COMPANY REGISTRATION NUMBER:
13091800
N.S. PROPERTIES (NORTHERN) LIMITED |
|
Filleted Unaudited Financial Statements |
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N.S. PROPERTIES (NORTHERN) LIMITED |
|
Period from 21 December 2020 to 31 March 2022
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
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N.S. PROPERTIES (NORTHERN) LIMITED |
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Statement of Financial Position |
|
31 March 2022
Fixed assets
Tangible assets |
4 |
|
770,966 |
|
|
|
|
Current assets
Debtors |
5 |
450 |
|
Cash at bank and in hand |
11,664 |
|
|
-------- |
|
|
12,114 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
274,810 |
|
|
--------- |
|
Net current liabilities |
|
262,696 |
|
|
--------- |
Total assets less current liabilities |
|
508,270 |
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
493,825 |
|
|
--------- |
Net assets |
|
14,445 |
|
|
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
Profit and loss account |
|
14,345 |
|
|
-------- |
Shareholders funds |
|
14,445 |
|
|
-------- |
|
|
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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 period ending 31 March 2022 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 period 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
.
N.S. PROPERTIES (NORTHERN) LIMITED |
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Statement of Financial Position (continued) |
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31 March 2022
These financial statements were approved by the
board of directors
and authorised for issue on
12 September 2022
, and are signed on behalf of the board by:
Mr S G Cunniffe |
Mr N A Cunniffe |
Director |
Director |
|
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Company registration number:
13091800
N.S. PROPERTIES (NORTHERN) LIMITED |
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Notes to the Financial Statements |
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Period from 21 December 2020 to 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Abbeyway South Vista Road, Haydock, St. Helens, WA11 0RW, England.
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.
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.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Freehold property |
- |
2% straight line |
|
|
|
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4.
Tangible assets
|
Freehold property |
|
£ |
Cost |
|
At 21 December 2020 |
– |
Additions |
785,514 |
|
--------- |
At 31 March 2022 |
785,514 |
|
--------- |
Depreciation |
|
At 21 December 2020 |
– |
Charge for the period |
14,548 |
|
--------- |
At 31 March 2022 |
14,548 |
|
--------- |
Carrying amount |
|
At 31 March 2022 |
770,966 |
|
--------- |
|
|
5.
Debtors
|
31 Mar 22 |
|
£ |
Other debtors |
450 |
|
---- |
|
|
6.
Creditors:
amounts falling due within one year
|
31 Mar 22 |
|
£ |
Bank loans and overdrafts |
29,080 |
Trade creditors |
541 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
235,000 |
Social security and other taxes |
9,139 |
Other creditors |
1,050 |
|
--------- |
|
274,810 |
|
--------- |
|
|
7.
Creditors:
amounts falling due after more than one year
|
31 Mar 22 |
|
£ |
Bank loans and overdrafts |
493,825 |
|
--------- |
|
|
8.
Related party transactions
The company was under the control of Mr.S.G.Cunniffe throughout the current period. Mr.S.G.Cunniffe is the managing director and majority shareholder. At 31 March 2022 the company owed £235,000 to companies related by common ownership and control.