For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

Nelsam Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Swift House, Ground Floor, 18 Hoffmanns Way, Chelmsford, Essex, CM1 1GU.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

These financial statements for the year ended 30 September 2025 are the first financial statements of Nelsam Properties Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2023. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

The financial statements have been prepared under the historical cost convention, modified to include investment properties. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Revenue represents the total income earned from renting properties. Rental income is recognised on an accrual basis and is recorded evenly on a straight line basis over the rental term. Any incentives provided to tenants, such as rent-free periods, are spread over the rental term on a straight-line basis.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account and then subsequently transferred to the fair value reserve

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The determination of fair value for investment property at the balance sheet date involves the application of significant judgment and the use of estimates that are subject to uncertainty. These estimates are influenced by factors such as current market conditions, and the availability and relevance of comparable property data including transaction prices for similar properties.

Given the inherent volatility and variability of the property market, actual results may differ from the assumptions used at the reporting date. As a result, changes in these underlying factors could lead to adjustments to the reported fair value in future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

The investment properties comprise of three properties. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director as at 30 September 2025. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

Ordinary shares issued by the company have full voting, dividend, and capital distribution rights.

Ordinary P and Ordinary J shares issued by the company have no voting rights, discretionary dividend rights, and are limited to returns of paid-up capital in the event of a capital distribution.

This set of financial statements is the first prepared under the requirements of FRS102. There are no significant changes in the accounting policies adopted, with the exception of investment property held by the entity now being measured at fair value, with movements in fair value shown in the fair value reserve.

The transition from the previous financial reporting framework did not affect the reported financial position and financial performance of the company, and did not give rise to any movements in equity.

The prior period has been adjusted to include £145,122 of interest income on a loan made to a connected company, the balance was previously included in the intercompany account as amounts due over one year and has been reallocated to interest receivable. Brought forward profit and loss reserves have increased by £145,122 in respect of this. There was an additional corporation tax charge of £34,858.75 in respect of this adjustment which has reduced brought forward profit and loss reserves by this amount.

The prior period has been adjusted to reallocate £1,800,000 of amounts owed to related parties which were previously included as 'creditors: amounts falling due after more than one year' to instead be shown as 'creditors: amounts falling due within one year'. £61,000 included within prior year debtors have also been reallocated against 'creditors: amounts falling due within one year' to reflect an intercompany transaction that was not captured in the prior year accounts.

These adjustments have had no effect upon prior year reserves.

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

Parties included within 'other related parties' are related due to common control over the parties by the shareholders of this entity.

Parties included within 'key management personnel' are defined as the directors of the company and immediate family to any of the directors and shareholders of this entity.

All balances with other related parties and key management personnel are unsecured, and no guarantees have been given or received by any such party. Outstanding balances do not accrue interest.

There are no provisions for uncollectible receivables related to the amount of outstanding balances, and no expense has been recognised during the period in respect of bad or doubtful debts due from related parties.

All liabilities are to be settled via a transfer of funds to the related parties.