversed the impairment. Due to the impairment having taken place some time ago, a reasonable estimate has been made of the new carrying amount. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Nimbus Securities Limited (Registered number: 01049674) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | Accounting policies - continued |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Stocks |
2023 | 2022 |
£ | £ |
Work-in-progress |
Stocks |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Directors' current accounts | 308,317 | 308,317 |
6. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2,000 | 2,000 |
8. | Related party disclosures |
As at the year end included within creditors due within one year is an amount of £6,302,537 (2022 - £6,209,137,) due to companies connected by the directors. |
As at the year end included within creditors due after more that one year is an amount of £771,148 (2022 - £37,002) due to companies connected by the directors. |
9. | Parent company |
The ultimate parent company is Aureole Windsor Limited, the registered office is the same as for the company. Copies of the consolidated financial statements for Aureole Windsor Limited can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. |