Company registration number 10435661 (England and Wales)
NDMS PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
NDMS PROPERTIES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
NDMS PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
450,000
450,000
Current assets
Debtors
4
1,495
1,576
Cash at bank and in hand
26,523
20,619
28,018
22,195
Creditors: amounts falling due within one year
5
(322,621)
(335,161)
Net current liabilities
(294,603)
(312,966)
Total assets less current liabilities
155,397
137,034
Provisions for liabilities
(8,961)
(8,961)
Net assets
146,436
128,073
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
146,136
127,773
Total equity
146,436
128,073
NDMS PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -
For the financial year ended 31 March 2025 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
Mrs N C Palmer
Director
Company registration number 10435661 (England and Wales)
NDMS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information
NDMS Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 67 St Osyth Road East, Little Clacton, Essex, CO16 9NZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rental income provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
NDMS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
3
3
3
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
450,000
Investment property comprises of six commercial properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out during 2023 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. It is considered that there has been no material change in value between the valuation date and the current balance sheet date.
NDMS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,127
550
Other debtors
368
1,026
1,495
1,576
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
795
Taxation and social security
8,370
8,839
Other creditors
313,456
326,322
322,621
335,161
6
Related party transactions
2025
2024
Amounts due to related parties
£
£
Key management personnel
305,206
319,722