IRIS Accounts Production v24.2.0.383 08054759 director 1.4.23 31.3.24 31.3.24 17.12.24 0 0 false true false false true false Auditors Opinion Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh080547592023-03-31080547592024-03-31080547592023-04-012024-03-31080547592022-03-31080547592022-04-012023-03-31080547592023-03-3108054759ns15:EnglandWales2023-04-012024-03-3108054759ns14:PoundSterling2023-04-012024-03-3108054759ns10:Director12023-04-012024-03-3108054759ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108054759ns10:SmallEntities2023-04-012024-03-3108054759ns10:Audited2023-04-012024-03-3108054759ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108054759ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108054759ns10:FullAccounts2023-04-012024-03-3108054759ns10:OrdinaryShareClass12023-04-012024-03-3108054759ns10:RegisteredOffice2023-04-012024-03-3108054759ns5:CurrentFinancialInstruments2024-03-3108054759ns5:CurrentFinancialInstruments2023-03-3108054759ns5:ShareCapital2024-03-3108054759ns5:ShareCapital2023-03-3108054759ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3108054759ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3108054759ns5:RetainedEarningsAccumulatedLosses2024-03-3108054759ns5:RetainedEarningsAccumulatedLosses2023-03-3108054759ns5:TaxLossesCarry-forwardsDeferredTax2024-03-3108054759ns5:TaxLossesCarry-forwardsDeferredTax2023-03-3108054759ns5:DeferredTaxation2023-03-3108054759ns5:DeferredTaxation2023-04-012024-03-3108054759ns5:DeferredTaxation2024-03-3108054759ns10:OrdinaryShareClass12024-03-3108054759ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31
REGISTERED NUMBER: 08054759 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

NU-CENTS LIMITED

NU-CENTS LIMITED (REGISTERED NUMBER: 08054759)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NU-CENTS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: T M Nunan





REGISTERED OFFICE: Sarginsons Industries Ltd
Torrington Avenue
Coventry
West Midlands
CV4 9AG





REGISTERED NUMBER: 08054759 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

NU-CENTS LIMITED (REGISTERED NUMBER: 08054759)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 950,000 950,000

CURRENT ASSETS
Cash at bank and in hand 2 7

CREDITORS
Amounts falling due within one year 5 472,440 471,240
NET CURRENT LIABILITIES (472,438 ) (471,233 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

477,562

478,767

PROVISIONS FOR LIABILITIES 6 106,573 106,802
NET ASSETS 370,989 371,965

CAPITAL AND RESERVES
Called up share capital 7 2 2
Non-distributable reserve 8 391,875 391,875
Retained earnings (20,888 ) (19,912 )
SHAREHOLDERS' FUNDS 370,989 371,965

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 December 2024 and were signed by:





T M Nunan - Director


NU-CENTS LIMITED (REGISTERED NUMBER: 08054759)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Nu-Cents Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

As at 31 March 2024 the balance sheet showed net current liabilities of £472,438 (2023 - £471,233). The director believes the financial statements should still be prepared on a going concern basis due to his continued support, and the continued support of other group companies. Therefore, no accounting entries have been made to the financial statements to reflect any adjustments which may be required should this support be withdrawn.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Basic financial instruments
Basic financial instruments payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Key areas of judgement and estimation
There were no key areas of judgement and there are no key estimations which may have a significant effect on the next 12 months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

NU-CENTS LIMITED (REGISTERED NUMBER: 08054759)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 950,000
NET BOOK VALUE
At 31 March 2024 950,000
At 31 March 2023 950,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2018 500,000
Cost 450,000
950,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 450,000 450,000

investment property was valued on an open market basis on 16 November 2018 by Bruton Knowles .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,020 960
Amounts owed to group undertakings 470,292 469,287
Accruals and deferred income 1,128 993
472,440 471,240

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Tax losses carried forward (1,552 ) (1,323 )
Other timing differences 108,125 108,125
106,573 106,802

NU-CENTS LIMITED (REGISTERED NUMBER: 08054759)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 106,802
Credit to Income Statement during year (229 )
Balance at 31 March 2024 106,573

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

8. RESERVES
Non-distributable
reserve
£   
At 1 April 2023
and 31 March 2024 391,875

Transfers to the fair value reserve in the year are net of deferred tax on the unrealised gain at 25%.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ashwani Rishiraj (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T M Nunan.