REGISTERED NUMBER: 05834832 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

NIMS ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

N C Ruparellia

Secretary:

Mrs L Ruparellia

Registered office:

3rd Floor

86-90 Paul Street

London

EC2A 4NE

Registered number:

05834832 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Fixed assets

Tangible assets

4

204,575

205,320

Investments

5

24,990

24,990

229,565

230,310

Current assets

Debtors

6

8,502

8,502

Investments

7

680

620

Cash at bank

47,956

57,201

57,138

66,323

Creditors

Amounts falling due within one year

8

85,675

101,234

Net current liabilities

(28,537

)

(34,911

)

Total assets less current liabilities

201,028

195,399

Creditors

Amounts falling due after more than one year

9

160,999

160,999

Net assets

40,029

34,400

Capital and reserves

Called up share capital

11

2

2

Retained earnings

40,027

34,398

Shareholders' funds

40,029

34,400

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2025 and were signed by:

N C Ruparellia - Director

1.	Statutory information

Nims Associates 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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

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

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

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.

3.	Employees and directors

The average number of employees during the year was 3 (2023 - 2 ) .

4.	Tangible fixed assets

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Cost

At 1 January 2024

203,375

2,078

9,465

214,918

Additions

-

-

789

789

At 31 December 2024

203,375

2,078

10,254

215,707

Depreciation

At 1 January 2024

-

1,585

8,013

9,598

Charge for year

-

123

1,411

1,534

At 31 December 2024

-

1,708

9,424

11,132

Net book value

At 31 December 2024

203,375

370

830

204,575

At 31 December 2023

203,375

493

1,452

205,320

5.	Fixed asset investments

Other

investments

£

Cost

At 1 January 2024

and 31 December 2024

24,990

Net book value

At 31 December 2024

24,990

At 31 December 2023

24,990

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Other debtors

8,502

8,502

7.	Current asset investments

2024

2023

£

£

Listed investments

680

620

8.

Creditors: amounts falling due within one year

2024

2023

£

£

Tax

1,540

1,209

Net wages

1,400

-

Directors' current accounts

81,536

73,425

Accruals and deferred income

1,199

26,600

85,675

101,234

9.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans more 5 yrs non-inst

160,999

160,999

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

160,999

160,999

10.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

160,999

160,999

The bank loan is secured on the freehold property.

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

£1

2

2