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Company No: 10256009 (England and Wales)

# NICK PHELPS HOMES LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

NICK PHELPS HOMES LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

NICK PHELPS HOMES LIMITED

## BALANCE SHEET

As at 30 June 2025
NICK PHELPS HOMES LIMITED

## BALANCE SHEET (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 461 |  | 738
|  | 461 |  | 738
Current assets |  |  |  |
Debtors | 4 | 0 |  | 30,187
Cash at bank and in hand |  | 69,201 |  | 95,841
|  | 69,201 |  | 126,028
Creditors: amounts falling due within one year | 5 | ( 9,850) |  | ( 22,268)
Net current assets |  | 59,351 |  | 103,760
Total assets less current liabilities |  | 59,812 |  | 104,498
Creditors: amounts falling due after more than one year | 6 | ( 22,573) |  | ( 28,055)
Net assets |  | 37,239 |  | 76,443
Capital and reserves |  |  |  |
Called-up share capital |  | 1 |  | 1
Profit and loss account |  | 37,238 |  | 76,442
Total shareholder's funds |  | 37,239 |  | 76,443

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Nick Phelps Homes Limited (registered number: 10256009) were approved and authorised for issue by the Director on 04 February 2026. They were signed on its behalf by:

Mr N Phelps Director |

NICK PHELPS HOMES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
NICK PHELPS HOMES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 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

Nick Phelps Homes 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 1 Felton Road, Lower Parkstone, Poole, BH14 0QR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.

##### Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

##### 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.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment | 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 1 |  | 1

#### 3. Tangible assets

| Office equipment |  | Total
| £ |  | £
Cost |  |  |
At 01 July 2024 | 830 |  | 830
At 30 June 2025 | 830 |  | 830
Accumulated depreciation |  |  |
At 01 July 2024 | 92 |  | 92
Charge for the financial year | 277 |  | 277
At 30 June 2025 | 369 |  | 369
Net book value |  |  |
At 30 June 2025 | 461 |  | 461
At 30 June 2024 | 738 |  | 738

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 0 |  | 30,187

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 5,200 |  | 5,278
Taxation and social security | 1,356 |  | 15,432
Other creditors | 3,294 |  | 1,558
| 9,850 |  | 22,268

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 22,573 |  | 28,055

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2025 |  | 2024
| £ |  | £
Bank loans (repayable by instalments) | 0 |  | 6,940

#### 7. Related party transactions

Transactions with the entity's director

| 2025 |  | 2024
| £ |  | £
As at 1 July 2024 | 30,186 |  | 45,905
Advances to directors | 55,420 |  | 107,617
Repayments by director | (87,028) |  | (123,336)
As at 30 June 2025 | (1,422) |  | 30,186

Interest has been charged in line with HMRC's official rate.