REGISTERED NUMBER: |
NAVIGATION COURT LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
REGISTERED NUMBER: |
NAVIGATION COURT LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
NAVIGATION COURT LIMITED (REGISTERED NUMBER: 07216362) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NAVIGATION COURT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Glenewes House |
Gate Way Drive |
Leeds |
West Yorkshire |
LS19 7XY |
NAVIGATION COURT LIMITED (REGISTERED NUMBER: 07216362) |
BALANCE SHEET |
5 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
NAVIGATION COURT LIMITED (REGISTERED NUMBER: 07216362) |
BALANCE SHEET - continued |
5 APRIL 2023 |
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 |
NAVIGATION COURT LIMITED (REGISTERED NUMBER: 07216362) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
1. | STATUTORY INFORMATION |
Navigation Court Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention and in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland' (FRS 102) and the Companies Act 2006. |
Significant judgements and estimates |
The preparation of financial statements in compliance with FRS 102 section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. |
Turnover |
Turnover represents rental income from property. |
Tangible fixed assets |
Plant and machinery | - |
Investment property |
Investment properties are shown at their fair value. Gains are recognised in the fair value reserve which is a non-distributable reserve. |
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold, with the provision adjusted against the fair value reserve. |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss. |
Basic financial instruments |
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans. |
Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
NAVIGATION COURT LIMITED (REGISTERED NUMBER: 07216362) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 6 April 2022 |
and 5 April 2023 |
DEPRECIATION |
At 6 April 2022 |
Charge for year |
At 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
5. | INVESTMENT PROPERTY |
The investment property was last revalued by the directors in 2023. |
Investment property is accounted for using the fair value model. The Directors have assessed the investment property value as at 5 April 2023 and are of the opinion that the revised carrying value is appropriate. |
Fair value at 5 April 2023 is represented by: |
£ |
Valuation in 2013 | 236,883 |
Valuation in 2014 | 300,000 |
Valuation in 2018 | 260,000 |
Valuation in 2020 | 140,000 |
Valuation in 2021 | 100,000 |
Valuation in 2022 | 8,798 |
Valuation in 2023 | 80,000 |
Cost | 874,319 |
2,000,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
NAVIGATION COURT LIMITED (REGISTERED NUMBER: 07216362) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 6 April 2022 |
Fair Value | 59,999 |
At 5 April 2023 |