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REGISTERED NUMBER: 06261710 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

NATIONWIDE ESTATE AGENTS LIMITED

NATIONWIDE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06261710)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NATIONWIDE ESTATE AGENTS LIMITED

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Mr G C W Forshaw
Mr L R Stericker





SECRETARY: Mr G C W Forshaw





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 06261710 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

NATIONWIDE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06261710)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 36,757 25,009
36,757 25,009

CURRENT ASSETS
Debtors 6 27,519 13,041
Cash at bank and in hand 103,848 84,221
131,367 97,262
CREDITORS
Amounts falling due within one year 7 108,824 45,037
NET CURRENT ASSETS 22,543 52,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,300

77,234

CREDITORS
Amounts falling due after more than one
year

8

(15,887

)

(31,752

)

PROVISIONS FOR LIABILITIES (2,630 ) -
NET ASSETS 40,783 45,482

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 40,733 45,432
SHAREHOLDERS' FUNDS 40,783 45,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

NATIONWIDE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06261710)

Balance Sheet - continued
31st 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 Board of Directors and authorised for issue on 28th August 2024 and were signed on its behalf by:





Mr G C W Forshaw - Director


NATIONWIDE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06261710)

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

1. STATUTORY INFORMATION

Nationwide Estate Agents 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.

Revenue recognition
Revenue measured at the fair value of the consideration received or receivable and represents amounts received for services rendered, stated net of discounts and of Value Added Tax.

Goodwill
There are two elements to the goodwill previously acquired by the company. The first element was a reclassification from fixed asset investments to goodwill in 2013, and the second element was the acquisition of an external business in October 2014. Both elements have been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.
Those held under operating leases are charged on a straight line basis to the profit and loss account over the relevant period.

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.

NATIONWIDE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06261710)

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

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 124,884
AMORTISATION
At 1st April 2023
and 31st March 2024 124,884
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

NATIONWIDE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06261710)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2023 - 40,954 30,180 71,134
Additions 2,550 24,272 - 26,822
Disposals - - (18,494 ) (18,494 )
At 31st March 2024 2,550 65,226 11,686 79,462
DEPRECIATION
At 1st April 2023 - 33,809 12,316 46,125
Charge for year 478 4,766 2,678 7,922
Eliminated on disposal - - (11,342 ) (11,342 )
At 31st March 2024 478 38,575 3,652 42,705
NET BOOK VALUE
At 31st March 2024 2,072 26,651 8,034 36,757
At 31st March 2023 - 7,145 17,864 25,009

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2023 30,180
Disposals (18,494 )
At 31st March 2024 11,686
DEPRECIATION
At 1st April 2023 12,316
Charge for year 2,678
Eliminated on disposal (11,342 )
At 31st March 2024 3,652
NET BOOK VALUE
At 31st March 2024 8,034
At 31st March 2023 17,864

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by associates 21,154 13,041
Other debtors 4,825 -
Prepayments 1,540 -
27,519 13,041

NATIONWIDE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06261710)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 10,170 10,170
Hire purchase contracts (see note 10) 2,920 6,619
Trade creditors 2,142 590
Tax - 13,009
Social security and other taxes 12,066 12,081
Other creditors 379 286
Directors' current accounts 78,997 162
Accrued expenses 2,150 2,120
108,824 45,037

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 11,017 21,187
Hire purchase contracts (see note 10) 4,870 10,565
15,887 31,752

9. LOANS

The bank loan has been provided by the UK Government under the Bounce Back Loan scheme.

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 2,920 6,619
Between one and five years 4,870 10,565
7,790 17,184

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 10,800 -
Between one and five years 19,800 -
30,600 -

NATIONWIDE ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06261710)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 7,790 17,184

Hire purchase contracts are secured on the assets to which they relate.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Following advances made during the previous accounting period, at the balance sheet date the company owed £78,997 (2023: £162) to the director. No interest has been charged to the company in respect of this loan and it is repayable on demand.

13. RELATED PARTY DISCLOSURES

As at 31 March 2024, the company was owed £21,154 (2023: £13,041) by Nationwide Lettings Limited, a company in which Mr G C W Forshaw is a director. No interest has been charged by the company in respect of this loan and there is no formal repayment date.

14. ULTIMATE CONTROLLING PARTY

Mr G C W Forshaw is the ultimate controlling party by virtue of his holding 100% of the issued ordinary share capital.