Nailer Properties Limited - Period Ending 2021-12-31
Nailer Properties Limited - Period Ending 2021-12-31
Registration number:
Nailer Properties Limited
for the Year Ended 31 December 2021
Nailer Properties Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Nailer Properties Limited
Company Information
Directors |
K J Roberts J A Roberts |
Registered office |
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Bankers |
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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Nailer Properties Limited
for the Year Ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nailer Properties Limited for the year ended 31 December 2021 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/
member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Nailer Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Nailer Properties Limited and state those matters that we have agreed to state to the Board of Directors of Nailer Properties Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nailer Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Nailer Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nailer Properties Limited. You consider that Nailer Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Nailer Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Millennium Way
Pride Park
Derby
DE24 8HG
Nailer Properties Limited
(Registration number: 08461340)
Balance Sheet as at 31 December 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Total equity |
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Nailer Properties Limited
(Registration number: 08461340)
Balance Sheet as at 31 December 2021
For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Nailer Properties Limited
Statement of Changes in Equity for the Year Ended 31 December 2021
Share capital |
Fair value reserve |
Profit and loss account |
Total |
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At 1 January 2021 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
Transfers |
- |
50,000 |
(50,000) |
- |
At 31 December 2021 |
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Share capital |
Fair value reserve |
Profit and loss account |
Total |
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At 1 January 2020 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
Transfers |
- |
- |
(46,500) |
(46,500) |
Transfers |
- |
46,500 |
- |
46,500 |
At 31 December 2020 |
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Nailer Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England.
The address of the registered office is given in the company information on page 1 of the financial statements.
The principal place of business is in Belper.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling (£) and rounded to the nearest £1.
Group accounts not prepared
Going concern
The accounts have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants are recognised in profit or loss on a systematic basis over the periods in which the
entity recognises expenses for the related costs for which the grants are intended to compensate,
which in the case of grants related to assets requires setting up the grant as deferred income.
Nailer Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2021
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% reducing balance basis |
Website |
5 years straight line basis |
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Nailer Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2021
Tangible assets |
Furniture, fittings and equipment |
Website |
Total |
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Cost or valuation |
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At 1 January 2021 |
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Additions |
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- |
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At 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
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Charge for the year |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Nailer Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2021
Investment properties |
2021 |
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At 1 January |
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Fair value adjustments |
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At 31 December |
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The fair values of the investment properties were reviewed by the directors at 31 December 2021. The fair values have been determined by carrying out a review of the property and investment yields in the area. These properties were valued at £550,000 (2020 - £500,000).
Investments |
2021 |
2020 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 January 2021 |
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Provision |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Debtors |
2021 |
2020 |
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Other debtors |
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Nailer Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2021
Creditors |
Note |
2021 |
2020 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2021 |
2020 |
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Non-current loans and borrowings |
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Bank borrowings |
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2021 |
2020 |
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Current loans and borrowings |
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Bank borrowings |
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The above bank borrowings are secured on the assets of the company including all investment properties.
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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200 |
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200 |
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100 |
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100 |
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100 |
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100 |
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Nailer Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2021
Related party transactions |
Transactions with directors |
2021 |
At 1 January 2021 |
Advances to directors |
Repayments by director |
At 31 December 2021 |
Interest free loans repayable on demand |
(126) |
( |
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( |
2020 |
At 1 January 2020 |
Advances to directors |
Repayments by director |
At 31 December 2020 |
Interest free loans repayable on demand |
(371) |
( |
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( |
Non adjusting events after the financial period |
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