REGISTERED NUMBER: 06816328 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NIKIMHAS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Shaw

SECRETARY:

M Shaw

REGISTERED OFFICE:

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

REGISTERED NUMBER:

06816328 (England and Wales)

ACCOUNTANTS:

Lemans

Chartered Certified Accountants

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

FIXED ASSETS

Intangible assets

4

67,111

67,915

Investment property

5

3,841,000

3,716,000

3,908,111

3,783,915

CURRENT ASSETS

Debtors

6

1,411,878

1,043,780

Cash at bank

110,256

362,982

1,522,134

1,406,762

CREDITORS

Amounts falling due within one year

7

1,592,266

1,575,269

NET CURRENT LIABILITIES

(70,132

)

(168,507

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,837,979

3,615,408

CREDITORS

Amounts falling due after more than one year

8

(1,644,382

)

(1,461,550

)

PROVISIONS FOR LIABILITIES

(376,219

)

(367,791

)

NET ASSETS

1,817,378

1,786,067

CAPITAL AND RESERVES

Called up share capital

11

750

750

Fair value reserve

12

1,161,628

1,136,344

Retained earnings

12

655,000

648,973

SHAREHOLDERS' FUNDS

1,817,378

1,786,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2025 and were signed by:

M Shaw - Director

1.	STATUTORY INFORMATION

Nikimhas 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property option is being measured at cost.

Investment property

Investment properties are included in the balance sheet at their fair value, fair value is considered to be open market value. Gains and losses are recognised in the profit and loss account when they arise.

As these gains and losses are unrealised they are transferred net of deferred taxation to the fair value reserve, an undistributable reserve.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price.

Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Property

option

£

COST

At 1 January 2024

67,915

Disposals

(804

)

At 31 December 2024

67,111

NET BOOK VALUE

At 31 December 2024

67,111

At 31 December 2023

67,915

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

3,716,000

Additions

91,288

Revaluations

33,712

At 31 December 2024

3,841,000

NET BOOK VALUE

At 31 December 2024

3,841,000

At 31 December 2023

3,716,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

3,841,000

Freehold Investment Properties are valued by the director at the balance sheet date at there open market value. The valuation is based on the present value of each property subject to the particular tenancy which was in force at that date.

Professional guidance is engaged on a regular basis.

The historical cost of the investment properties was £2,303,153 as at 31 December 2023 (2023 - £2,211,865).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

1,382,059

1,043,780

Directors' current accounts

29,819

-

1,411,878

1,043,780

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

22,598

36,001

Other loans

1,520,000

1,482,313

Corporation tax

3,985

7,629

Other creditors

40,000

40,000

Directors' current accounts

-

81

Accrued expenses

5,683

9,245

1,592,266

1,575,269

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

106,317

118,358

Bank loans more 5 yr by instal

1,538,065

1,343,192

1,644,382

1,461,550

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,538,065

1,343,192

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

-

30,000

10.	SECURED DEBTS

Bank loans are secured against the company's properties.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

750

Ordinary

£1

750

750

12.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

648,973

1,136,344

1,785,317

Profit for the year

31,311

31,311

Transfer on revaluation net of deferred taxation

(25,284

)

25,284

-

At 31 December 2024

655,000

1,161,628

1,816,628

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

M Shaw

Balance outstanding at start of year

-

-

Amounts advanced

29,819

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

29,819

-

Interest is being charged on the loan at a rate 2.00%. The amount charged on this loan during the year and credited to the profit and loss account was £143 (2023 - £nil).

14.	RELATED PARTY DISCLOSURES

Included in the balance sheet are the following related party transactions:

Company

Other Debtors

31.12.23

31.12.23

£

£

Alexander Freeholdings Ltd

468

-

Spencer Mason Developments Ltd

56,902

56,902

Alexander-Mason Property Group Ltd

548,950

403,950

JBM Property Group Ltd

306,453

122,649

Mason Alexander Developments Ltd

200,000

317,804

1,112,773

653,305

Mr M Shaw is a director and/or shareholder of the above named companies.