Caseware UK (AP4) 2024.0.164 2024.0.164 2023-07-01falseThe principal activity of the company continued to be that of property dealing.00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02251403 2023-07-01 2024-06-30 02251403 2022-07-01 2023-06-30 02251403 2024-06-30 02251403 2023-06-30 02251403 c:Director3 2023-07-01 2024-06-30 02251403 d:FreeholdInvestmentProperty 2023-07-01 2024-06-30 02251403 d:FreeholdInvestmentProperty 2024-06-30 02251403 d:FreeholdInvestmentProperty 2023-06-30 02251403 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 02251403 d:CurrentFinancialInstruments 2024-06-30 02251403 d:CurrentFinancialInstruments 2023-06-30 02251403 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02251403 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02251403 d:ShareCapital 2024-06-30 02251403 d:ShareCapital 2023-06-30 02251403 d:RevaluationReserve 2023-07-01 2024-06-30 02251403 d:RevaluationReserve 2024-06-30 02251403 d:RevaluationReserve 2023-06-30 02251403 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 02251403 d:RetainedEarningsAccumulatedLosses 2024-06-30 02251403 d:RetainedEarningsAccumulatedLosses 2023-06-30 02251403 c:OrdinaryShareClass1 2023-07-01 2024-06-30 02251403 c:OrdinaryShareClass1 2024-06-30 02251403 c:OrdinaryShareClass1 2023-06-30 02251403 c:FRS102 2023-07-01 2024-06-30 02251403 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02251403 c:FullAccounts 2023-07-01 2024-06-30 02251403 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02251403 2 2023-07-01 2024-06-30 02251403 d:OtherDeferredTax 2024-06-30 02251403 d:OtherDeferredTax 2023-06-30 02251403 f:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02251403










Nimble Properties Limited








Unaudited

Financial statements

For the year ended 30 June 2024

 
Nimble Properties Limited
Registered number: 02251403

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,220,000
1,848,911

  
2,220,000
1,848,911

Current assets
  

Debtors: amounts falling due within one year
 5 
140,438
153,950

Bank and cash balances
  
89,421
104,485

  
229,859
258,435

Creditors: amounts falling due within one year
 6 
(995,787)
(949,450)

Net current liabilities
  
 
 
(765,928)
 
 
(691,015)

Total assets less current liabilities
  
1,454,072
1,157,896

Provisions for liabilities
  

Deferred tax
 7 
(72,647)
-

  
 
 
(72,647)
 
 
-

Net assets
  
1,381,425
1,157,896


Capital and reserves
  

Called up share capital 
 8 
2
2

Revaluation reserve
 9 
217,940
-

Profit and loss account
 9 
1,163,483
1,157,894

  
1,381,425
1,157,896


Page 1

 
Nimble Properties Limited
Registered number: 02251403

Balance sheet (continued)
As at 30 June 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 comprehensive income 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: 




L G Marks
Director

Date: 26 March 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
Nimble Properties Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England & Wales. The company's registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA. The Company's principal place of business is 95 Dorset House, Gloucester Place, London, United Kingdom, NW1 5AF. The principal activity of the company continued to be that of 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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 company reporting net current liabilities of £765,928 (2023: £691,015). Included within the Creditors: Amounts due within one year is an amount of £875,000 (2023: £875,000) due to Cardinal Group Limited. Cardinal Group Limited has confirmed that they will not call for repayment of the above sums until the company has sufficient cash reserves to do so, without prejudice to the company's other creditors and for a period of at least twelve months from the date of approval of the financial statements.

 
2.3

Turnover

Turnover represents rents, service charges, insurance and repairs and maintenance receivable from the tenants, credit for which is taken on an accruals basis, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

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 profit or loss.

 
2.5

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.

 
2.6

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.

Page 3

 
Nimble Properties Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees




The average monthly number of employees, excluding directors, during the year was 0 (2023 - 0).

Page 4

 
Nimble Properties Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
1,848,911


Additions at cost
80,502


Surplus on revaluation
290,587



At 30 June 2024
2,220,000

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






5.


Debtors

2024
2023
£
£


Trade debtors
67,364
40,327

Other debtors
51,490
61,250

Prepayments and accrued income
21,584
24,408

Tax recoverable
-
27,965

140,438
153,950



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
27,322
3,755

Amounts owed to group undertakings
905,000
875,000

Corporation tax
1,700
-

Other taxation and social security
5,423
-

Other creditors
39,015
46,598

Accruals and deferred income
17,327
24,097

995,787
949,450




Page 5

 
Nimble Properties Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

7.


Deferred taxation




2024


£






Charged to profit or loss
(72,647)



At end of year
(72,647)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Revaluation of investment property
(72,647)
-

(72,647)
-


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



9.


Reserves

Revaluation reserve

This reserve comprises the increase in fair value of the Investment property.

Profit and loss account

This reserve comprises all the current and prior retained profits and losses, after deducting any
distributions to the company's shareholders. 


10.


Controlling party

The Company regards Cardinal Group Limited as its ultimate parent company.
The Company considers its ultimate control relationship the directors of Cardinal Group Limited.
All companies mentioned above are registered in England and Wales.


Page 6