Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 10633722 Mr Johan Nilsson Mr Johan Nilsson true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10633722 2023-02-28 10633722 2024-02-29 10633722 2023-03-01 2024-02-29 10633722 frs-core:CurrentFinancialInstruments 2024-02-29 10633722 frs-core:Non-currentFinancialInstruments 2024-02-29 10633722 frs-core:ComputerEquipment 2024-02-29 10633722 frs-core:ComputerEquipment 2023-03-01 2024-02-29 10633722 frs-core:ComputerEquipment 2023-02-28 10633722 frs-core:FurnitureFittings 2024-02-29 10633722 frs-core:FurnitureFittings 2023-03-01 2024-02-29 10633722 frs-core:FurnitureFittings 2023-02-28 10633722 frs-core:InvestmentPropertyIncludedWithinPPE 2024-02-29 10633722 frs-core:InvestmentPropertyIncludedWithinPPE 2023-03-01 2024-02-29 10633722 frs-core:InvestmentPropertyIncludedWithinPPE 2023-02-28 10633722 frs-core:ShareCapital 2024-02-29 10633722 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 10633722 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10633722 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 10633722 frs-bus:SmallEntities 2023-03-01 2024-02-29 10633722 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 10633722 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10633722 1 2023-03-01 2024-02-29 10633722 frs-bus:Director1 2023-03-01 2024-02-29 10633722 frs-countries:EnglandWales 2023-03-01 2024-02-29 10633722 2022-02-28 10633722 2023-02-28 10633722 2022-03-01 2023-02-28 10633722 frs-core:CurrentFinancialInstruments 2023-02-28 10633722 frs-core:Non-currentFinancialInstruments 2023-02-28 10633722 frs-core:ShareCapital 2023-02-28 10633722 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 10633722
Nilsson Residentials Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10633722
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 571,742 416,371
571,742 416,371
CURRENT ASSETS
Debtors 5 3,973 19,469
Cash at bank and in hand - 6,627
3,973 26,096
Creditors: Amounts Falling Due Within One Year 6 (156,345 ) (53,384 )
NET CURRENT ASSETS (LIABILITIES) (152,372 ) (27,288 )
TOTAL ASSETS LESS CURRENT LIABILITIES 419,370 389,083
Creditors: Amounts Falling Due After More Than One Year 7 (460,842 ) (347,767 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (11,253 )
NET (LIABILITIES)/ASSETS (41,472 ) 30,063
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account (41,672 ) 29,863
SHAREHOLDERS' FUNDS (41,472) 30,063
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Page 2
For the year ending 29 February 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Johan Nilsson
Director
29/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Nilsson Residentials Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10633722 . The registered office is 29 Park Square, Newport, NP20 4EN.
The company was formerly known as Nilsson Holdings Ltd.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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. The fair value of property is based on director's valuations and has not been based on a valuation by an independent valuer with a professional qualification. No depreciation is provided for. 
Changes in fair value are recognised in the profit and loss account.
2.5. Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 1
2 1
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4. Tangible Assets
Investment Properties Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 March 2023 415,405 2,666 - 418,071
Additions 178,269 - 1,926 180,195
Revaluation (23,675 ) - - (23,675 )
As at 29 February 2024 569,999 2,666 1,926 574,591
Depreciation
As at 1 March 2023 - 1,700 - 1,700
Provided during the period - 667 482 1,149
As at 29 February 2024 - 2,367 482 2,849
Net Book Value
As at 29 February 2024 569,999 299 1,444 571,742
As at 1 March 2023 415,405 966 - 416,371
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,420 17,554
Amounts owed by group undertakings 2,553 1,915
3,973 19,469
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 81,572 -
Other creditors 5,584 3,666
Accruals and deferred income 795 425
Director's loan account 68,394 49,293
156,345 53,384
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 325,063 310,119
Other creditors 135,779 37,648
460,842 347,767
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8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured by a fixed charge over the investment properties. £325,063 relates to interest only loans with terms of 20 and 24 years.
£81,409 relates to an interest only loan that was initially due for repayment by 27th December 2023. The company was unable to secure an extension on the loan and the lender appointed a receiver to manage and dispose of the property on 12th February 2024.
2024 2023
£ £
Bank loans and overdrafts 406,472 310,119
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
10. Related Party Transactions
At 29th February 2024 Nilsson Residentials Ltd owed £56,775 (2023 - £40,564) to Softy Ltd, a company in which Mr Johan Nilsson is a director and shareholder. Interest is payable at 3.5% per annum and is repaid in monthly instalments with the remaining amount repayable on 1st August 2034.
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Nilsson Property Group Ltd . Nilsson Property Group Ltd was incorporated in England and Wales. The ultimate controlling party is Mr Johan Nilsson who controls 100% of the shares of Nilsson Residentials Ltd .
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