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Company No: 10161121 (England and Wales)

NIKLASSON THOMAS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

NIKLASSON THOMAS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

NIKLASSON THOMAS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
NIKLASSON THOMAS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Investment property 3 398,656 398,656
398,656 398,656
Current assets
Debtors 4 100 100
Cash at bank and in hand 2,744 1,155
2,844 1,255
Creditors: amounts falling due within one year 5 ( 254,933) ( 237,019)
Net current liabilities (252,089) (235,764)
Total assets less current liabilities 146,567 162,892
Creditors: amounts falling due after more than one year 6 ( 127,509) ( 145,205)
Net assets 19,058 17,687
Capital and reserves
Called-up share capital 100 100
Profit and loss account 18,958 17,587
Total shareholders' funds 19,058 17,687

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Niklasson Thomas Limited (registered number: 10161121) were approved and authorised for issue by the Board of Directors on 09 June 2025. They were signed on its behalf by:

E Thomas
Director
NIKLASSON THOMAS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
NIKLASSON THOMAS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Niklasson Thomas Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis even though at the Balance Sheet date the Company's current liabilities exceeded its current assets by £252,089

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents rent receivable from the letting of an investment property. Rent receivable from tenants is measured at fair value. Rental income is recognised in the period it arises on an accrual basis in accordance with the terms of the lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

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 each reporting date with changes in fair value recognised in profit or loss.

Where fair value cannot be achieved without undue cost of effort, investment property is accounted for as tangible fixed assets.

The fair value model is determined by the directors with the benefit of professional external valuers and derived from the current markets rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Joint control assets

Joint control in property investments are accounted for in accordance with the requirements of FRS 102 sections 15.6 and 15.7 whereby the company for its own share of assets, liabilities, turnover and expenditure relating to its joint arrangement with third parties.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 April 2024 398,656
As at 31 March 2025 398,656

Niklasson Thomas Limited share in an investment property was valued at £398,179 at the period end by the directors with their knowledge of the industry. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in its loaction, together with a review of property rental yields. The directors are of the opinion that at the balance sheet date the value of the investment properties is similar to their carrying value.

On an historical cost basis the freehold investment property would have been included at an original cost £398,179.

The investment poperty is secured by charges in favour of the company's bankers as detailed in note 6.

4. Debtors

2025 2024
£ £
Other debtors 100 100

5. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans and overdrafts 19,552 27,757
Taxation and social security 334 220
Other creditors 235,047 209,042
254,933 237,019

6. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 127,509 145,205

The loan is secured by a fixed and floating charge over the assets of the company and all monies due or to become due from company.

The bank loan is repayable by 9 September 2031. The interest on the bank is payable at the rate of 3.1% per annum above the base rate.

7. Related party transactions

Other related party transactions

2025 2024
£ £
Other related parties 18,210 18,334

8. Financial commitments, guarantees and contingent liabilities

The company has given legal charge over its investment property to Barclays to secure loan advances to both Niklasson Thomas Limited and the APFEL Trust, a pension scheme which has a joint control in the investment property.