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REGISTERED NUMBER: 04572918 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024

FOR

NICK VEASEY LTD

NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 256,165 257,331
Investment property 6 630,000 648,253
886,165 905,584

CURRENT ASSETS
Debtors 7 72,826 72,111
Cash at bank 72,948 28,926
145,774 101,037
CREDITORS
Amounts falling due within one year 8 129,105 178,600
NET CURRENT ASSETS/(LIABILITIES) 16,669 (77,563 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

902,834

828,021

CREDITORS
Amounts falling due after more than
one year

9

(145,816

)

(125,628

)

PROVISIONS FOR LIABILITIES 12 (5,228 ) (2,863 )
NET ASSETS 751,790 699,530

CAPITAL AND RESERVES
Called up share capital 13 100 100
Revaluation reserve (13,690 ) -
Retained earnings 765,380 699,430
SHAREHOLDERS' FUNDS 751,790 699,530

NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

BALANCE SHEET - continued
30 SEPTEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 June 2025 and were signed by:





Mr N Veasey - Director


NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Nick Veasey Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04572918

Registered office: Process Gallery
Sandway Road
Sandway
Lenham
Kent
ME17 2LU

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover shown in the Profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - in accordance with the property
Fixtures, fittings & equipment - 25% on cost
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

Investment property
Investment property is shown at the valuation at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings Motor
improvements & equipment vehicles Totals
£    £    £    £   
COST
At 1 October 2023 225,660 275,919 78,876 580,455
Additions - 13,946 10,250 24,196
At 30 September 2024 225,660 289,865 89,126 604,651
DEPRECIATION
At 1 October 2023 24,756 263,468 34,900 323,124
Charge for year 4,513 9,001 11,848 25,362
At 30 September 2024 29,269 272,469 46,748 348,486
NET BOOK VALUE
At 30 September 2024 196,391 17,396 42,378 256,165
At 30 September 2023 200,904 12,451 43,976 257,331

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 648,253
Revaluations (18,253 )
At 30 September 2024 630,000
NET BOOK VALUE
At 30 September 2024 630,000
At 30 September 2023 648,253

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2023 648,252
Valuation in 2024 (18,252 )
630,000

NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,919 42,084
Amounts receivable on contracts 20,000 20,683
Other debtors 2,475 5,775
VAT 3,155 1,888
Prepayments and accrued income 1,277 1,681
72,826 72,111

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 36,464 90,063
Trade creditors 7,504 4,338
Corporation tax 41,725 75,198
PAYE and social security 978 1,081
Other creditors 4,413 2,913
Wages control account 281 -
Director's current account 33,707 300
Accruals and deferred income 4,033 4,707
129,105 178,600

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other loans - 1-2 years 36,464 40,000
Other loans - 2-5 years 109,352 85,628
145,816 125,628

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 53,400 32,000

NICK VEASEY LTD (REGISTERED NUMBER: 04572918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Nick Veasey Ltd SSAS 129,164 165,628

Nick Veasey Ltd SSAS has a charge over the Freehold property.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,228 2,863

Deferred
tax
£   
Balance at 1 October 2023 2,863
Provided during year 2,365
Balance at 30 September 2024 5,228

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100