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REGISTERED NUMBER: 11282162 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Nibu Properties Ltd

Nibu Properties Ltd (Registered number: 11282162)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Nibu Properties Ltd (Registered number: 11282162)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 420,000 410,000

CURRENT ASSETS
Debtors 5 777 482
Cash at bank 31,585 20,487
32,362 20,969
CREDITORS
Amounts falling due within one year 6 149,895 147,081
NET CURRENT LIABILITIES (117,533 ) (126,112 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,467

283,888

CREDITORS
Amounts falling due after more than
one year

7

(240,975

)

(240,975

)

PROVISIONS FOR LIABILITIES (9,468 ) (7,568 )
NET ASSETS 52,024 35,345

Nibu Properties Ltd (Registered number: 11282162)

Statement of Financial Position - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 40,364 32,264
Retained earnings 11,560 2,981
SHAREHOLDERS' FUNDS 52,024 35,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 8 November 2023 and were signed by:





Ms Nicoleta Teunis - Director


Nibu Properties Ltd (Registered number: 11282162)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Nibu Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11282162

Registered office: 01 Meadlake Place
Thorpe Lea Road
Egham
Surrey
TW20 8HE

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.


Nibu Properties Ltd (Registered number: 11282162)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 410,000
Revaluations 10,000
At 31 March 2023 420,000
NET BOOK VALUE
At 31 March 2023 420,000
At 31 March 2022 410,000

The following investment properties are under a charge from Hampshire Trust Bank PLC. The charge was created on 02 December 2019:

21 Stirling Street, Doncaster, DNA 3QS.
59 Stirling Street, Doncaster, DN1 3QS.
1 Prospect Place, Doncaster, DN1 3QP.
27 Ravensworth Road, Doncaster, DN1 2AS.

Nibu Properties Ltd (Registered number: 11282162)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 15,832
Valuation in 2022 24,000
Valuation in 2023 10,000
Cost 370,168
420,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 777 482

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 2,012 744
Other creditors 147,883 146,337
149,895 147,081

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 240,975 240,975

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 240,975 240,975

The loans amounting to 240,975 is secured by the way of charge on the following properties situated at:
21 Stirling Street, Doncaster DN1 3QS.
59 Stirling Street, Doncaster, DN1 3QS.
1 Prospect Place, Doncaster, DN1 3QP.
27 Ravensworth Road, Doncaster, DN1 2AS.

Nibu Properties Ltd (Registered number: 11282162)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 April 2022 32,264
Transfer to/from reserves 8,100

At 31 March 2023 40,364

11. RELATED PARTY DISCLOSURES

The company owes £146,784 to its director, Ms Nicoleta Teunis who is also a sole shareholder of the company as at accounting year end date.