NELL_GWYNN_CHELSEA_ACCOMM

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

COMPANY INFORMATION

DIRECTORS

Mr Bill Toomey

Mr Ben Weekes

Mr Brian Morais

Mrs Heather Prentice

Mr Roger Baden-Powell

COMPANY SECRETARY

Mr Bill Toomey

REGISTERED NUMBER

08613870

REGISTERED OFFICE

C/O Steve Smith FCA

(Chartered Accountant)

38 Timbertree Road

Cradley Heath

West Midlands

B64 7LE

ACCOUNTANTS

Steve Smith FCA

(Chartered Accountant)

38 Timbertree Road

Cradley Heath

West Midlands

B64 7LE

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

CONTENTS

Page

Balance Sheet

1

Notes to the financial statements

3

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

BALANCE SHEET

AT 31 DECEMBER 2024

2024

2023

Note

£

FIXED ASSETS

Tangible assets

1

2,514

4,333

CURRENT ASSETS

Stock

11,066

9,007

Debtors

2

42,560

36,362

Cash at bank and in hand

1,175,316

799,105

1,228,942

844,474

CREDITORS: amounts falling due within one year

3

(1,239,006)

(867,307)

NET CURRENT LIABILITIES

(10,064)

(22,833)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,550)

(18,500)

CREDITORS: falling due after one year

4

(85,712)

(114,284)

NET LIABILITIES

(93,262)

(132,784)

CAPITAL AND RESERVES

Called up share capital

5

15,000

Profit and loss account

(108,262)

(147,784)

Shareholders' Funds - deficit

(93,262)

(132,784)

For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Page 1

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

BALANCE SHEET

AT 31 DECEMBER 2024 (continued)

Directors' responsibilities

*

The members have not required the company to obtain an audit of its accounts for the year in accordance with section 476

*

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

*

These accounts have been prepared in accordance with the special provisions of the small companies' regime of the Companies Act 2006

*

As permitted by s444(5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's Profit and Loss Account

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2025.

Mr B Toomey

Director

Page 2

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

GENERAL INFORMATION

The company is incorporated and domiciled in the UK. The address of its registered office is 38 Timbertree Road, Cradley Heath, West Midlands B64 7LE.

STATEMENT OF COMPLIANCE

The financial statements of the company have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, “The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland” (“FRS 102”) and the Companies Act 2006.

ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared on the going concern basis, under the historical cost convention and in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom.

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed below.

The principal accounting policies, which have been applied consistently throughout the year, are set out below.

Exemptions for qualifying entities under FRS 102

FRS 102 allows a qualifying entity certain disclosure exemptions. Exemptions under FRS 102 paragraph 1.12 have been applied in relation to: presentation of a cash flow statement, related party transactions, certain financial instrument disclosures and the non-disclosure of key management personnel compensation.

Going concern

The company is reliant on the ongoing financial support of its parent company Nell Gwynn House Freehold Limited. The directors of that company have pledged to continue to provide financial support for the foreseeable future and consequently, it is appropriate for these financial statements to be prepared on a going concern basis.

Page 3

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

Turnover

PAAG

Turnover consists of commissions earned on the rental of property for property owners and on the provision of associated services to owners and tenants. Revenue is recognised when the rental agreement is completed or the service rendered.

Deferred taxation

Deferred taxation is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax at a future date, at rates expected to apply when they crystallise based on current tax rates and legislation. Timing differences arise from the inclusion of items of income and expenditure in the taxation computation in periods different from those in which they are included in the accounts. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. On the grounds of immateriality deferred tax assets and liabilities are not discounted.

Related parties

As the company is a wholly owned subsidiary of Nell Gwynn House Freehold Limited the company has taken advantage of the exemption contained in FRS 102 paragraph 1.12(e) and has therefore not disclosed details of transactions with its parent entity.

Tangible fixed assets and depreciation

Tangible fixed assets are valued at historic purchase cost less accumulated depreciation. Depreciation is provided to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:

Office equipment - 3 years

Impairment reviews are undertaken by the directors when there is an indication of potential impairment.

Cash Flow Statement

The company has taken advantage of the exemption granted under FRS 102 not to prepare a cash flow statement.

Stock

Stocks are stated at the lower of cost and estimated selling price. Stocks are recognised as an expense in the period in which the related revenue is recognised or the item used in operating activities. Cost is based on purchase price and includes other costs directly attributable to bringing the stock to its present location and condition.

Page 4

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

1.

TANGIBLE FIXED ASSETS

Office

Total

Equipment

£

At 1 January 2024

Cost

6,355

Accumulated depreciation

(2,022)

Net book amount

4,333

Year ended 31 December 2024

Opening net book amount

4,333

Additions

400

Depreciation

(2,219)

Closing net book amount

2,514

At 31 December 2024

Cost

6,755

Accumulated depreciation

(4,241)

Net book amount

2,514

Page 5

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)

2.

DEBTORS

2024

2023

£

Amount due from parent company

38,971

35.354

Prepayments and accrued income

3,589

1,008

42,560

36,362

3.

CREDITORS: amounts falling due within one year

2024

2023

£

Loan from parent company

78,573

57,144

VAT

30,238

28,421

Other creditors

1,034,091

706,438

Accruals and deferred income

96,104

75,304

1,239,006

867,307

4.

CREDITORS: amounts falling due after one year

2024

2023

£

Loan from parent company

85,712

114,284

The company entered into a loan agreement with its parent company dated 22 June 2021. The total amount of the loan was £200,000. It consisted of a transfer from the amount owed on current account, with the parent, of £136,052 and a cash loan of £63,948. The loan is repayable in equal quarterly instalments over 7 years from 1 January 2022 and it carries interest at 2.5% above the Bank of England's Base Rate.

5.

CALLED UP SHARE CAPITAL

2024

2023

£

Authorised, allotted and fully paid

Equity 15,000 Ordinary shares of £1

15,000

NELL GWYNN CHELSEA ACCOMMODATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 20243

(continued)

6.

ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The ultimate parent undertaking and controlling party is Nell Gwynn House Freehold Limited by virtue of its 100% holding of the company's share capital.

Page 7