Registered number
12481895
Nrholdingsmidlands Ltd
Filleted Accounts
28 February 2023
Nrholdingsmidlands Ltd
Registered number: 12481895
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 268,000 253,000
Current assets
Debtors 4 591 551
Cash at bank and in hand 2,642 1,190
3,233 1,741
Creditors: amounts falling due within one year 5 (91,299) (90,437)
Net current liabilities (88,066) (88,696)
Total assets less current liabilities 179,934 164,304
Creditors: amounts falling due after more than one year 6 (134,190) (137,990)
Provisions for liabilities (8,000) (5,000)
Net assets 37,744 21,314
Capital and reserves
Called up share capital 8 100 100
Fair value reserve 9 34,871 22,871
Profit and loss account 2,773 (1,657)
Shareholders' funds 37,744 21,314
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.
J M Salmon
Director
Approved by the board on 24 November 2023
Nrholdingsmidlands Ltd
Notes to the Accounts
for the year ended 28 February 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).

The accounts are presented in sterling which is the functional currency of the company and rounded to the nearest £.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment properties No depreciation charged
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value.

Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise and transferred to a fair value reserve.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis are included in property, plant and equipment at cost less accumulated depreciation and accumulated impairment losses.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Investment properties
£
Cost
At 1 March 2022 253,000
Surplus on revaluation 15,000
At 28 February 2023 268,000
Depreciation
At 1 March 2022 -
At 28 February 2023 -
Net book value
At 28 February 2023 268,000
At 28 February 2022 253,000
Investment properties: 2023 2022
£ £
Historical cost 225,129 225,129
Cumulative depreciation based on historical cost - -
225,129 225,129
Investment properties have been valued by the directors at their market value at the balance sheet date.
4 Debtors 2023 2022
£ £
Trade debtors - 450
Other debtors 500 -
Prepayments and accrued income 91 101
591 551
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 88,838 88,528
Accruals and deferred income 1,811 1,909
Corporation tax 650 -
91,299 90,437
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 134,190 137,990
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 134,190 137,990
The bank loans are secured by first legal mortgages over the investment properties.
8 Share capital 2023 2022
£ £
Allotted, called up and fully paid:
Ordinary shares 100 100
9 Fair value reserve 2023 2022
£ £
At 1 March 2022 22,871 -
Gain on fair value of investment properties 15,000 27,871
Deferred taxation arising on the fair value of investment properties (3,000) (5,000)
At 28 February 2023 34,871 22,871
10 Other information
Nrholdingsmidlands Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
29 Hursey Drive
Tipton
West Midlands
DY4 8TN
Its registered number is: 12481895
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