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Registered number: 12435846
Nugen Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Voila Accounting Ltd
Nugen Properties Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Nugen Properties Ltd
Balance Sheet
As At 31 January 2025
Balance Sheet
Registered number: 12435846

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 1 |  | 5,734
|  |  | 1 |  | 5,734
CURRENT ASSETS
Debtors | 5 | 2,915 |  | 2,118 |
Cash at bank and in hand |  | 1,185 |  | 5,854 |
|  | 4,100 |  | 7,972 |
Creditors: Amounts Falling Due Within One Year | 6 | (44,551 ) |  | (22,305 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (40,451 ) |  | (14,333 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | (40,450 ) |  | (8,599 )
Creditors: Amounts Falling Due After More Than One Year | 7 |  | (7,922 ) |  | (13,082 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | - |  | (2,275 )
NET LIABILITIES |  |  | (48,372 ) |  | (23,956 )
CAPITAL AND RESERVES
Called up share capital | 9 |  | 1,000 |  | 1,000
Profit and Loss Account |  |  | (49,372 ) |  | (24,956 )
SHAREHOLDERS' FUNDS |  |  | (48,372) |  | (23,956)

Page 1
Page 2
Nugen Properties Ltd
Balance Sheet (continued)
As At 31 January 2025
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr G Whiffing Director
28/10/2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Nugen Properties Ltd
Notes to the Financial Statements
For The Year Ended 31 January 2025
Notes to the Financial Statements
1. General Information
Nugen Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12435846 . The registered office is Castle Court Castle Street, Portchester, Fareham, PO16 9QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 3 years straight line
Motor Vehicles | 3 years straight line
Computer Equipment | 3 years straight line

2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
Nugen Properties Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
2.6. Trade and other debtors and creditors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.
2.7. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value
2.8. Shares
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred
and the time value of money is material, the initial measurement is on a present value basis.
2.9. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets

| Plant & Machinery | Motor Vehicles | Computer Equipment | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
Cost
As at 1 February 2024 | 789 | 25,846 | 729 | 27,364
As at 31 January 2025 | 789 | 25,846 | 729 | 27,364
Depreciation
As at 1 February 2024 | 789 | 20,112 | 729 | 21,630
Provided during the period | - | 5,733 | - | 5,733
As at 31 January 2025 | 789 | 25,845 | 729 | 27,363
Net Book Value
As at 31 January 2025 | - | 1 | - | 1
As at 1 February 2024 | - | 5,734 | - | 5,734

Page 4
Page 5
Nugen Properties Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Other debtors | 2,915 |  | 2,118

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 4,418 |  | 4,045
Trade creditors | 2,694 |  | 2,826
Bank loans and overdrafts | 4,120 |  | 4,120
Amounts owed to group undertakings | 10,114 |  | 10,114
Amounts owed to participating interests | 4,647 |  | -
Other creditors | 18,558 |  | 1,200
| 44,551 |  | 22,305

7. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 2,718 |  | 6,771
Bank loans | 5,204 |  | 6,311
| 7,922 |  | 13,082

8. Obligations Under Finance Leases and Hire Purchase

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 4,418 |  | 4,045
Later than one year and not later than five years | 2,718 |  | 6,771
| 7,136 |  | 10,816
| 7,136 |  | 10,816

9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
1,000 Ordinary Shares of £ 1.00 each | 1,000 |  | 1,000

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