Registered number
11467794
N.C.N Property Solutions Ltd
Unaudited Filleted Accounts
31 July 2023
N.C.N Property Solutions Ltd
Registered number: 11467794
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 221,665 223,289
Current assets
Debtors 4 46,840 4,855
Cash at bank and in hand 1,760 2,024
48,600 6,879
Creditors: amounts falling due within one year 5 (265,728) (243,234)
Net current liabilities (217,128) (236,355)
Net assets/(liabilities) 4,537 (13,066)
Capital and reserves
Called up share capital 2 2
Profit and loss account 4,535 (13,068)
Shareholders' funds 4,537 (13,066)
The director is 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 director acknowledges her 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.
Mrs N Northover
Director
Approved by the board on 7 February 2024
N.C.N Property Solutions Ltd
Notes to the Accounts
for the year ended 31 July 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).
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:
Freehold buildings Not depreciated
Fixtures, fittings, tools and equipment 20% Reducing Balance
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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Furniture & Fittings Total
£ £ £
Cost
At 1 August 2022 215,167 11,831 226,998
At 31 July 2023 215,167 11,831 226,998
Depreciation
At 1 August 2022 - 3,709 3,709
Charge for the year - 1,624 1,624
At 31 July 2023 - 5,333 5,333
Net book value
At 31 July 2023 215,167 6,498 221,665
At 31 July 2022 215,167 8,122 223,289
4 Debtors 2023 2022
£ £
Trade debtors 43,269 2,585
Other debtors 3,571 2,270
46,840 4,855
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 19,610 26,786
Trade creditors 9,519 3,493
Amounts owed to group undertakings and undertakings in which the company has a participating interest 195,480 172,655
Other creditors 40,393 40,300
265,728 243,234
6 Related party transactions
Loan from Grafton Gale Ltd
Company in which diretor has an interest 195,480 172,655
7 Other information
N.C.N Property Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
22 Cottonwood
Liverpool
Merseyside
L17 7ES
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