| NEXA COBALT LIMITED |
| Registered number: |
13418751 |
| Balance Sheet |
| as at 31 May 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investment properties |
3 |
|
|
74,530,605 |
|
|
66,153,679 |
|
| Current assets |
| Cash at bank and in hand |
|
|
7,198 |
|
|
488,229 |
|
| Creditors: amounts falling due within one year |
4 |
|
(546,465) |
|
|
(597,089) |
|
| Net current liabilities |
|
|
|
(539,267) |
|
|
(108,860) |
|
| Total assets less current liabilities |
|
|
|
73,991,338 |
|
|
66,044,819 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(14,423,613) |
|
|
(14,368,613) |
|
| Provisions for liabilities |
|
|
|
(14,926,028) |
|
|
(12,949,023) |
|
|
| Net assets |
|
|
|
44,641,697 |
|
|
38,727,183 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2,000 |
|
|
2,000 |
| Revaluation reserve |
6 |
|
|
44,778,084 |
|
|
38,847,068 |
| Profit and loss account |
|
|
|
(138,387) |
|
|
(121,885) |
|
| Shareholders' funds |
|
|
|
44,641,697 |
|
|
38,727,183 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| P Rhee |
| Director |
| Approved by the board on 26 May 2026 |
|
| NEXA COBALT LIMITED |
| Notes to the Accounts |
| for the year ended 31 May 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
Turnover |
|
The company had no turnover during the period. |
|
|
Investment properties |
|
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. Changes in fair values are recognised in profit and loss. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
Current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. |
|
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of employees (including director) employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
| 3 |
Investment properties |
|
|
|
|
|
|
|
|
Investment properties |
| £ |
|
Fair value |
|
At 1 June 2024 |
66,153,679 |
|
Additions |
468,905 |
|
Net gains through fair value adjustments |
7,908,021 |
|
At 31 May 2025 |
74,530,605 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 May 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2025 |
74,530,605 |
|
At 31 May 2024 |
66,153,679 |
|
|
|
|
|
|
|
|
|
|
|
Investment properties: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
14,826,493 |
|
14,357,588 |
|
|
|
|
|
|
14,826,493 |
|
14,357,588 |
|
The fair value of the investment properties has been provided by the management based on their knowledge of the market and current market factors. |
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
1,503 |
|
786 |
|
Amounts owed to related undertakings |
|
440,430 |
|
493,713 |
|
Taxation and social security costs |
97,807 |
|
98,365 |
|
Other creditors |
6,725 |
|
4,225 |
|
|
|
|
|
|
546,465 |
|
597,089 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Other loans |
12,400,000 |
|
12,400,000 |
|
Amounts owed to related undertakings |
|
2,023,613 |
|
1,968,613 |
|
|
|
|
|
|
14,423,613 |
|
14,368,613 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 June 2024 |
38,847,068 |
|
38,847,068 |
|
Gain on revaluation of investment properties |
7,908,021 |
|
- |
|
Deferred tax on the revaluation of investment properties |
(1,977,005) |
|
At 31 May 2025 |
44,778,084 |
|
38,847,068 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
During the year the company purchased services amounting to £468,905 (2024: £466,667) from Eram Capital Partners Limited, a company with controlling interest in Nexa Cobalt Limited.
Included within creditors due within one year is an amount of £440,430 (2024: £493,713) owed to related entities.
Included within creditors due after more than one year is an amount of £2,023,613 (2024: £1,968,613) owed to a related entities. |
|
|
| 8 |
Other information |
|
|
NEXA COBALT LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
128 City Road |
|
London |
|
EC1V 2NX |