Registered number
10239338
Nevandi Limited
Filleted Accounts
30 June 2023
Nevandi Limited
Registered number: 10239338
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Investment property 3 14,500,000 14,584,000
14,500,000 14,584,000
Current assets
Debtors 4 95,299 83,196
Cash at bank and in hand 1,535,379 515,282
1,630,678 598,478
Creditors: amounts falling due within one year 5 (11,269,379) (10,923,812)
Net current liabilities (9,638,701) (10,325,334)
Total assets less current liabilities 4,861,299 4,258,666
Provisions for liabilities (405,548) (321,171)
Net assets 4,455,751 3,937,495
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,455,651 3,937,395
Shareholders' funds 4,455,751 3,937,495
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Beeson
Director
Approved by the board on 1 November 2023
Nevandi Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or defecit arising from changes in fair value is recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Interest income
Interest income is recognised in the profit and loss using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Investment property
Investment
property Total
£ £
Cost
At 1 July 2022 14,584,000 14,584,000
Revaluation (84,000) (84,000)
At 30 June 2023 14,500,000 14,500,000
Fair value at 30 June 2023 is represented by:
Valuation in 2019 1,802,521
Valuation in 2021 44,629
Valuation in 2022 (26,000)
Valuation in 2023 (84,000)
Cost 12,762,850
14,500,000
4 Debtors 2023 2022
£ £
Trade debtors 90,934 75,278
Amounts owed by group undertakings 1,297 -
Other debtors 3,068 7,918
95,299 83,196
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 240
Taxation and social security costs 142,293 114,222
Other creditors 11,127,086 10,809,350
11,269,379 10,923,812
7 Other information
Nevandi Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Cobblestone Yard
Bath Row
Stamford
PE9 2RD
Nevandi Limited 10239338 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts April 2022 Mr A Beeson No description of principal activity 10239338 2021-07-01 2022-06-30 10239338 core:WithinOneYear 2022-06-30 10239338 core:ShareCapital 2022-06-30 10239338 core:RetainedEarningsAccumulatedLosses 2022-06-30 10239338 2022-07-01 2023-06-30 10239338 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10239338 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10239338 bus:Director40 2022-07-01 2023-06-30 10239338 1 2022-07-01 2023-06-30 10239338 2 2022-07-01 2023-06-30 10239338 countries:England 2022-07-01 2023-06-30 10239338 bus:FRS102 2022-07-01 2023-06-30 10239338 bus:FullAccounts 2022-07-01 2023-06-30 10239338 2023-06-30 10239338 core:WithinOneYear 2023-06-30 10239338 core:ShareCapital 2023-06-30 10239338 core:RetainedEarningsAccumulatedLosses 2023-06-30 10239338 core:RevaluationsIncreaseDecreaseInInvestments 2023-06-30 10239338 2022-06-30 iso4217:GBP xbrli:pure