Company No: 13304754 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	195,000		200,000
		195,000		200,000
Current assets
Debtors	4	6,712		4,388
Cash at bank and in hand		20,756		10,439
		27,468		14,827
Creditors: amounts falling due within one year	5	( 197,184)		( 193,222)
Net current liabilities		(169,716)		(178,395)
Total assets less current liabilities		25,284		21,605
Provision for liabilities	6	( 2,600)		0
Net assets		22,684		21,605
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account	8	22,584		21,505
Total shareholders' funds		22,684		21,605

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of NISARO Limited (registered number: 13304754) were approved and authorised for issue by the Board of Directors on 10 October 2025. They were signed on its behalf by:

Mr N R Fowler Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

NISARO Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 3 Swifts Units, Pound Lane, Exmouth, EX8 4NP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. The financial statements have therefore been prepared on a going concern basis.

Turnover

Turnover is stated net of VAT and represents rental income receivable. Rental income receivable is accounted for in the period to which it relates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Tangible assets

	Investment property		Total
	£		£
Cost
At 01 April 2024	200,000		200,000
Revaluations	( 5,000)		( 5,000)
At 31 March 2025	195,000		195,000
Accumulated depreciation
At 01 April 2024	0		0
At 31 March 2025	0		0
Net book value
At 31 March 2025	195,000		195,000
At 31 March 2024	200,000		200,000

The directors have considered the investment property value at the balance sheet date. The directors believe that the property's open market value is £195,000 as at the balance sheet date and have therefore reflected this within these accounts accordingly.

4. Debtors

	2025		2024
	£		£
Trade debtors	5,356		4,200
Other debtors	1,356		188
	6,712		4,388

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Taxation and social security	3,875		979
Other creditors	193,309		192,243
	197,184		193,222

6. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	0		0
Charged to the Profit and Loss Account	( 2,600)		0
At the end of financial year	( 2,600)		0

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary share shares of £ 1.00 each	100		100

8. Distributable Reserves

Included within the profit and loss reserve account of £22,550 is £11,231 (2024: £18,865) of non-distributable reserves. This is in respect of the property revaluation, after provision for deferred tax.