REGISTERED NUMBER: 10689233 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE NEST (NORFOLK'S COMMUNITY HUB)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P Knowles

Mr S Collins

Mr J Arnall

Mr S M Balmer-Walters

Mr A Richens

REGISTERED OFFICE:

Norwich City Football Club

Carrow Road

Norwich

Norfolk

NR1 1JE

REGISTERED NUMBER:

10689233 (England and Wales)

AUDITORS:

Sexty & Co

Chartered Certified Accountants

& Statutory Auditor

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

FIXED ASSETS

Tangible assets

5

6,774,030

6,696,864

CURRENT ASSETS

Stocks

183,785

282,070

Debtors

6

335,390

263,803

Cash at bank and in hand

434,736

362,325

953,911

908,198

CREDITORS

Amounts falling due within one year

7

7,391,554

7,060,871

NET CURRENT LIABILITIES

(6,437,643

)

(6,152,673

)

TOTAL ASSETS LESS CURRENT LIABILITIES

336,387

544,191

PROVISIONS FOR LIABILITIES

-

16,023

NET ASSETS

336,387

528,168

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

336,386

528,167

SHAREHOLDERS' FUNDS

336,387

528,168

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 5 September 2025 and were signed on its behalf by:

Mr P Knowles - Director

1.	STATUTORY INFORMATION

The NEST (Norfolk's Community Hub) 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.	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.

The financial statements have been prepared on a going concern basis, which assumed the continued support of the parent company.

The financial statements are presented in pounds sterling and are rounded to the nearest pound.

Turnover

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

Income received in exchange for supplying goods and services in order to raise funds is recognised when entitlement has occurred.

Other income

Rent income is recognised as the company's right to receive payment is established.

Income from donations are recognised on receipt or other notification of entitlement.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold buildings - 25 years straight line

Pitches, bunk boxes and challenge woods - 15 years straight line

Plant & equipment - 10 years straight line

Computer equipment - 10 years straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern

The financial statements have been prepared on a going concern basis, which assumes the continued support of the parent company.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 44 ) .

5.	TANGIBLE FIXED ASSETS

Freehold

Capital

land and

work in

Plant and

Computer

buildings

progress

machinery

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

7,260,621

66,710

370,087

44,915

7,742,333

Additions

42,957

413,753

10,376

1,542

468,628

Disposals

-

-

(895

)

-

(895

)

At 31 December 2024

7,303,578

480,463

379,568

46,457

8,210,066

DEPRECIATION

At 1 January 2024

922,870

-

103,199

19,400

1,045,469

Charge for year

348,792

-

37,356

4,531

390,679

Eliminated on disposal

-

-

(112

)

-

(112

)

At 31 December 2024

1,271,662

-

140,443

23,931

1,436,036

NET BOOK VALUE

At 31 December 2024

6,031,916

480,463

239,125

22,526

6,774,030

At 31 December 2023

6,337,751

66,710

266,888

25,515

6,696,864

Included in cost of freehold land and buildings is freehold land of £317,266 (2023 - £317,266) which is not depreciated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

42,521

70,221

Other debtors

292,869

193,582

335,390

263,803

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

107,464

44,724

Amounts owed to group undertakings

465,102

263,916

Taxation and social security

18,123

14,995

Other creditors

6,800,865

6,737,236

7,391,554

7,060,871

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

I A Barlow (Senior Statutory Auditor)

for and on behalf of Sexty & Co

9.	RELATED PARTY DISCLOSURES

The company has taken the disclosure exemption available as permitted by FRS 102 section 33.1A

not to disclose transactions with group member companies which are also wholly owned subsidiaries

within the same group.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Norwich City Community Sports Foundation (company number 04100611; charity number 1088239), which has the same registered office address.