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Registration number: 07362238

Nest Design and Build Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Nest Design and Build Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Nest Design and Build Limited

(Registration number: 07362238)
Balance Sheet as at 31 August 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

258,057

253,402

Current assets

 

Debtors

5

366,239

346,444

Cash at bank and in hand

 

634,364

817,965

 

1,000,603

1,164,409

Creditors: Amounts falling due within one year

6

(735,326)

(619,526)

Net current assets

 

265,277

544,883

Total assets less current liabilities

 

523,334

798,285

Creditors: Amounts falling due after more than one year

6

(187,622)

(138,870)

Provisions for liabilities

(48,379)

(65,098)

Net assets

 

287,333

594,317

Capital and reserves

 

Called up share capital

200

200

Retained earnings

287,133

594,117

Shareholders' funds

 

287,333

594,317

 

Nest Design and Build Limited

(Registration number: 07362238)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

Mr C Warbey
Director

   
     
 

Nest Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o Milsted Langdon
Freshford House
Redcliffe Way
Bristol
BS1 6NL

The principal place of business is:
Nest Studios
Eagles Wood Business Park
Woodland Lane
Bristol
BS32 4EU

These financial statements were authorised for issue by the Board on 28 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future despite the ongoing energy and cost of living increases. Thus the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

 

Nest Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Prior period errors

It was noted during the preparation of the 2024 financial statements that the 2023 balance sheet and profit and loss accounts had been mis-stated, due to the incorrect accounting treatment being applied to finance leases. The impact of the correction of these errors has been disclosed below.

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Creditors: Loans and borrowings

-

24,692

-

Fixed assets: Motor vehicles

-

(16,157)

-

Profit & loss: Depreciation

-

(4,143)

-

Profit & loss: Motor expenses

-

(7,018)

-

Profit & loss: Finance lease interest

-

2,626

-

   

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- It is recognised by reference to the stage of completion of the contract which is measured by comparing costs incurred for work performed to date to the total estimated contract costs;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably; and
- all of the significant risks and rewards of ownership have been transferred to the customer.

Finance income and costs policy

Finance income and expenses are recognised using the effective interest method.

Tax

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Nest Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Straight line with a small number of asset over 10 years, depending on the nature of the assets

Motor Vehicles

25% Straight line

Fixtures & Fittings

20% Straight line; or 2 - 5 years straight line

Computer Equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for the sale of goods and contracts or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Nest Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Deposits that are held in repsect of work that is yet to be completed are deferred to the relveant period and only recognised when the work has been commenced.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Nest Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 31 (2023 - 21).

4

Tangible assets

Fixtures & Fittings
£

Plant & Machinery
£

Computer Equipment
£

Motor Vehicles
 £

(As restated)

Total
£

Cost or valuation

At 1 September 2023

135,987

39,147

40,022

162,532

377,688

Additions

18,188

-

-

100,660

118,848

Disposals

-

-

(2,191)

-

(2,191)

At 31 August 2024

154,175

39,147

37,831

263,192

494,345

Depreciation

At 1 September 2023

60,357

15,458

25,305

23,166

124,286

Charge for the year

46,230

6,242

5,302

55,089

112,863

Eliminated on disposal

-

-

(861)

-

(861)

At 31 August 2024

106,587

21,700

29,746

78,255

236,288

Carrying amount

At 31 August 2024

47,588

17,447

8,085

184,937

258,057

At 31 August 2023

75,634

23,689

14,714

139,365

253,402

The net book value of assets held under hire purchase contracts is £141,702 (2023- £78,263).

The net book value of assets held under finance lease contracts is £54,617 (2023 - £76,135).

 

Nest Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

7,080

32,842

Amounts owed by related parties

9

339,808

300,000

Prepayments

 

19,351

13,602

 

366,239

346,444

Trade debtors are stated after a provision for bad debts of £12,727 (2023 - £Nil)

6

Creditors

Due within one year

Note

2024
£

(As restated)

2023
£

 

Loans and borrowings

7

41,698

24,571

Trade creditors

 

156,134

173,015

Social security and other taxes

 

227,615

179,423

Other creditors

 

18,657

29,923

Accruals

 

220,692

83,385

Corporation tax liability

70,530

129,209

 

735,326

619,526

Due after one year

 

Loans and borrowings

7

187,622

138,870

7

Loans and borrowings

2024
£

(As restated)

2023
£

Non-current loans and borrowings

Hire purchase contracts and finance lease liabilities

187,622

138,870

 

Nest Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2024
£

(As restated)

2023
£

Current loans and borrowings

Hire purchase contracts and finance lease liabilities

41,698

24,571

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

40,552

45,115

Later than one year and not later than five years

21,205

39,582

61,757

84,697

9

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1AC.35, not to disclose related party transactions with other wholly owned members of the group.

Loans to related parties

2024

Other related parties
£

Total
£

Advanced

39,808

39,808

At end of period

39,808

39,808

Terms of loans to related parties

Loans to other related parties are interest free and repayable on demand.

10

Parent and ultimate parent undertaking

The company's immediate parent is Nest Holding Group Ltd, incorporated in England and Wales.

  These financial statements are available upon request from Nest Studios, Unit 18
Eagles Wood Business Park
Woodlands Lane
Bradley Stoke
Bristol
England
BS32 4EU