Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31truefalserental property investmenttrue2023-05-17false1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14876831 2023-05-16 14876831 2023-05-17 2024-05-31 14876831 2022-05-17 2023-05-16 14876831 2024-05-31 14876831 c:Director1 2023-05-17 2024-05-31 14876831 d:FreeholdInvestmentProperty 2023-05-17 2024-05-31 14876831 d:FreeholdInvestmentProperty 2024-05-31 14876831 d:CurrentFinancialInstruments 2024-05-31 14876831 d:Non-currentFinancialInstruments 2024-05-31 14876831 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 14876831 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 14876831 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 14876831 d:ShareCapital 2024-05-31 14876831 d:RetainedEarningsAccumulatedLosses 2024-05-31 14876831 c:FRS102 2023-05-17 2024-05-31 14876831 c:AuditExempt-NoAccountantsReport 2023-05-17 2024-05-31 14876831 c:FullAccounts 2023-05-17 2024-05-31 14876831 c:PrivateLimitedCompanyLtd 2023-05-17 2024-05-31 14876831 e:PoundSterling 2023-05-17 2024-05-31 iso4217:GBP xbrli:pure
Registered number: 14876831






NUWO HOMES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024










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NUWO HOMES LIMITED
REGISTERED NUMBER:14876831

BALANCE SHEET
AS AT 31 MAY 2024

2024
Note
£

Fixed assets
  

Investment property
  
228,710

  
228,710

Current assets
  

Debtors: amounts falling due within one year
 5 
36

Cash at bank and in hand
 6 
1,285

  
1,321

Creditors: amounts falling due within one year
 7 
(67,131)

Net current (liabilities)/assets
  
 
 
(65,810)

Total assets less current liabilities
  
162,900

Creditors: amounts falling due after more than one year
  
(169,950)

  

Net (liabilities)/assets
  
(7,050)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(7,150)

  
(7,050)


Page 1

 
NUWO HOMES LIMITED
REGISTERED NUMBER:14876831
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 period 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 by: 




M C Greenwood
Director

Date: 11 February 2025

Page 2

 
NUWO HOMES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

NUWO Homes Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The company was incorporated on 17 May 2023 and commenced trading on 1 October 2023.  The principal activity of the company is that of rental property investment. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, despite the net current liabilities, due to the continuing support of the directors.

 
2.3

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
NUWO HOMES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the period was 1.

Page 4

 
NUWO HOMES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
228,710



At 31 May 2024
228,710

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
£


Historic cost
228,710

228,710


5.


Debtors

2024
£


Prepayments and accrued income
36

36



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
1,285

1,285


Page 5

 
NUWO HOMES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
£

Other creditors
65,286

Accruals and deferred income
1,845

67,131



8.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
169,950

169,950



9.


Loans


Analysis of the maturity of loans is given below:


2024
£




Amounts falling due after more than 5 years

Bank loans
169,950

169,950


 
Page 6