| Eye Spy Land Limited |
| Notes to the Accounts |
| for the period from 22 May 2025 to 31 March 2026 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Going concern |
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The accounts have been prepared on a going concern basis. The company is supported financially by its parent undertaking, Nicksas Holdings Limited, and the directors are satisfied that adequate financial support will continue to be made available to the company for the foreseeable future. |
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Turnover |
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Turnover represents amounts receivable in respect of rental income and gas royalty income arising in the ordinary course of the company’s activities. Rental income is recognised on a straight-line basis over the period of the related lease. Gas royalty income is recognised when the company’s right to consideration has been established and the amount can be measured reliably in accordance with the terms of the relevant agreements. The company is not registered for value added tax and accordingly turnover is stated without deduction for value added tax. |
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Investment property |
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Investment properties are measured at fair value at each reporting date, with changes in fair value recognised in profit or loss in the period in which they arise. Fair values are determined by reference to independent valuations and market evidence where available. No depreciation is charged in respect of investment property. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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A 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. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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| 2 |
Employees |
2026 |
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| Number |
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Average number of persons employed by the company |
0 |
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| 3 |
Investment property |
Freehold investment property |
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| £ |
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Fair value |
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At 22 May 2025 |
- |
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Additions |
1,540,903 |
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At 31 March 2026 |
1,540,903 |
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Investment property valuation |
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The directors reviewed the value of the investment property at 31 March 2026 with reference to current market conditions and available market evidence and are satisfied that the carrying value represents a reasonable estimate of fair value. |
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| 4 |
Debtors |
2026 |
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| £ |
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Other debtors |
80,288 |
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Included within other debtors is accrued income of £79,062 relating to rental income and gas royalty income earned but not received at the balance sheet date. |
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| 5 |
Creditors: amounts falling due within one year |
2026 |
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| £ |
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Trade creditors |
944 |
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Amounts owed to group undertakings |
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1,494,500 |
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Other creditors |
17,058 |
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1,512,502 |
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| 6 |
Share capital |
2026 |
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| £ |
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Allotted, called up and paid up share capital |
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100 ordinary shares of £0.1 each |
10 |
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10 |
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| 7 |
Related party transactions |
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Amounts owed to group undertakings comprise a balance of £1,494,500 due to the company’s holding company, Nicksas Holdings Limited. The balance is unsecured, interest free and repayable on demand. The funding provided by Nicksas Holdings Limited during the period was used to finance the acquisition and ongoing operation of the company’s investment property. |
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| 8 |
Controlling party |
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The immediate parent undertaking and ultimate controlling party is Nicksas Holdings Limited, a company incorporated in England and Wales. The registered office of Nicksas Holdings Limited is The Estate Office, Quarry Farm, Banbury Road, Great Tew, Chipping Norton, Oxfordshire, OX7 4BT. |
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| 9 |
Other information |
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Eye Spy Land Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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The Estate Office |
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Quarry Farm |
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Great Tew |
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Oxfordshire |
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OX7 4BT |