REGISTERED NUMBER: 10704626 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Nidus Properties Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountant

8

DIRECTORS:

P Sargent

Dr C L Sargent

SECRETARY:

G J Owen

REGISTERED OFFICE:

Caldy

Egg Lane

Claines

Worcester

Worcestershire

WR3 7SB

REGISTERED NUMBER:

10704626 (England and Wales)

ACCOUNTANT:

Giles Owen Chartered Accountant

1 Croft Lane

Temple Grafton

Alcester

Warwickshire

B49 6PA

FIXED ASSETS

Property, plant and equipment

4

385

3,226

Investment property

5

6,470,039

6,245,039

6,470,424

6,248,265

CURRENT ASSETS

Debtors

6

159,580

147,716

Cash at bank

148,911

294,242

308,491

441,958

CREDITORS

Amounts falling due within one year

7

5,201,407

5,517,988

NET CURRENT LIABILITIES

(4,892,916

)

(5,076,030

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,577,508

1,172,235

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

9

37,087

-

Retained earnings

1,540,420

1,172,234

1,577,508

1,172,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:

P Sargent - Director

1.	STATUTORY INFORMATION

Nidus Properties 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

The nature of the company's operations and its principal activity was that of investing in property.

The company's financial statements have been prepared in compliance with FRS 102 "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" Section 1A and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis as modified by the revaluation of land and buildings held as investment property.

The financial statements comprise the unaudited financial statements of the company up to 31 March each year, and are stated in pounds, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

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.

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the income statement. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve

Taxation

Taxation expense for the period comprises current and deferred tax recognised in the period. 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. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current tax is the amount of UK corporation tax payable in respect of the taxable profit for the year or prior

years calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date except for certain exceptions.

Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Except for deferred tax relating to investment property, all other deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted at the reporting date and are expected to apply to the

reversal of the timing difference. Deferred tax relating to investment property that is measured at fair value is

calculated using the tax rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Critical accounting judgements and estimates

In preparing the financial statements the directors are required to make a number of accounting judgements and make estimates and assumptions concerning the future. The following judgements and estimates are deemed significant in the context of these financial statements:

i) Investment properties are recognised at their fair value. The company's investment properties were revalued on 31 March 2024 at fair value, determined by the directors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

8,609

DEPRECIATION

At 1 April 2024

5,383

Charge for year

2,841

At 31 March 2025

8,224

NET BOOK VALUE

At 31 March 2025

385

At 31 March 2024

3,226

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

6,245,039

Revaluations

225,000

At 31 March 2025

6,470,039

NET BOOK VALUE

At 31 March 2025

6,470,039

At 31 March 2024

6,245,039

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

(187,913

)

Valuation in 2025

225,000

Cost

6,432,952

6,470,039

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

135,841

143,977

Other debtors

23,739

3,739

159,580

147,716

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

(840

)

3,946

Amounts owed to group undertakings

4,974,999

5,274,999

Taxation and social security

85,414

130,082

Other creditors

141,834

108,961

5,201,407

5,517,988

8.	LEASING AGREEMENTS

The company holds ten investment properties as disclosed in the notes to the financial statements. These are let under non cancellable leases which have remaining terms of 2 years to 8 years.

Minimum lease payments receivable under non-cancellable operating leases fall due as follows:

31.03.25

31.03.24

£

£

Within one year

370,031

356,266

Between one and five years

818,958

911,583

In more than five years

263,592

363,492

1,452,581

1,631,341

9.

RESERVES

Revaluation

reserve

£

Transfer

37,087

At 31 March 2025

37,087

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2025 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

Giles Owen Chartered Accountant

1 Croft Lane

Temple Grafton

Alcester

Warwickshire

B49 6PA

Date: .............................................