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REGISTERED NUMBER: 08789576 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

NABU PROPERTIES LTD

NABU PROPERTIES LTD (REGISTERED NUMBER: 08789576)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NABU PROPERTIES LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: R Nahum
M Bullen





SECRETARY: G Brown





REGISTERED OFFICE: Unit A Clarson Court
130 Gosterwood Street
Deptford
London
SE8 5NY





REGISTERED NUMBER: 08789576 (England and Wales)





ACCOUNTANTS: Riddingtons Ltd
The Old Barn
off Wood Street
Swanley Village
Kent
BR8 7PA

NABU PROPERTIES LTD (REGISTERED NUMBER: 08789576)

Balance Sheet
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,086 38,095
Investment property 5 1,473,940 1,220,874
1,512,026 1,258,969

CURRENT ASSETS
Debtors 6 2,313 9,679
Cash at bank 37,728 36,366
40,041 46,045
CREDITORS
Amounts falling due within one year 7 1,051,646 821,017
NET CURRENT LIABILITIES (1,011,605 ) (774,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

500,421

483,997

CREDITORS
Amounts falling due after more than one
year

8

(316,083

)

(405,898

)

PROVISIONS FOR LIABILITIES (5 ) (7 )
NET ASSETS 184,333 78,092

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 184,233 77,992
SHAREHOLDERS' FUNDS 184,333 78,092

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 directors acknowledge their 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.

NABU PROPERTIES LTD (REGISTERED NUMBER: 08789576)

Balance Sheet - continued
31 DECEMBER 2021


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 Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:





R Nahum - Director


NABU PROPERTIES LTD (REGISTERED NUMBER: 08789576)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Nabu 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
No depreciation is provided for in respect of investment properties in accordance with FRS 102 Section 1A. Such properties are held for their investment potential and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to depreciate them would not enable the financial statements to give a true and fair view. Investment properties are stated at their market value at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

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

NABU PROPERTIES LTD (REGISTERED NUMBER: 08789576)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 38,342
DEPRECIATION
At 1 January 2021 247
Charge for year 9
At 31 December 2021 256
NET BOOK VALUE
At 31 December 2021 38,086
At 31 December 2020 38,095

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 1,220,874
Additions 490,996
Disposals (237,930 )
At 31 December 2021 1,473,940
NET BOOK VALUE
At 31 December 2021 1,473,940
At 31 December 2020 1,220,874

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors - 5,526
Other debtors 2,313 4,153
2,313 9,679

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts - 22,461
Trade creditors - 6,501
Taxation and social security 22,811 4,744
Other creditors 1,028,835 787,311
1,051,646 821,017

NABU PROPERTIES LTD (REGISTERED NUMBER: 08789576)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 316,083 405,898

9. RELATED PARTY DISCLOSURES

Included in creditors is an amount of £1,025,819 (2020 - £784,999 ) due to an associated company, Resonics Limited, which is a company under common control of the directors. No repayment terms have been set and no interest is to be charged.

10. ULTIMATE CONTROLLING PARTY

During the year the company was under the control of M Bullen & R Nahum, the directors.