REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2024 |
for |
Nimmo Buildings Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2024 |
for |
Nimmo Buildings Limited |
Nimmo Buildings Limited (Registered number: 06307914) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Nimmo Buildings Limited (Registered number: 06307914) |
Balance Sheet |
30 September 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings |
Shareholders' funds |
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. |
Nimmo Buildings Limited (Registered number: 06307914) |
Balance Sheet - continued |
30 September 2024 |
The financial statements were approved by the director and authorised for issue on |
Nimmo Buildings Limited (Registered number: 06307914) |
Notes to the Financial Statements |
for the Year Ended 30 September 2024 |
1. | Statement of compliance |
2. | Accounting policies |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Given the straightforward operations and financial position of the company, there are not considered to be any key sources of judgement or estimation uncertainty within these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment loses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Nimmo Buildings Limited (Registered number: 06307914) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
2. | Accounting policies - continued |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Nimmo Buildings Limited (Registered number: 06307914) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
2. | Accounting policies - continued |
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. |
Employee ownership trust |
The company established Nimmo Buildings EOT Limited ('trust') to enable shares in the company to be held by the trustees for the benefit of the company's employees. Distributions made by the company are treated as gifts to the trust so that the trust can meet its obligations. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 October 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2024 |
Depreciation |
At 1 October 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2024 |
Net book value |
At 30 September 2024 |
At 30 September 2023 |
Nimmo Buildings Limited (Registered number: 06307914) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 October 2023 |
and 30 September 2024 |
Net book value |
At 30 September 2024 |
At 30 September 2023 |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
6. | Debtors: amounts falling due within one year |
30.9.24 | 30.9.23 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | Creditors: amounts falling due within one year |
30.9.24 | 30.9.23 |
£ | £ |
Taxation and social security |
Other creditors |
8. | Related party disclosures |
Nimmo Buildings EOT Limited holds shares for the benefit of the company's current and future employees. |
During the year the company made a non-dividend distribution of £672,215 (2023: £750,000 to Nimmo Buildings EOT Limited. |
The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing any further transactions with members of the group that are wholly owned. |
9. | Ultimate controlling party |
The Ultimate controlling party is Nimmo Buildings EOT Limited, a company registered in England and Wales. |