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COMPANY REGISTRATION NUMBER: 03283776
N S Planning & Development Ltd
Filleted Unaudited Financial Statements
30 November 2021
N S Planning & Development Ltd
Statement of Financial Position
30 November 2021
2021
2020
Note
£
£
£
Fixed assets
Tangible assets
5
189
Investments
6
1,235,000
1,410,000
------------
------------
1,235,000
1,410,189
Current assets
Debtors
7
3,320
3,320
Cash at bank and in hand
65,458
7,387
--------
--------
68,778
10,707
Creditors: amounts falling due within one year
8
511,375
600,672
---------
---------
Net current liabilities
442,597
589,965
------------
------------
Total assets less current liabilities
792,403
820,224
Creditors: amounts falling due after more than one year
9
289,263
289,263
Provisions
Taxation including deferred tax
50,088
56,444
---------
---------
Net assets
453,052
474,517
---------
---------
N S Planning & Development Ltd
Statement of Financial Position (continued)
30 November 2021
2021
2020
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Fair value reserve
417,176
456,299
Profit and loss account
35,776
18,118
---------
---------
Shareholders funds
453,052
474,517
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 August 2022 , and are signed on behalf of the board by:
Mr C N Stamp
Director
Company registration number: 03283776
N S Planning & Development Ltd
Notes to the Financial Statements
Year ended 30 November 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 St Andrews Road, Bedford, MK40 2LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Deferred taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Equipment
-
20% straight line
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 December 2020 and 30 November 2021
4,276
6,024
10,300
-------
-------
--------
Depreciation
At 1 December 2020
4,087
6,024
10,111
Charge for the year
189
189
-------
-------
--------
At 30 November 2021
4,276
6,024
10,300
-------
-------
--------
Carrying amount
At 30 November 2021
-------
-------
--------
At 30 November 2020
189
189
-------
-------
--------
6. Investments
Freehold Property
£
Cost
At 1 December 2020
1,410,000
Disposals
( 150,000)
Revaluations
( 25,000)
------------
At 30 November 2021
1,235,000
------------
Impairment
At 1 December 2020 and 30 November 2021
------------
Carrying amount
At 30 November 2021
1,235,000
------------
At 30 November 2020
1,410,000
------------
The valuation of investment properties is the estimated market value at the balance sheet date, and is valued by the directors, none of whom hold a relevant qualification. The properties are valued on an open market existing use basis. If the investment properties were included in the balance sheet on an historical cost basis, then the carrying amount would be £767,736.
7. Debtors
2021
2020
£
£
Other debtors
3,320
3,320
-------
-------
8. Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
2,642
4,574
Other creditors
508,733
596,098
---------
---------
511,375
600,672
---------
---------
9. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
289,263
289,263
---------
---------