NPJ Property Group Ltd 11883821 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is buying and selling properties Digita Accounts Production Advanced 6.30.9574.0 true 11883821 2022-04-01 2023-03-31 11883821 2023-03-31 11883821 bus:OrdinaryShareClass1 2023-03-31 11883821 core:RetainedEarningsAccumulatedLosses 2023-03-31 11883821 core:ShareCapital 2023-03-31 11883821 core:CurrentFinancialInstruments 2023-03-31 11883821 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11883821 core:Non-currentFinancialInstruments 2023-03-31 11883821 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11883821 core:FurnitureFittingsToolsEquipment 2023-03-31 11883821 bus:SmallEntities 2022-04-01 2023-03-31 11883821 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11883821 bus:FullAccounts 2022-04-01 2023-03-31 11883821 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11883821 bus:RegisteredOffice 2022-04-01 2023-03-31 11883821 bus:Director1 2022-04-01 2023-03-31 11883821 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 11883821 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11883821 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 11883821 core:OfficeEquipment 2022-04-01 2023-03-31 11883821 countries:England 2022-04-01 2023-03-31 11883821 2022-03-31 11883821 core:FurnitureFittingsToolsEquipment 2022-03-31 11883821 2021-04-01 2022-03-31 11883821 2022-03-31 11883821 bus:OrdinaryShareClass1 2022-03-31 11883821 core:RetainedEarningsAccumulatedLosses 2022-03-31 11883821 core:ShareCapital 2022-03-31 11883821 core:CurrentFinancialInstruments 2022-03-31 11883821 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 11883821 core:Non-currentFinancialInstruments 2022-03-31 11883821 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 11883821 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registered number: 11883821

NPJ Property Group Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

NPJ Property Group Ltd

Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

124

165

Investment property

5

615,651

615,651

 

615,775

615,816

Current assets

 

Debtors

6

2,252

1,103

Cash at bank and in hand

 

6,499

12,665

 

8,751

13,768

Creditors: Amounts falling due within one year

7

(359,147)

(387,498)

Net current liabilities

 

(350,396)

(373,730)

Total assets less current liabilities

 

265,379

242,086

Creditors: Amounts falling due after more than one year

7

(232,943)

(232,943)

Net assets

 

32,436

9,143

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

32,336

9,043

Shareholders' funds

 

32,436

9,143

For the financial year ending 31 March 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.

Approved and authorised by the director on 21 November 2023
 

N Dee - Director
NPJ Property Group Ltd (Registered number: 11883821)

 

NPJ Property Group Ltd

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

1

General information

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

The address of its registered office is:
c/o Brays, Riverview Court
Castle Gate
Wetherby
West Yorkshire
LS22 6LE

These financial statements were authorised for issue by the director on 21 November 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

NPJ Property Group Ltd

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

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% RB

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.

 

NPJ Property Group Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 during the year, was 0 (2022 - 0).

 

NPJ Property Group Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

294

294

At 31 March 2023

294

294

Depreciation

At 1 April 2022

129

129

Charge for the year

41

41

At 31 March 2023

170

170

Carrying amount

At 31 March 2023

124

124

At 31 March 2022

165

165

5

Investment properties

2023
£

At 1 April

615,651

At 31 March

615,651

There has been no valuation of investment property by an independent valuer. The value shown includes the purchase price and all associated costs incurred. The director has considered he fair value of investment properties at the year end and resolves that the market conditions have results in negligible change in value between the property acquisition costs and the financial year end fair value.

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,212

-

Prepayments

1,040

1,103

 

2,252

1,103

 

NPJ Property Group Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Other creditors

 

357,597

385,998

Accrued expenses

 

1,550

1,500

 

359,147

387,498

Due after one year

 

Loans and borrowings

9

232,943

232,943

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

232,943

232,943

The loans and borrowings represent an interest-only mortgage secured against the investment property.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

232,943

232,943