Registered number
13418751
NEXA COBALT LIMITED
Filleted Accounts
For the year ended 31 May 2024
NEXA COBALT LIMITED
Registered number: 13418751
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Investment properties 3 66,153,679 65,687,012
Current assets
Cash at bank and in hand 488,229 55,041
Creditors: amounts falling due within one year 4 (597,089) (8,086,123)
Net current liabilities (108,860) (8,031,082)
Total assets less current liabilities 66,044,819 57,655,930
Creditors: amounts falling due after more than one year 5 (14,368,613) (5,951,229)
Provisions for liabilities (12,949,023) (12,949,023)
Net assets 38,727,183 38,755,678
Capital and reserves
Called up share capital 2,000 2,000
Revaluation reserve 6 38,847,068 38,847,068
Profit and loss account (121,885) (93,390)
Shareholders' funds 38,727,183 38,755,678
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Rhee
Director
Approved by the board on 30 May 2025
NEXA COBALT LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
The company had no turnover during the period.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. Changes in fair values are recognised in profit and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of employees (including directors) employed by the company 1 1
3 Investment properties
Investment properties
£
Fair value
At 1 June 2023 65,687,012
Additions 466,667
At 31 May 2024 66,153,679
Depreciation
At 31 May 2024 -
Net book value
At 31 May 2024 66,153,679
At 31 May 2023 65,687,012
Investment properties: 2024 2023
£ £
Historical cost 12,400,000 12,400,000
Cumulative depreciation based on historical cost - -
12,400,000 12,400,000
The fair value of the investment properties has been provided by the management based on their knowledge of the market and current market factors.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other loans - 6,800,000
Trade creditors 786 259,662
Amounts owed to related undertakings 493,713 992,351
Taxation and social security costs 98,365 30,110
Other creditors 4,225 4,000
597,089 8,086,123
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other loans 12,400,000 5,600,303
Amounts owed to related undertakings 1,968,613 350,926
14,368,613 5,951,229
6 Revaluation reserve 2024 2023
£ £
At 1 June 2023 38,847,068 12,199,865
Gain on revaluation of investment properties - 36,734,529
Deferred tax on the revaluation of investment properties - (10,087,326)
At 31 May 2024 38,847,068 38,847,068
7 Related party transactions
During the year the company purchased services amounting to £466,667 (2023: £1,124,254) from Eram Capital Partners Limited, a company with controlling interest in Nexa Cobalt Limited.

Included within creditors due within one year is an amount of £493,713 (2023: £992,351) owed to related entities.

Included within creditors due after more than one year is an amount of £1,968,613 (2023: £350,926) owed to a related Limited.
8 Other information
NEXA COBALT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
128 City Road
London
EC1V 2NX
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