Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falsecontinues to be that of credit brokering and rental of residential properties.11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03299429 2022-02-01 2023-01-31 03299429 2021-02-01 2022-01-31 03299429 2023-01-31 03299429 2022-01-31 03299429 c:Director1 2022-02-01 2023-01-31 03299429 d:FreeholdInvestmentProperty 2022-02-01 2023-01-31 03299429 d:FreeholdInvestmentProperty 2023-01-31 03299429 d:FreeholdInvestmentProperty 2022-01-31 03299429 d:CurrentFinancialInstruments 2023-01-31 03299429 d:CurrentFinancialInstruments 2022-01-31 03299429 d:Non-currentFinancialInstruments 2023-01-31 03299429 d:Non-currentFinancialInstruments 2022-01-31 03299429 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 03299429 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 03299429 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 03299429 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 03299429 d:ShareCapital 2023-01-31 03299429 d:ShareCapital 2022-01-31 03299429 d:RetainedEarningsAccumulatedLosses 2023-01-31 03299429 d:RetainedEarningsAccumulatedLosses 2022-01-31 03299429 c:OrdinaryShareClass1 2022-02-01 2023-01-31 03299429 c:OrdinaryShareClass1 2023-01-31 03299429 c:OrdinaryShareClass1 2022-01-31 03299429 c:FRS102 2022-02-01 2023-01-31 03299429 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 03299429 c:FullAccounts 2022-02-01 2023-01-31 03299429 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03299429









N T FUNDING LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

 
N T FUNDING LIMITED
REGISTERED NUMBER: 03299429

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,923,699
1,359,161

  
1,923,699
1,359,161

Current assets
  

Debtors
 5 
210,941
39,479

Cash at bank and in hand
  
1,944
115,668

  
212,885
155,147

Creditors: amounts falling due within one year
 6 
(518,645)
(480,940)

Net current liabilities
  
 
 
(305,760)
 
 
(325,793)

Total assets less current liabilities
  
1,617,939
1,033,368

Creditors: amounts falling due after more than one year
 7 
(1,570,034)
(1,005,608)

  

Net assets
  
47,905
27,760


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
47,805
27,660

  
47,905
27,760


Page 1

 
N T FUNDING LIMITED
REGISTERED NUMBER: 03299429
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2023.




Nicholas Fellone
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
N T FUNDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

The company is registered in England and Wales. Its registered office is Tollgate Business Centre, L16 Tollgate Drive, Stafford, ST16 3HS. The company's principal activity continues to be that of credit brokering and rental of residential properties.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
N T FUNDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Page 4

 
N T FUNDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)


 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2022
1,359,161


Additions at cost
564,538



At 31 January 2023
1,923,699

The 2023 valuations were made by the director, on an open market value for existing use basis.





5.


Debtors

2023
2022
£
£

Due after more than one year

Trade debtors
10,100
9,640

10,100
9,640

Due within one year

Trade debtors
83,215
83,215

Other debtors
117,626
(53,376)

210,941
39,479


Page 5

 
N T FUNDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,261
5,045

Corporation tax
7,134
8,553

Other creditors
503,550
464,642

Accruals and deferred income
2,700
2,700

518,645
480,940



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
36,317
41,578

Other loans
1,533,717
964,030

1,570,034
1,005,608



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) ordinary shares of £1.00 each
100
100



9.


Controlling party

The controlling interest in the company is held by Nicholas Fellone.

 
Page 6