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REGISTERED NUMBER: 13173671 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2023

for

NBL CHAPEL LIMITED

NBL CHAPEL LIMITED (REGISTERED NUMBER: 13173671)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NBL CHAPEL LIMITED

Company Information
for the year ended 31 July 2023







Directors: N J T Linnen
B T Linnen





Registered office: Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN





Registered number: 13173671 (England and Wales)





Accountants: Haines Watts Manchester Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

NBL CHAPEL LIMITED (REGISTERED NUMBER: 13173671)

Balance Sheet
31 July 2023

2023 2022
Notes £ £
Current assets
Stocks 1,497,680 2,478,271
Debtors 5 95,100 19,450
Cash at bank and in hand 6,352 711
1,599,132 2,498,432
Creditors
Amounts falling due within one year 6 688,470 640,344
Net current assets 910,662 1,858,088
Total assets less current liabilities 910,662 1,858,088

Creditors
Amounts falling due after more than one
year

7

(923,358

)

(1,894,808

)

Accruals and deferred income (3,135 ) (1,540 )
Net liabilities (15,831 ) (38,260 )

Capital and reserves
Called up share capital 9 2 2
Retained earnings (15,833 ) (38,262 )
Shareholders' funds (15,831 ) (38,260 )

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

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

The directors acknowledge their 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:




N J T Linnen - Director


NBL CHAPEL LIMITED (REGISTERED NUMBER: 13173671)

Notes to the Financial Statements
for the year ended 31 July 2023


1. Statutory information

NBL Chapel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value. Cost includes finance costs and interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account in administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

NBL CHAPEL LIMITED (REGISTERED NUMBER: 13173671)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


3. Accounting policies - continued

Going concern
At 31 July 2023 the company had a profit and loss account surplus of £22,429 (2022 deficit of £38,262).

Whilst the company is dependent on financial support from creditors, the directors consider that the current cashflows are more than sufficient for the company to meet its liabilities as they fall due. The project was completed during the year and the directors are anticipating a profit on the sale of the remaining properties.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that might be necessary if the directors did not provide further support.

4. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

5. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 95,100 19,450

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 40,091 69,351
Taxation and social security 17,967 -
Other creditors 630,412 570,993
688,470 640,344

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 923,358 1,894,808

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 923,358 1,894,808

The company has loans that are secured against the land and buildings held within stock

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2

NBL CHAPEL LIMITED (REGISTERED NUMBER: 13173671)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


10. Directors' advances, credits and guarantees

The directors operate current accounts with the company. At the period end £76,321 was owed to the company by a directors comprising advances of this amount. Interest is charged on the balance outstanding.