Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30truetrue2023-07-01falseInvestment property33The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01352428 2023-07-01 2024-06-30 01352428 2022-06-01 2023-06-30 01352428 2024-06-30 01352428 2023-06-30 01352428 2022-06-01 01352428 1 2023-07-01 2024-06-30 01352428 1 2022-06-01 2023-06-30 01352428 d:Director1 2023-07-01 2024-06-30 01352428 e:FreeholdInvestmentProperty 2024-06-30 01352428 e:FreeholdInvestmentProperty 2023-06-30 01352428 e:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 01352428 e:CurrentFinancialInstruments 2024-06-30 01352428 e:CurrentFinancialInstruments 2023-06-30 01352428 e:Non-currentFinancialInstruments 2024-06-30 01352428 e:Non-currentFinancialInstruments 2023-06-30 01352428 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 01352428 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 01352428 e:ShareCapital 2024-06-30 01352428 e:ShareCapital 2023-06-30 01352428 e:ShareCapital 2022-06-01 01352428 e:InvestmentPropertiesRevaluationReserve 2024-06-30 01352428 e:InvestmentPropertiesRevaluationReserve 1 2023-07-01 2024-06-30 01352428 e:InvestmentPropertiesRevaluationReserve 2023-06-30 01352428 e:InvestmentPropertiesRevaluationReserve 2022-06-01 01352428 e:InvestmentPropertiesRevaluationReserve 1 2022-06-01 2023-06-30 01352428 e:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 01352428 e:RetainedEarningsAccumulatedLosses 2024-06-30 01352428 e:RetainedEarningsAccumulatedLosses 1 2023-07-01 2024-06-30 01352428 e:RetainedEarningsAccumulatedLosses 2022-06-01 2023-06-30 01352428 e:RetainedEarningsAccumulatedLosses 2023-06-30 01352428 e:RetainedEarningsAccumulatedLosses 2022-06-01 01352428 e:RetainedEarningsAccumulatedLosses 1 2022-06-01 2023-06-30 01352428 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 01352428 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 01352428 d:FRS102 2023-07-01 2024-06-30 01352428 d:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 01352428 d:FullAccounts 2023-07-01 2024-06-30 01352428 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01352428 6 2023-07-01 2024-06-30 01352428 e:AcceleratedTaxDepreciationDeferredTax 2024-06-30 01352428 e:AcceleratedTaxDepreciationDeferredTax 2023-06-30 01352428 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 01352428






NESTONE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










img4551.png

 
NESTONE LIMITED
REGISTERED NUMBER:01352428

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
100
100

Investment property
 6 
2,196,797
2,096,797

  
2,196,897
2,096,897

Current assets
  

Debtors: amounts falling due after more than one year
 7 
13,695
20,523

Debtors: amounts falling due within one year
 7 
608,485
36,129

Cash at bank and in hand
 8 
155,704
560,996

  
777,884
617,648

Creditors: amounts falling due within one year
 9 
(81,571)
(84,674)

Net current assets
  
 
 
696,313
 
 
532,974

Total assets less current liabilities
  
2,893,210
2,629,871

Provisions for liabilities
  

Deferred tax
 11 
(239,011)
(214,011)

  
 
 
(239,011)
 
 
(214,011)

Net assets
  
2,654,199
2,415,860


Capital and reserves
  

Called up share capital 
  
4
4

Investment property reserve
  
944,228
869,228

Profit and loss account
  
1,709,967
1,546,628

  
2,654,199
2,415,860


Page 1

 
NESTONE LIMITED
REGISTERED NUMBER:01352428
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
L.F.A. Sidoli
Director

Date: 17 October 2024

Page 2

 
NESTONE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 June 2022
4
1,043,961
1,310,379
2,354,344



Profit for the period
-
-
61,516
61,516

Fair value movement
-
(174,733)
174,733
-



At 1 July 2023
4
869,228
1,546,628
2,415,860



Profit for the year
-
-
238,339
238,339

Fair value movement
-
75,000
(75,000)
-


At 30 June 2024
4
944,228
1,709,967
2,654,199


Page 3

 
NESTONE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Nestone Limited is a private company limited by shares, incorporated in England and Wales, registration number 01352428. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity of the company is  that of an investment property.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Going concern

Taking into account a period exceeding 12 months from the date of approval of these financial statements, the Directors have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future, and for this reason will continue to adopt the going concern basis in the preparation of its Financial Statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Turnover consists of rental income which is recognised in the period in which it is due provided that:
The amount of rent can be measured reliably; and
It is probable that the company will receive the rent due.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
NESTONE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
NESTONE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts
Page 6

 
NESTONE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors have exercised their judgement in valuing the investment properties at the balance sheet date, and have valued the properties at what they believe is the fair value.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 -3).

Page 7

 
NESTONE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
100



At 30 June 2024
100





6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
2,096,797


Movement on revaluation
100,000



At 30 June 2024
2,196,797

The 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 July 2023
869,228
1,043,961

Net deficit in movement properties
75,000
(174,733)

At 30 June 2024
944,228
869,228

Page 8

 
NESTONE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
6.Investment property (continued)



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,013,557
1,013,557

1,013,557
1,013,557


7.


Debtors

2024
2023
£
£

Due after more than one year

Prepayments and accrued income
13,695
20,523

13,695
20,523


2024
2023
£
£

Due within one year

Trade debtors
14,234
7,023

Other debtors
585,240
13,739

Prepayments and accrued income
9,011
15,367

608,485
36,129



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
155,704
560,996

155,704
560,996


Page 9

 
NESTONE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
47,803
9,194

Other creditors
17,769
21,520

Accruals and deferred income
15,999
53,960

81,571
84,674



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
2,196,797
2,096,797




Financial assets consist of the investment properties stated at fair value.


11.


Deferred taxation




2024
2023


£

£






At beginning of year
(214,011)
(272,255)


Charged to profit or loss
(25,000)
58,244



At end of year
(239,011)
(214,011)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value movements on properties
(239,011)
(214,011)

(239,011)
(214,011)

Page 10