Nichol & Lee Properties Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10696122

Nichol & Lee Properties Ltd

Filleted Unaudited Financial Statements

31 March 2025

Nichol & Lee Properties Ltd

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	146,499	146,499

Current assets

Cash at bank and in hand	1,502	872

Creditors: amounts falling due within one year	6	600	600
		-------	----
Net current assets		902	272
		---------	---------
Total assets less current liabilities		147,401	146,771

Creditors: amounts falling due after more than one year	7	137,742	137,742
		---------	---------
Net assets		9,659	9,029
		---------	---------

Capital and reserves

Called up share capital	2	2
Revaluation reserve	15,000	15,000
Profit and loss account	( 5,343)	( 5,973)
	--------	--------
Shareholders funds	9,659	9,029
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 year in question 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 financial statements .

Nichol & Lee Properties Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 28 December 2025 , and are signed on behalf of the board by:

J Lee

Director

Company registration number: 10696122

Nichol & Lee Properties Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 32-34 Station Close, Potters Bar, EN6 1TL, Herts.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent from investment property.

Income tax

Current tax is recognised on taxable profit for the current and past periods .

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist.

Financial instruments

Basic financial instruments are initially recognised at the transaction price.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Long leasehold property
	£
Cost
At 1 April 2024 and 31 March 2025	146,499
	---------
Depreciation
At 1 April 2024 and 31 March 2025	–
	---------
Carrying amount
At 31 March 2025	146,499
	---------
At 31 March 2024	146,499
	---------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Other creditors	600	600
	----	----

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	91,913	91,913
Other creditors	45,829	45,829
	---------	---------
	137,742	137,742
	---------	---------

Bank loans are secured on the property they are loaned upon.