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Registration number: 12442099

NOMS Properties Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

NOMS Properties Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

NOMS Properties Ltd

Company Information

Director

Omarfarook Mahomed Siddiq

Registered office

Pilgrim House
10 Bishop Street
Town Hall Square
Leicester
LE1 6AF

Accountants

UK FD Ltd
Pilgrim House
10 Bishop Street
Town Hall Square
Leicester
LE1 6AF

 

NOMS Properties Ltd

(Registration number: 12442099)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

239

-

Investment property

5

176,582

95,222

 

176,821

95,222

Current assets

 

Debtors

6

63,956

-

Cash at bank and in hand

 

77,001

3,091

 

140,957

3,091

Creditors: Amounts falling due within one year

7

(24,650)

(23,650)

Net current assets/(liabilities)

 

116,307

(20,559)

Total assets less current liabilities

 

293,128

74,663

Creditors: Amounts falling due after more than one year

7

(287,895)

(69,371)

Net assets

 

5,233

5,292

Capital and reserves

 

Called up share capital

8

10,000

10,000

Retained earnings

(4,767)

(4,708)

Shareholders' funds

 

5,233

5,292

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 October 2023
 

 

NOMS Properties Ltd

(Registration number: 12442099)
Balance Sheet as at 28 February 2023 (continued)

.........................................
Omarfarook Mahomed Siddiq
Director

 

NOMS Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Pilgrim House
10 Bishop Street
Town Hall Square
Leicester
LE1 6AF

These financial statements were authorised for issue by the director on 15 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

NOMS Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25%SLM

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

NOMS Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 1).

4

Tangible assets

Office equipment

Total
£

Cost or valuation

Additions

310

310

At 28 February 2023

310

310

Depreciation

Charge for the year

71

71

At 28 February 2023

71

71

Carrying amount

At 28 February 2023

239

239

5

Investment properties

2023
£

At 1 March

95,222

Additions

81,360

At 28 February

176,582

There has been no valuation of investment property by an independent valuer.

 

NOMS Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

6

Debtors

Current

2023
£

2022
£

Trade debtors

145

-

Prepayments

470

-

Other debtors

63,341

-

 

63,956

-

 

NOMS Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,000

-

Accruals and deferred income

900

900

Other creditors

22,750

22,750

24,650

23,650

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

287,895

69,371

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

3,500

3,500

3,500

3,500

Ordinary B of £1 each

3,000

3,000

3,000

3,000

Ordinary C of £1 each

3,500

3,500

3,500

3,500

 

10,000

10,000

10,000

10,000

9

Related party transactions

 

NOMS Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

9

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

2,470

-