Company Registration No. 12120794 (England and Wales)
Nestings JQ Limited
Unaudited accounts
for the year ended 31 March 2024
Nestings JQ Limited
Unaudited accounts
Contents
Nestings JQ Limited
Company Information
for the year ended 31 March 2024
Company Number
12120794 (England and Wales)
Registered Office
The Wilmot
62-64 Albion Street
Jewellery Quarter
Birmingham
B1 3EA
United Kingdom
Accountants
R M Accountancy Services Ltd
The Old Post Office
137-139 Long Street
Dordon
Staffordshire
B78 1SH
Nestings JQ Limited
Statement of financial position
as at 31 March 2024
Tangible assets
8,480
13,891
Investment property
1,610,000
2,355,596
Cash at bank and in hand
8,544
43,089
Creditors: amounts falling due within one year
(211,016)
(110,259)
Net current liabilities
(196,346)
(60,208)
Total assets less current liabilities
1,422,134
2,309,279
Creditors: amounts falling due after more than one year
(1,411,195)
(1,464,385)
Called up share capital
300
300
Revaluation reserve
(745,596)
-
Profit and loss account
756,235
844,594
Shareholders' funds
10,939
844,894
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 April 2025 and were signed on its behalf by
N Vora
Director
Company Registration No. 12120794
Nestings JQ Limited
Notes to the Accounts
for the year ended 31 March 2024
Nestings JQ Limited is a private company, limited by shares, registered in England and Wales, registration number 12120794. The registered office is The Wilmot, 62-64 Albion Street, Jewellery Quarter, Birmingham, B1 3EA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over 20 years
Computer equipment
Over four years
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Nestings JQ Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment
Fair value at 1 April 2023
2,355,596
Net loss from fair value adjustments
(745,596)
At 31 March 2024
1,610,000
Amounts falling due within one year
Accrued income and prepayments
-
2,505
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
41,868
41,868
Trade creditors
64,711
44,806
Other creditors
77,509
8,967
Loans from directors
15,297
297
Nestings JQ Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
688,713
730,581
Other creditors
360,000
350,000
Deferred income
362,482
383,804
9
Transactions with related parties
During the year the company charged Rent totalling £19,667 (2023 : £36,000) to a related company.
During the year the company incurred Marketing fees totalling £24,315 (2023 : £28,071) from a related company.
The balance between the parties at the balance sheet date is in long term creditors for £77,508 (2023 : £8,967).
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).