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REGISTERED NUMBER: 12936235 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

NYASA PROPERTIES LTD

NYASA PROPERTIES LTD (REGISTERED NUMBER: 12936235)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NYASA PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Ms V McEwan
Mr N A Omar



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 12936235 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Barclays
Leicester
LE87 2BB

NYASA PROPERTIES LTD (REGISTERED NUMBER: 12936235)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 203,737 203,878

CURRENT ASSETS
Debtors 5 3,126 1,747
Cash at bank 1,179 3,658
4,305 5,405
CREDITORS
Amounts falling due within one year 6 198,720 206,405
NET CURRENT LIABILITIES (194,415 ) (201,000 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,322 2,878

PROVISIONS FOR LIABILITIES 178 178
NET ASSETS 9,144 2,700

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 9,143 2,699
SHAREHOLDERS' FUNDS 9,144 2,700

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 directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2023 and were signed on its behalf by:





Ms V McEwan - Director


NYASA PROPERTIES LTD (REGISTERED NUMBER: 12936235)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Nyasa Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Government grants
During the year the company received the following Government Grants as a result of COVID-19:

Council grant £Nil (2022: £2,667)

Grants are recognised under the accruals model

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

NYASA PROPERTIES LTD (REGISTERED NUMBER: 12936235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 202,939 1,212 204,151
DEPRECIATION
At 1 April 2022 - 273 273
Charge for year - 141 141
At 31 March 2023 - 414 414
NET BOOK VALUE
At 31 March 2023 202,939 798 203,737
At 31 March 2022 202,939 939 203,878

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,126 1,747

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,427 684
Tax 2,483 1,391
Directors' current accounts 192,999 203,064
Accrued expenses 1,811 1,266
198,720 206,405

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2023 and the period ended 31 March 2022:

2023 2022
£    £   
Ms V McEwan
Balance outstanding at start of year (84,064 ) -
Amounts advanced 14,165 7,513
Amounts repaid (2,100 ) (91,577 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (71,999 ) (84,064 )

NYASA PROPERTIES LTD (REGISTERED NUMBER: 12936235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr N A Omar
Balance outstanding at start of year (119,000 ) -
Amounts repaid (2,000 ) (119,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (121,000 ) (119,000 )

Loans are unsecured, interest free and repayable on demand.

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 (2022 - £4,000) were paid to the directors .