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REGISTERED NUMBER: 10860846 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

NICK JP HOLDINGS LIMITED

NICK JP HOLDINGS LIMITED (REGISTERED NUMBER: 10860846)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NICK JP HOLDINGS LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTOR: Mr N J Phillips





REGISTERED OFFICE: Unit 4
Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 10860846 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

NICK JP HOLDINGS LIMITED (REGISTERED NUMBER: 10860846)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,363,000 3,079,000

CURRENT ASSETS
Debtors 5 31,206 29,030
Cash at bank and in hand 3,148 64,119
34,354 93,149
CREDITORS
Amounts falling due within one year 6 930,810 876,367
NET CURRENT LIABILITIES (896,456 ) (783,218 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,466,544

2,295,782

CREDITORS
Amounts falling due after more than one
year

7

(2,079,175

)

(1,908,275

)

PROVISIONS FOR LIABILITIES 10 (14,316 ) (15,790 )
NET ASSETS 373,053 371,717

CAPITAL AND RESERVES
Called up share capital 11 1 1
Fair value reserve 12 441,361 441,361
Retained earnings 12 (68,309 ) (69,645 )
SHAREHOLDERS' FUNDS 373,053 371,717

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

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

The director acknowledges his 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.

NICK JP HOLDINGS LIMITED (REGISTERED NUMBER: 10860846)

BALANCE SHEET - continued
31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





Mr N J Phillips - Director


NICK JP HOLDINGS LIMITED (REGISTERED NUMBER: 10860846)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Nick JP Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's director and the shareholder. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

Turnover
Rental income from investment property leased out under operating leases is recognised in the profit and loss on a straight-line basis over the term of the lease.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

NICK JP HOLDINGS LIMITED (REGISTERED NUMBER: 10860846)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. 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 bank loans, 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.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

NICK JP HOLDINGS LIMITED (REGISTERED NUMBER: 10860846)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 3,079,000
Additions 276,242
Revaluations 7,758
At 31 July 2024 3,363,000
NET BOOK VALUE
At 31 July 2024 3,363,000
At 31 July 2023 3,079,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2022 544,890
Valuation in 2023 83,107
Valuation in 2024 7,758
Cost 2,727,245
3,363,000

If investment property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 2,451,003 2,451,003

Investment property was valued on an open market basis on 31 July 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 31,206 29,030

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Amounts owed to participating interests 905,500 865,500
Other creditors 12,106 8,335
Directors' current accounts 11,224 612
Accruals 1,980 1,920
930,810 876,367

NICK JP HOLDINGS LIMITED (REGISTERED NUMBER: 10860846)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans (see note 8) 2,079,175 1,908,275

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,079,175 1,908,275

8. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,079,175 1,908,275

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 2,079,175 1,908,275

The bank loans are secured over the associated properties concerned.

10. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax
Other timing differences 14,316 15,790

Deferred
tax
£   
Balance at 1 August 2023 15,790
Provided during year (1,474 )
Balance at 31 July 2024 14,316

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
1 Ordinary £1 1 1

NICK JP HOLDINGS LIMITED (REGISTERED NUMBER: 10860846)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 August 2023 (69,645 ) 441,361 371,716
Profit for the year 1,336 1,336
At 31 July 2024 (68,309 ) 441,361 373,052