ACCOUNTS - Final Accounts preparation

Registered number: 12667456

NICHOLAS ESTATES (IPSWICH) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

NICHOLAS ESTATES (IPSWICH) LIMITED

REGISTERED NUMBER: 12667456

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	13,559		7,729
Cash at bank and in hand	5	3,722		22,900
		17,281		30,629
Creditors: amounts falling due within one year	6	(31,053)		(20,846)
Net current (liabilities)/assets			(13,772)		9,783
Total assets less current liabilities			(13,772)		9,783

Net (liabilities)/assets			(13,772)		9,783

Capital and reserves
Called up share capital	7	120	120
Profit and loss account		(13,892)	9,663
		(13,772)	9,783

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2025.

N A Golding	J A Redbond
Director	Director

The notes on pages 2 to 5 form part of these financial statements.

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NICHOLAS ESTATES (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

1.2

Going concern

The company had net liabilities at 31st December 2024 of £13,772. However, the directors are of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In the light of these factors, the directors consider it appropriate to adopt the going concern basis in the preparation of these financial statements.

1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

1.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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NICHOLAS ESTATES (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

1.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

1.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	General information

Nicholas Estates (Ipswich) Limited is a private limited company incorporated in England and Wales. The registered office is 4 Chester Court, Chester Hall Lane, Basildon, Essex, SS14 3WR.

Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

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NICHOLAS ESTATES (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	4,694	5,102
Amounts owed by group undertakings	8,312	35
Prepayments and accrued income	553	2,592
	13,559	7,729

5.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	3,722	22,900
	3,722	22,900

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	1,400	803
Amounts owed to group undertakings	14,000	5,461
Corporation tax	240	240
Other taxation and social security	14,158	13,109
Accruals and deferred income	1,255	1,233
	31,053	20,846

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary A Shares shares of £1.00 each	100	100
20 (2023 - 20) Ordinary B Shares shares of £1.00 each	20	20

	120	120

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NICHOLAS ESTATES (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Pension commitments

The company contributes to a money pension scheme in respect of certain employees. The scheme and
its assets are held by independent managers. The pension charge represents contributions paid by the
company and amounted to £670 (2023 : £1,922).

9.	Related party transactions
	During the year, the company traded with related parties as follows: Parent company: Debtors as at 31st December 2024 £5,242 (2023 : £5,461 Creditor) Fellow Subsidiaries: Debtors as at 31st December 2024 £3,070 (2023 : £35) Creditors as at 31st December 2024 £14,000 (2023 : £nil)

10.	Post balance sheet events

On 6th May 2025, the company cancelled it's 20 Ordinary B shares of £1 each.

11.	Controlling party

100% of the company's Ordinary A shares are owned by Nicholas Estates Limited, a company incorporated in England and Wales.

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