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Registered number: 04960429 NICKOLLS PROPERTIES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2026
NICKOLLS PROPERTIES LIMITED REGISTERED NUMBER: 04960429 BALANCE SHEET AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 1,231 |  | 50
|  |  | 1,231 |  | 50
Current assets |  |  |  |  |
Stocks | 6 | 1,452,726 |  | 1,867,012 |
Debtors: amounts falling due after more than one year | 7 | 1,000,000 |  | - |
Debtors: amounts falling due within one year | 7 | 8,379,486 |  | 14,875,944 |
Cash at bank and in hand |  | 4,171,155 |  | 1,749,815 |
|  | 15,003,367 |  | 18,492,771 |
Creditors: amounts falling due within one year | 8 | (9,001,466) |  | (14,665,926) |
Net current assets |  |  | 6,001,901 |  | 3,826,845
Total assets less current liabilities |  |  | 6,003,132 |  | 3,826,895
Creditors: amounts falling due after more than one year | 9 |  | (2,117,301) |  | (2,920,476)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (308) |  | - |
|  |  | (308) |  | -
Net assets |  |  | 3,885,523 |  | 906,419
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 3,885,423 |  | 906,319
|  |  | 3,885,523 |  | 906,419
Page 1
NICKOLLS PROPERTIES LIMITED REGISTERED NUMBER: 04960429 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2026 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
H J Goddard- Nickolls | P C J Nickolls
Director | Director
Date: 17 August 2026 | Date:17 August 2026
The notes on pages 3 to 8 form part of these financial statements. Page 2
NICKOLLS PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
Nickolls Properties Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is Victoria Court, 17-21 Ashford Road, Maidstone, Kent, ME14 5DA. The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £1. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Going concern
The directors have assessed that there are no significant doubts in the Company's ability to continue as a going concern. As a result, the financial statements have been prepared on a going concern basis.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
NICKOLLS PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 4
NICKOLLS PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.12 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 5
NICKOLLS PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
In preparing the financial statements, management has made judgements, estimates and assumptions that affect the application of the accounting policies and the reporting of the work in progress figure. Costs incurred in respect of the land included in work in progress have been allocated on a proportionate basis. The land has been split into phases and the costs have been allocated against each phase proportionally according to the percentage of total sales. Future obligated costs have been estimated using industry expertise. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
4. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2025 - 3).
5. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 April 2025 | 2,781
| Additions | 1,538
| Disposals | (2,226)
| At 31 March 2026 | 2,093
| Depreciation |
| At 1 April 2025 | 2,731
| Charge for the year | 357
| Disposals | (2,226)
| At 31 March 2026 | 862
| Net book value |
| At 31 March 2026 | 1,231
| At 31 March 2025 | 50
Page 6
NICKOLLS PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
6. | Stocks
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Work in progress | 1,452,726 | 1,867,012
|  | 1,452,726 | 1,867,012
| Land held in work in progress is secured via charges held in relation to its development.
7. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 1,000,000 | -
|  | 1,000,000 | -
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Due within one year |  |
| Amounts owed by group undertakings | 2,478 | 1,038
| Other debtors | 5,026,490 | 14,624,906
| Prepayments and accrued income | 3,350,518 | 250,000
|  | 8,379,486 | 14,875,944
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade creditors | 9,114 | 4,475
| Amounts owed to group undertakings | 2,025,174 | 2,063,174
| Other taxation and social security | 608,161 | 1,711,326
| Other creditors | 96,347 | -
| Accruals and deferred income | 6,262,670 | 10,886,951
|  | 9,001,466 | 14,665,926
Page 7
NICKOLLS PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Other creditors | - | 50,000
| Accruals and deferred income | 2,117,301 | 2,870,476
|  | 2,117,301 | 2,920,476
10. | Related party transactions
| During the year, the directors had interest free loans from the Company. The balances that were outstanding at the year end, and that are shown in other debtors, are as follows:
|  | 2026 | 2025
|  | £ | £
| P C J Nickolls | 126,438 | 126,438
| H J Goddard-Nickolls | 175,475 | 175,475
| L M Taylor | 93,500 | 93,500
|  | 395,413 | 395,413
Page 8