Natser Ltd 10516292 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is rental of investment property. Digita Accounts Production Advanced 6.30.9574.0 true 10516292 2023-01-01 2023-12-31 10516292 2023-12-31 10516292 core:OtherReservesSubtotal 2023-12-31 10516292 core:RetainedEarningsAccumulatedLosses 2023-12-31 10516292 core:ShareCapital 2023-12-31 10516292 core:CurrentFinancialInstruments 2023-12-31 10516292 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10516292 core:Non-currentFinancialInstruments 2023-12-31 10516292 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10516292 core:FurnitureFittingsToolsEquipment 2023-12-31 10516292 bus:SmallEntities 2023-01-01 2023-12-31 10516292 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10516292 bus:FullAccounts 2023-01-01 2023-12-31 10516292 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10516292 bus:RegisteredOffice 2023-01-01 2023-12-31 10516292 bus:Director1 2023-01-01 2023-12-31 10516292 bus:Director2 2023-01-01 2023-12-31 10516292 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10516292 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 10516292 countries:EnglandWales 2023-01-01 2023-12-31 10516292 2022-12-31 10516292 core:FurnitureFittingsToolsEquipment 2022-12-31 10516292 2022-01-01 2022-12-31 10516292 2022-12-31 10516292 core:OtherReservesSubtotal 2022-12-31 10516292 core:RetainedEarningsAccumulatedLosses 2022-12-31 10516292 core:ShareCapital 2022-12-31 10516292 core:CurrentFinancialInstruments 2022-12-31 10516292 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 10516292 core:Non-currentFinancialInstruments 2022-12-31 10516292 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 10516292 core:FurnitureFittingsToolsEquipment 2022-12-31 10516292 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 10516292

Natser Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Natser Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Natser Ltd

Company Information

Directors

Mrs F A Tanna

Mr A Tanna

Registered office

3 Freshwood Close
Beckenham
Kent
BR3 5JX

Accountants

Affinity Associates (Flemmings) Limited
(Trading as Flemmings)
Chartered Accountants
76 Canterbury Road
Surrey
Croydon
CR0 3HA

 

Natser Ltd

(Registration number: 10516292)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

31 December
2022
£

           

Fixed assets

   

 

Tangible assets

4

 

203

 

121

Investment property

5

 

400,000

 

400,000

   

400,203

 

400,121

Current assets

   

 

Debtors

6

1,841

 

2,743

 

Cash at bank and in hand

 

4,015

 

1,484

 

 

5,856

 

4,227

 

Creditors: Amounts falling due within one year

7

(156,376)

 

(154,982)

 

Net current liabilities

   

(150,520)

 

(150,755)

Total assets less current liabilities

   

249,683

 

249,366

Creditors: Amounts falling due after more than one year

7

 

(260,170)

 

(256,325)

Provisions for liabilities

 

(6,956)

 

(6,956)

Net liabilities

   

(17,443)

 

(13,915)

Capital and reserves

   

 

Called up share capital

400

 

400

 

Fair value reserve

29,656

 

29,656

 

Profit and loss account

(47,499)

 

(43,971)

 

Total equity

   

(17,443)

 

(13,915)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

 

Natser Ltd

(Registration number: 10516292)
Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 March 2024 and signed on its behalf by:
 

.........................................

Mr A Tanna
Director

 

Natser Ltd

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

1

General information

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

The address of its registered office is:
3 Freshwood Close
Beckenham
Kent
BR3 5JX
United Kingdom

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements are presented in Pound Sterling, which is the functional currency of the company.

Tax

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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 as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% Straight Line

 

Natser Ltd

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

Investment property

Investment property is property held to earn rentals and/or capital appreciation. Investment property are initially measured at cost, including transaction costs. Subsequently investment property is carried at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Natser Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

2,945

2,945

Additions

272

272

Disposals

(245)

(245)

At 31 December 2023

2,972

2,972

Depreciation

At 1 January 2023

2,824

2,824

Charge for the year

190

190

Eliminated on disposal

(245)

(245)

At 31 December 2023

2,769

2,769

Carrying amount

At 31 December 2023

203

203

At 31 December 2022

121

121

5

Investment properties

31 December
2023
£

31 December
2022
£

At 1 January

400,000

400,000

The investment property was valued on 31 December 2023 by the director of the company who is not a professionally qualified valuer. The valuation was on an open market basis.

The historic cost of the investment property was £363,387. The depreciation on this historical cost is £Nil (2022 - £Nil).
 

There has been no valuation of investment property by an independent valuer.

 

Natser Ltd

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

6

Debtors

Current

31 December
2023
£

31 December
2022
£

Trade debtors

1,316

2,256

Prepayments

525

487

 

1,841

2,743

7

Creditors

Creditors: amounts falling due within one year

Note

31 December
2023
£

31 December
2022
£

Due within one year

 

Trade creditors

 

769

4,620

Directors current account

9

153,272

148,922

Other creditors

 

1,615

-

Accruals and deferred income

 

720

1,440

 

156,376

154,982

Creditors: amounts falling due after more than one year

Note

31 December
2023
£

31 December
2022
£

Due after one year

 

Loans and borrowings

8

260,170

256,325

 

Natser Ltd

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

8

Loans and borrowings

31 December
2023
£

31 December
2022
£

Non-current loans and borrowings

Bank borrowings

260,170

256,325

Bank borrowings
Bank Borrowings are denominated in pound sterling with an interest rate of 5.590% and the final instalment is due on 31 March 2030. The carrying amount at year end is £260,170 (2022 - £256,325).

The bank borrowings are secured by way of:

a) Fixed charge over the company's freehold investment property ;

b) Floating charge over all the property or undertaking of the company.

9

Related party transactions

Other transactions with directors

Mr A Tanna and Mrs F Tanna
(Directors and shareholders)

Mr A Tanna and Mrs F Tanna have provided the company with an interest free loan that is repayable on demand. They will not demand repayment of the loan until the company has sufficient funds available.

At the balance sheet the amount due to Mr A Tanna and Mrs F Tanna was £153,272 (2022 - £148,922)