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REGISTERED NUMBER: 10977255 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Nicolyndscot Limited

Nicolyndscot Limited (Registered number: 10977255)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nicolyndscot Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: L K Jones
N C Bradbury





REGISTERED OFFICE: 21 Gold Tops
Newport
NP20 4PG





REGISTERED NUMBER: 10977255 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Nicolyndscot Limited (Registered number: 10977255)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Investment property 5 595,000 595,000

CURRENT ASSETS
Debtors 6 541 541
Cash at bank and in hand 361 2,483
902 3,024
CREDITORS
Amounts falling due within one year 7 147,715 154,299
NET CURRENT LIABILITIES (146,813 ) (151,275 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,187

443,725

CREDITORS
Amounts falling due after more than one
year

8

400,470

402,192
NET ASSETS 47,717 41,533

CAPITAL AND RESERVES
Called up share capital 10 120 120
Retained earnings 47,597 41,413
SHAREHOLDERS' FUNDS 47,717 41,533

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 directors acknowledge their 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.

Nicolyndscot Limited (Registered number: 10977255)

Balance Sheet - continued
30 September 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





L K Jones - Director


Nicolyndscot Limited (Registered number: 10977255)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Nicolyndscot Limited is a private company, limited by shares and is incorporated in England and Wales. The company's registered number is 10977255 and the address of its registered office is 21 Gold Tops, Newport, South Wales, NP20 4PG.

The nature of the company's operations and principal activities are the buying, selling, letting and operating of own or leased real estate.

These financial statements are the company's separate financial statements, covering the year ending 30 September 2024 and are presented in Sterling (£), the company's functional currency, rounded to the nearest pound.

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

2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the going concern basis as the directors believe that the company has the continued support of its bankers and creditors and will be able to obtain sufficient funding to secure the continued financing of the company's activities for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is carried at fair value determined by external valuers and derived from the current market 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. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Nicolyndscot Limited (Registered number: 10977255)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 595,000
NET BOOK VALUE
At 30 September 2024 595,000
At 30 September 2023 595,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2019 (8,675 )
Valuation in 2021 40,000
Cost 563,675
595,000

The directors considered the market value of the investment property at the year end and have made adjustments accordingly.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 541 541

Nicolyndscot Limited (Registered number: 10977255)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Taxation and social security 1,134 -
Other creditors 146,581 154,299
147,715 154,299

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 400,470 402,192

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 400,470 402,192

9. SECURED DEBTS

The bank loans are interest only and are repayable within twenty one years. The loan interest rate being charged is fixed at 3.79% per annum, increasing to 5.49% and 5.85% after the year end.

The bank loans are secured by first legal charges over the investment properties.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
120 Ordinary £1 120 120

11. RELATED PARTY DISCLOSURES

At the year end, £150,774 (2023:£145,709) was owed to those individuals with a participating interest in the company.