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REGISTERED NUMBER: 09363298 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2021

for

NRZ Properties Ltd

NRZ Properties Ltd (Registered number: 09363298)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NRZ Properties Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTOR: N Hakim





SECRETARY:





REGISTERED OFFICE: Unit 1b Barton Hill Trading Estate
Herapath Street
Barton Hill
Bristol
BS5 9RD





REGISTERED NUMBER: 09363298 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

NRZ Properties Ltd (Registered number: 09363298)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,054 10,054
Investment property 5 8,490,839 6,012,299
8,500,893 6,022,353

CURRENT ASSETS
Debtors 6 40,281 76,396
Cash at bank and in hand 74,449 276,454
114,730 352,850
CREDITORS
Amounts falling due within one year 7 2,184,326 1,370,444
NET CURRENT LIABILITIES (2,069,596 ) (1,017,594 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,431,297

5,004,759

CREDITORS
Amounts falling due after more than one year 8 5,689,728 4,487,014
NET ASSETS 741,569 517,745

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 741,469 517,645
SHAREHOLDERS' FUNDS 741,569 517,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 June 2022 and were signed by:





N Hakim - Director


NRZ Properties Ltd (Registered number: 09363298)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

NRZ Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2021
and 31 December 2021 10,054
NET BOOK VALUE
At 31 December 2021 10,054
At 31 December 2020 10,054

NRZ Properties Ltd (Registered number: 09363298)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 6,012,299
Additions 2,486,381
Disposals (7,841 )
At 31 December 2021 8,490,839
NET BOOK VALUE
At 31 December 2021 8,490,839
At 31 December 2020 6,012,299

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 26,089 6,462
Other debtors - 65,000
NRZ Developments Ltd 14,000 -
VAT - 2,902
Prepayments 192 2,032
40,281 76,396

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 132,065 96,233
Other loans 50,001 -
Trade creditors 11,436 6,109
Tax 51,113 31,725
Social security and other taxes 531 77
Pensions Due 38 76
VAT 13,792 -
Other creditors 34,915 37,647
Matrix Office Supplies Ltd 567,004 316,682
The Electronics Warehouse Ltd 339,192 34,692
Directors' loan accounts 977,302 842,016
Accruals and deferred income 6,937 5,187
2,184,326 1,370,444

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 5,689,728 4,487,014

9. RELATED PARTY DISCLOSURES

Mr Hakim is a director and controlling shareholder of Matrix Office Supplies Ltd.
The Company has an interest free loan from Matrix Office Supplies Ltd and at the period end, owed £567,004 (2020: £316,682).

Mr Hakim is a director and controlling shareholder of The Electronics Warehouse Ltd.
The Company has an interest free loan from The Electronics Warehouse Ltd and at the period end, owed £339,192 (2020: £34,692).

Mr Hakim is a director and controlling shareholder of NRZ Developments Ltd.
The Company has an interest free loan from NRZ Developments Ltd and at the period end, the company was due £14,000 (2020: £Nil).

NRZ Properties Ltd (Registered number: 09363298)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

10. ULTIMATE CONTROLLING PARTY

The controlling party is N Hakim.