Nidus Riley Limited
Unaudited Financial Statements
For the year ended
31 MARCH 2024
Pages for filing with registrar
Company Registration No.
Nidus Riley Limited
Officers and professional advisers
THE BOARD OF DIRECTORS |
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COMPANY SECRETARY | |
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REGISTERED OFFICE | |
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Nidus Riley Limited
Unaudited Statement of Financial Position
at 31 March 2024 | Company Registration No. 5732385 |
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| Note | £ | £ | £ | £ |
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FIXED ASSETS |
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Tangible assets | 4 |
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Investments |
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CURRENT ASSETS |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS: Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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CREDITORS: Amounts falling due after more than one year | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
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Called-up equity share capital | 8 |
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Share premium account |
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Profit and loss account | 9 |
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TOTAL EQUITY |
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The directors have elected not to include a copy of the income statement within the financial
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 2 to 7 were approved by
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S d'Arcy
Director
Nidus Riley Limited
Statement of changes in equity
at 31 March 2024
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| Share Capital | Profit & loss reserves | Total |
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Balance at |
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Profit and comprehensive income for the year |
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Balance at |
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Profit and comprehensive income for the year |
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Dividends | 3 | - | ( | ( |
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Balance at 31 March 2024 |
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Nidus Riley Limited
Notes to the unaudited financial statements
Year ended 31 March 2024
1 ACCOUNTING POLICIES
General Information
Nidus Riley Limited (“the Company”) is a private company limited by shares and is registered, domiciled and incorporated in
The Registered Office address of the company is Sunley House, 4 Bedford Park, Croydon CR0 2AP.
Basis of accounting
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 principal accounting policies are set out below.
Going concern
The directors have prepared financial projections looking forwards for a period of at least 12 months from the date of signing these financial statements. Having taken due consideration of the company's reserves, the current uncertain economic climate, anticipated fee income over the coming year and allowing for normal commercial trading risks, the directors consider it appropriate to prepare the financial statements on the going concern basis as the projections demonstrate that the company is expected to have sufficient cash to meet its liabilities as they fall due.
Turnover
The turnover shown in the income statement represents amounts receivable for goods and services provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes. Turnover is recognised by reference to the stage of completion.
Tangible fixed assets and depreciation
Furniture & Equipment | - |
Leasehold Improvements | |
Computer Equipment | - |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset , and is credited or charged to profit or loss.
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the income statement.
Nidus Riley Limited
Notes to the unaudited financial statements (continued)
Year ended 31 March 2024
1 ACCOUNTING POLICIES (Continued)
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the income statement. Differences between the contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the statement of financial position.
Taxation
The tax expense represents the sum of the current tax expensed. Current tax assets are recognised when tax paid exceeds tax payable.
Current tax is recognised for the amount of income tax payable in respect of taxable profits for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised when the Company becomes a party to the contractual provisions of the instrument, and are offset only when the Company has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Financial Assets
Basic financial assets, which include amounts due from related undertakings, trade debtors, accrued income and other debtors which are receivable within one year and do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost.
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.
Financial Liabilities
Basic financial liabilities including amounts due to related parties, trade and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled where the debt instrument is measured at present value of future payments discounted at a market rate of interest.
Nidus Riley Limited
Notes to the unaudited financial statements (continued)
Year ended 31 March 2024
Equity Instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2 EMPLOYEES
| 2024 | 2023 |
| No. | No. |
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The average number of employees (including directors) during the year |
3 DIVIDENDS
Equity dividends - £196,500 Paid during the year | £ | £ |
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4 TANGIBLE FIXED ASSETS
| Equipment, |
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COST | £ |
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At 1 April 2023 | |
Additions | |
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At 31 March 2024 | |
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DEPRECIATION |
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At 1 April 2023 | |
Charge for the year | |
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At 31 March 2024 | |
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NET BOOK VALUE |
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At 31 March 2024 | |
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At 31 March 2023 |
5 DEBTORS
| 2024 | 2023 |
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Trade debtors | ||
Amounts due from related undertakings | ||
Prepayments and accrued income | ||
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Nidus Riley Limited
Notes to the unaudited financial statements (continued)
Year ended 31 March 2024
6 CREDITORS: Amounts falling due within one year
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Trade Creditors | ||
Amounts due to related undertakings | - | |
Corporation Tax | ||
Other taxation and social security | ||
Bank Loans | ||
Other creditors | - | |
Accruals and deferred income | ||
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7 CREDITORS: Amounts falling due after more than one year
| £ | £ |
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Bank Loans | ||
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Bank Loans are repayable as below: |
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Less than one year | ||
1 to 2 years | ||
2 to 5 years | ||
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8 SHARE CAPITAL
| 2024 | 2023 |
Issued and fully paid | £ | £ |
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Nidus Riley Limited
Notes to the unaudited financial statements (continued)
Year ended 31 March 2024
9 RESERVES
Profit & loss reserves Cumulative profit and loss net of distributions to owners.
10 RELATED PARTY TRANSACTIONS
During the year the following transactions took place in the normal course of business.
| Sales in the | Purchases in | Management | Amounts due |
| year | the year | charges | from/(to) at |
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2024 |
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The trading of Henry Riley LLP was transferred to TSA Riley Ltd in April 2023 and is no longer a related party. Amounts due from/to and now included in Trade Debtors/Creditors
The transactions in the previous year and the balances at 31 March 2023 were as follows:-
| Sales in the | Purchases in | Management | Amounts due |
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2023 |
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Engineering Services Partnership Ltd | - | - |
The above entities have common directors/members with Nidus Riley Ltd.
11 TRANSACTIONS WITH DIRECTORS
During the year the directors received dividends totalling £121,012 (2023 - £82,558)
12 RETIREMENT BENEFITS
The company operates a
13 CONTROL
No party has overall control of the company.