Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue2023-10-01false2No description of principal activity2false 03422604 2023-10-01 2024-09-30 03422604 2022-10-01 2023-09-30 03422604 2024-09-30 03422604 2023-09-30 03422604 2022-10-01 03422604 c:Director1 2023-10-01 2024-09-30 03422604 d:PlantMachinery 2023-10-01 2024-09-30 03422604 d:PlantMachinery 2024-09-30 03422604 d:PlantMachinery 2023-09-30 03422604 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03422604 d:FurnitureFittings 2023-10-01 2024-09-30 03422604 d:FurnitureFittings 2024-09-30 03422604 d:FurnitureFittings 2023-09-30 03422604 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03422604 d:OfficeEquipment 2023-10-01 2024-09-30 03422604 d:OfficeEquipment 2024-09-30 03422604 d:OfficeEquipment 2023-09-30 03422604 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03422604 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03422604 d:FreeholdInvestmentProperty 2024-09-30 03422604 d:FreeholdInvestmentProperty 2023-09-30 03422604 d:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 03422604 d:CurrentFinancialInstruments 2024-09-30 03422604 d:CurrentFinancialInstruments 2023-09-30 03422604 d:Non-currentFinancialInstruments 2024-09-30 03422604 d:Non-currentFinancialInstruments 2023-09-30 03422604 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 03422604 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03422604 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 03422604 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 03422604 d:ShareCapital 2024-09-30 03422604 d:ShareCapital 2023-09-30 03422604 d:RetainedEarningsAccumulatedLosses 2024-09-30 03422604 d:RetainedEarningsAccumulatedLosses 2023-09-30 03422604 c:FRS102 2023-10-01 2024-09-30 03422604 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 03422604 c:FullAccounts 2023-10-01 2024-09-30 03422604 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03422604 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 03422604 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 03422604 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 03422604 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 03422604 f:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 03422604










NICHOLAS PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
NICHOLAS PROPERTIES LIMITED
REGISTERED NUMBER: 03422604

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
196
267

Investment property
 5 
4,075,001
3,595,001

  
4,075,197
3,595,268

Current assets
  

Debtors: amounts falling due within one year
 6 
-
1,297

Cash at bank and in hand
  
14,971
57,152

  
14,971
58,449

Creditors: amounts falling due within one year
 7 
(51,023)
(29,853)

Net current (liabilities)/assets
  
 
 
(36,052)
 
 
28,596

Total assets less current liabilities
  
4,039,145
3,623,864

Creditors: amounts falling due after more than one year
 8 
(577,725)
(698,635)

Provisions for liabilities
  

Deferred tax
 9 
(425,007)
(265,843)

Net assets
  
3,036,413
2,659,386


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
3,036,411
2,659,384

  
3,036,413
2,659,386


Page 1

 
NICHOLAS PROPERTIES LIMITED
REGISTERED NUMBER: 03422604
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 income and retained earnings 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 on 6 January 2025.




S J Nicholas
Director


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NICHOLAS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Nicholas Properties Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 03422604). Its registered office is Hollybank Lumb Lane, Darley Dale, Matlock, Derbyshire, DE4 2HP. The principal activity of the Company throughout the year continued to be that of an investment property company. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

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. 
Rental income is recognised over the period under which the property is leased.

 
2.3

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current 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. 

Page 3

 
NICHOLAS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Plant and machinery
-
20% straight line
Fixtures and fittings
-
10% straight line
Office equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

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 Income and Retained Earnings.

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Page 4

 
NICHOLAS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
1,275
3,002
1,134
5,411



At 30 September 2024

1,275
3,002
1,134
5,411



Depreciation


At 1 October 2023
1,275
3,002
867
5,144


Charge for the year on owned assets
-
-
71
71



At 30 September 2024

1,275
3,002
938
5,215



Net book value



At 30 September 2024
-
-
196
196



At 30 September 2023
-
-
267
267

Page 5

 
NICHOLAS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
3,595,001


Surplus on revaluation
480,000



At 30 September 2024
4,075,001

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



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
1,896,200
1,896,200


6.


Debtors

2024
2023
£
£


Other debtors
-
1,297



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
15,905
17,958

Other creditors
35,118
11,895

51,023
29,853


Page 6

 
NICHOLAS PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
577,725
698,635



9.


Deferred taxation




2024
2023


£

£






At beginning of year
265,843
69,634


Charged to profit or loss
159,164
196,209



At end of year
425,007
265,843

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
49
59

Revaluation gain
424,958
265,784

425,007
265,843

 
Page 7