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REGISTERED NUMBER: SC331420 (Scotland)




















NY Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






NY Holdings Limited (Registered number: SC331420)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NY Holdings Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: W K N Yiu



REGISTERED OFFICE: 4 Warriston Place
Edinburgh
Midlothian
EH3 5LE



REGISTERED NUMBER: SC331420 (Scotland)



BANKERS: Bank of Scotland
38 St. Andrew Square
Edinburgh
EH2 2AD

NY Holdings Limited (Registered number: SC331420)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 50 40
Investment property 5 1,212,142 1,212,142
1,212,192 1,212,182

CURRENT ASSETS
Cash at bank and in hand 7,380 6,704

CREDITORS
Amounts falling due within one year 6 193,376 336,279
NET CURRENT LIABILITIES (185,996 ) (329,575 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,026,196

882,607

CREDITORS
Amounts falling due after more than
one year

7

398,147

359,398
NET ASSETS 628,049 523,209

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 627,949 523,109
SHAREHOLDERS' FUNDS 628,049 523,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NY Holdings Limited (Registered number: SC331420)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2024 and were signed by:





W K N Yiu - Director


NY Holdings Limited (Registered number: SC331420)

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

1. STATUTORY INFORMATION

NY Holdings Limited is a private company, limited by shares , registered in Scotland. 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 represents rental income receivable for the year.

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are shown at their open market value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

This is in accordance with the FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the Companies Act is required in order to give a true and fair view.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.


NY Holdings Limited (Registered number: SC331420)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2023 40
Additions 10
At 31 December 2023 50
NET BOOK VALUE
At 31 December 2023 50
At 31 December 2022 40

NY Holdings Limited (Registered number: SC331420)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,212,142
NET BOOK VALUE
At 31 December 2023 1,212,142
At 31 December 2022 1,212,142

The investment properties are shown at cost. The directors, who are not professional valuers, believe that there was no significant change in the market value of the properties as at 31 December 2019.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 67,533
Taxation and social security 11,089 15,666
Other creditors 182,287 253,080
193,376 336,279

Directors current account is unsecured, interest free and have no fixed term of repayment.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 398,147 359,398

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 398,147 75,845