Nationwide Estate Agents Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06261710 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2025

for

NATIONWIDE ESTATE AGENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G C W Forshaw

Mr L R Stericker

SECRETARY:

Mr G C W Forshaw

REGISTERED OFFICE:

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

REGISTERED NUMBER:

06261710 (England and Wales)

ACCOUNTANTS:

BK Plus - Chorley

Chartered Certified Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

25,864

36,757

25,864

36,757

CURRENT ASSETS

Debtors

6

32,090

27,519

Cash at bank and in hand

99,904

103,848

131,994

131,367

CREDITORS

Amounts falling due within one year

7

97,919

108,824

NET CURRENT ASSETS

34,075

22,543

TOTAL ASSETS LESS CURRENT
LIABILITIES

59,939

59,300

CREDITORS

Amounts falling due after more than one
year

8

(2,796

)

(15,887

)

PROVISIONS FOR LIABILITIES

(872

)

(2,630

)

NET ASSETS

56,271

40,783

CAPITAL AND RESERVES

Called up share capital

50

Retained earnings

56,221

40,733

SHAREHOLDERS' FUNDS

56,271

40,783

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st September 2025 and were signed on its behalf by:

Mr G C W Forshaw - Director

1.	STATUTORY INFORMATION

Nationwide Estate Agents Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Revenue recognition

Revenue measured at the fair value of the consideration received or receivable and represents amounts received for services rendered, stated net of discounts and of Value Added Tax.

Goodwill

There are two elements to the goodwill previously acquired by the company. The first element was a reclassification from fixed asset investments to goodwill in 2013, and the second element was the acquisition of an external business in October 2014. Both elements have been fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Taxation

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under operating leases are charged on a straight line basis to the profit and loss account over the relevant period.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

124,884

AMORTISATION

At 1st April 2024

and 31st March 2025

124,884

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1st April 2024

and 31st March 2025

2,550

65,226

11,686

79,462

DEPRECIATION

At 1st April 2024

478

38,575

3,652

42,705

Charge for year

518

8,366

2,009

10,893

At 31st March 2025

996

46,941

5,661

53,598

NET BOOK VALUE

At 31st March 2025

1,554

18,285

6,025

25,864

At 31st March 2024

2,072

26,651

8,034

36,757

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st April 2024

and 31st March 2025

11,686

DEPRECIATION

At 1st April 2024

3,652

Charge for year

2,009

At 31st March 2025

5,661

NET BOOK VALUE

At 31st March 2025

6,025

At 31st March 2024

8,034

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Amounts owed by associates

29,534

21,154

Other debtors

-

4,825

Prepayments

2,556

1,540

32,090

27,519

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts (see note 9)

10,169

10,170

Hire purchase contracts (see note 10)

2,920

Trade creditors

1,036

2,142

Tax

7,696

-

Social security and other taxes

14,763

12,066

Other creditors

451

379

Directors' current accounts

58,984

78,997

Accrued expenses

1,900

2,150

97,919

108,824

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank loans (see note 9)

847

11,017

Hire purchase contracts (see note 10)

1,949

4,870

2,796

15,887

9.

LOANS

The bank loan has been provided by the UK Government under the Bounce Back Loan scheme.

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

Net obligations repayable:

Within one year

2,920

Between one and five years

1,949

4,870

4,869

7,790

Non-cancellable

operating leases

31.3.25

31.3.24

£

Within one year

10,800

Between one and five years

9,000

19,800

30,600

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Hire purchase contracts

4,869

7,790

Hire purchase contracts are secured on the assets to which they relate.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Following advances made during the previous accounting period, at the balance sheet date the company owed £58,984 (2024: £78,997) to the director. No interest has been charged to the company in respect of this loan and it is repayable on demand.

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £29,534 (2024: £21,154) by Nationwide Lettings Limited, a company controlled by the directors. No interest has been charged respect of this loan and there is no formal repayment date.

14.	ULTIMATE CONTROLLING PARTY

Mr G C W Forshaw is the ultimate controlling party by virtue of his holding 100% of the issued ordinary share capital.