Company registration number 12525407 (England and Wales)
NEXUS PROPERTY INVESTMENTS (MIDLANDS)LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
NEXUS PROPERTY INVESTMENTS (MIDLANDS)LTD
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 5
NEXUS PROPERTY INVESTMENTS (MIDLANDS)LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NEXUS PROPERTY INVESTMENTS (MIDLANDS)LTD FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nexus Property Investments (midlands)ltd for the year ended 31 January 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Nexus Property Investments (midlands)ltd, as a body, in accordance with the terms of our engagement letter dated 22 October 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Nexus Property Investments (midlands)ltd and state those matters that we have agreed to state to the board of directors of Nexus Property Investments (midlands)ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nexus Property Investments (midlands)ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Nexus Property Investments (midlands)ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nexus Property Investments (midlands)ltd. You consider that Nexus Property Investments (midlands)ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nexus Property Investments (midlands)ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HSKS Greenhalgh Ltd
29 October 2024
HSKS Greenhalgh Ltd is part of the Dains Group
Charlotte House
Stanier Way
The Wyvern Business Park
Derby
DE21 6BF
NEXUS PROPERTY INVESTMENTS (MIDLANDS)LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
1,104,679
590,132
Current assets
Debtors
14,273
2,998
Cash at bank and in hand
8,633
2,919
22,906
5,917
Creditors: amounts falling due within one year
(876,255)
(603,454)
Net current liabilities
(853,349)
(597,537)
Total assets less current liabilities
251,330
(7,405)
Creditors: amounts falling due after more than one year
(255,210)
-
0
Net liabilities
(3,880)
(7,405)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(3,980)
(7,505)
Total equity
(3,880)
(7,405)
NEXUS PROPERTY INVESTMENTS (MIDLANDS)LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -

For the financial year ended 31 January 2024 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 29 October 2024
Mr R Hussain
Director
Company registration number 12525407 (England and Wales)
NEXUS PROPERTY INVESTMENTS (MIDLANDS)LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

Nexus Property Investments (midlands)ltd is a private company limited by shares incorporated in England and Wales. The registered office is 281 Blackpool Street, Burton on Trent, Derbyshire, DE14 3AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the year end, the company balance is showing a net current liabilities position of £853,349 (2023: true£597,537).

 

The company continues to trade as a going concern with the ongoing financial support of the director, and as such, the accounts have been prepared on this basis.

 

The director has assessed the balance sheet and likely future cash flows at the date of approving these financial statements.

 

The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, he continue to adopt the going concern basis in preparing the financial statements.

1.3
Turnover

The turnover shown in the profit and loss account represents rent receivable during the period,

exclusive of VAT.

1.4
Investment property

Investment properties are initially recorded at cost, including incidental costs bringing the property into ownership. They are shown at fair value which is based on the directors' knowledge of similar properties in respective areas.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NEXUS PROPERTY INVESTMENTS (MIDLANDS)LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: nil

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 February 2023
590,132
Additions
514,547
At 31 January 2024
1,104,679

The Director considers that the market value of the properties has not changed since the latest acquisitions and therefore all properties are reflected in accounts at original cost.

 

4
Secured Debts

At the year end, there was a charge listed at Companies House from Together Commercial Finance who held a Fixed and floating charge over all of the Freehold Land and buildings at 1 Lichfield Street and 1 & 2 New Street Burton on Trent DE14 3QZ.

 

After the year end, a further charge was then listed from Together Commercial Finance for a Fixed and floating charge over all of the Freehold Land and buildings at 2 and 4 Lichfield Street, Burton on Trent DE14 3QZ.

5
Related party transactions
2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
126,212
83,221

The loan outstanding is unsecured, has no interest charged and is repayable on demand.

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