Company Registration No. NI682131 (Northern Ireland)
N26 Property Ltd
Unaudited accounts
for the year ended 30 September 2023
N26 Property Ltd
Unaudited accounts
Contents
N26 Property Ltd
Company Information
for the year ended 30 September 2023
Company Number
NI682131 (Northern Ireland)
Registered Office
21 Meadow Green
Lisburn
BT28 3PB
Accountants
SJK
8 Bridge Road
Moira
Co. Armagh
BT67 0PF
N26 Property Ltd
Statement of financial position
as at 30 September 2023
Investment property
124,637
124,637
Cash at bank and in hand
11,796
32,238
Creditors: amounts falling due within one year
(1,070)
(534)
Net current assets
10,726
31,704
Total assets less current liabilities
135,363
156,341
Creditors: amounts falling due after more than one year
(133,456)
(156,340)
Called up share capital
1
1
Profit and loss account
1,906
-
Shareholders' funds
1,907
1
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 April 2024 and were signed on its behalf by
A Davidson
Director
Company Registration No. NI682131
N26 Property Ltd
Notes to the Accounts
for the year ended 30 September 2023
N26 Property Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI682131. The registered office is 21 Meadow Green, Lisburn, BT28 3PB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 October 2022
124,637
At 30 September 2023
124,637
Investment properties represent one property acquired in January 2022. The directors are satisfied that no material adjustment is required in respect of the property.
N26 Property Ltd
Notes to the Accounts
for the year ended 30 September 2023
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
682
146
6
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
133,456
156,340
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors current account
(156,341)
24,620
1,735
(133,456)
(156,341)
24,620
1,735
(133,456)
The company owes £133,456 (2022: £156,340) to the directors at year end. These loans are repayable on demand and interest bearing.
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).