N.Y.I Limited 13810209 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of property investment and letting. Digita Accounts Production Advanced 6.30.9574.0 true true 13810209 2023-01-01 2023-12-31 13810209 2023-12-31 13810209 bus:OrdinaryShareClass1 2023-12-31 13810209 core:RetainedEarningsAccumulatedLosses 2023-12-31 13810209 core:CurrentFinancialInstruments 2023-12-31 13810209 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13810209 core:Non-currentFinancialInstruments 2023-12-31 13810209 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 13810209 core:FurnitureFittingsToolsEquipment 2023-12-31 13810209 bus:SmallEntities 2023-01-01 2023-12-31 13810209 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13810209 bus:FullAccounts 2023-01-01 2023-12-31 13810209 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13810209 bus:RegisteredOffice 2023-01-01 2023-12-31 13810209 bus:Director1 2023-01-01 2023-12-31 13810209 bus:Director2 2023-01-01 2023-12-31 13810209 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13810209 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13810209 core:ComputerEquipment 2023-01-01 2023-12-31 13810209 core:FurnitureFittings 2023-01-01 2023-12-31 13810209 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 13810209 core:LandBuildings 2023-01-01 2023-12-31 13810209 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 13810209 countries:EnglandWales 2023-01-01 2023-12-31 13810209 2022-12-31 13810209 core:FurnitureFittingsToolsEquipment 2022-12-31 13810209 2021-12-20 2022-12-31 13810209 2022-12-31 13810209 bus:OrdinaryShareClass1 2022-12-31 13810209 core:RetainedEarningsAccumulatedLosses 2022-12-31 13810209 core:CurrentFinancialInstruments 2022-12-31 13810209 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13810209 core:Non-currentFinancialInstruments 2022-12-31 13810209 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 13810209 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13810209

Prepared for the registrar

N.Y.I Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

N.Y.I Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

N.Y.I Limited

Company Information

Directors

Y Shaltiel

A Shaltiel

Registered office

101 Laurel Way
London
England
N20 8HT

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

N.Y.I Limited

(Registration number: 13810209)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,196

480

Investment property

5

518,273

502,411

 

519,469

502,891

Current assets

 

Debtors

6

2,100

100

Cash at bank and in hand

 

4,007

6,022

 

6,107

6,122

Creditors: Amounts falling due within one year

7

(289,111)

(271,559)

Net current liabilities

 

(283,004)

(265,437)

Total assets less current liabilities

 

236,465

237,454

Creditors: Amounts falling due after more than one year

7

(274,745)

(285,269)

Net liabilities

 

(38,280)

(47,815)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(38,380)

(47,915)

Shareholders' deficit

 

(38,280)

(47,815)

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 March 2024 and signed on its behalf by:
 


Y Shaltiel
Director


A Shaltiel
Director

 

N.Y.I Limited

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:
101 Laurel Way
London
England
N20 8HT

 

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

N.Y.I Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Investment property

0%

Fixtures and fittings

10% written down value

Computer equipment

33% of cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate
determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any
difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit
or loss

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

N.Y.I Limited

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

 

3

Staff numbers

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

 

N.Y.I Limited

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

 

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 January 2023

576

576

Additions

1,000

1,000

At 31 December 2023

1,576

1,576

Depreciation

At 1 January 2023

96

96

Charge for the period

284

284

At 31 December 2023

380

380

Carrying amount

At 31 December 2023

1,196

1,196

At 31 December 2022

480

480

 

5

Investment properties

£

At 1 January 2023

502,411

Additions

15,862

At 31 December 2023

518,273

Upon the purchase of the property on 1 March 2022, the investment property was valued at £435,000 by an independent valuer. The directors do not consider the property value has significantly changed since the valuation was performed.

 

6

Debtors

31 December 2023
 £

31 December 2022
 £

Other debtors

2,100

100

 

2,100

100

 

N.Y.I Limited

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

 

7

Creditors

Note

31 December 2023
 £

31 December 2022
 £

Due within one year

 

Loans and borrowings

8

9,437

9,437

Other creditors

 

277,584

260,522

Accrued expenses

 

2,090

1,600

 

289,111

271,559

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

274,745

285,269

 

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,437

9,437

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

274,745

285,269

 

9

Share capital

Allotted, called up and not fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

N.Y.I Limited

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

 

10

Related party transactions

Summary of transactions with key management


Key management personnel are considered to be the directors of the company.

As at 31 December 2023, the directors' owed the company £nil (2022: £100).

 

Marshalswick Veterinary Clinic Limited

As at 31 December 2023, N.Y.I Limited owed Marshalswick Veterinary Clinic Limited £157,211 (2022: £155,010). This is included in other creditors. There are no fixed repayment terms and no interest is charged. All transactions were on an arms length basis.

Garden Village Vets Limited

As at 31 December 2023, N.Y.I Limited owed Garden Village Vets Limited £120,373 (2022: £105,512). This is included in other creditors. There are no fixed repayment terms and no interest is charged. All transactions were on an arms length basis.