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Registration number: 12941843

NSH Properties Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

NSH Properties Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

NSH Properties Ltd

(Registration number: 12941843)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,859,083

1,400,000

Investments

5

2

-

 

1,859,085

1,400,000

Current assets

 

Debtors

6

379,247

37,900

Cash at bank and in hand

 

9,095

29,299

 

388,342

67,199

Creditors: Amounts falling due within one year

7

(1,521,361)

(821,422)

Net current liabilities

 

(1,133,019)

(754,223)

Total assets less current liabilities

 

726,066

645,777

Creditors: Amounts falling due after more than one year

7

(234,203)

(234,203)

Provisions for liabilities

(109,025)

(143,453)

Net assets

 

382,838

268,121

Capital and reserves

 

Called up share capital

100

100

Retained earnings

8

382,738

268,021

Shareholders' funds

 

382,838

268,121

For the financial year ending 31 October 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.

 

NSH Properties Ltd

(Registration number: 12941843)
Statement of Financial Position as at 31 October 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 Income Statement.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

.........................................
Hurum Hussain
Director

 

NSH Properties Ltd

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

1

General information

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

The address of its registered office is:
22 Westfield Road
Edgbaston
Birmingham
B15 3QG

These financial statements were authorised for issue by the Board on 29 July 2024.

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 that as disclosed in the accounting policies certain items are shown at fair value.

The financial statments are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

NSH Properties Ltd

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

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive 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.

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

NSH Properties Ltd

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

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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 income statement 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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either 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.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 0 (2022 - 0).

4

Investment properties

2023
£

At 1 November

1,400,000

Additions

459,083

At 31 October

1,859,083

 

NSH Properties Ltd

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

The last valuation of the properties was at 31 October 2023 by the Directors and they are of the opinion that they are stated at fair value in these accounts.

5

Investments

2023
£

2022
£

Investments in subsidiaries

2

-

Subsidiaries

£

Cost or valuation

Additions

2

Provision

Carrying amount

At 31 October 2023

2

6

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

341,347

-

Other debtors

 

37,900

37,900

   

379,247

37,900

 

NSH Properties Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts due to related parties

1,502,167

805,199

Other payables

 

18,042

15,143

Accruals

 

1,152

1,080

 

1,521,361

821,422

Due after one year

 

Loans and borrowings

234,203

234,203

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

234,203

234,203

2023
£

2022
£

Due after more than five years

After more than five years by instalments

234,203

234,203

-

-

The company has granted a bond and floating charge for all sums due to its bankers in support of its loan agreements along with standard securities over its investment properties.

8

Reserves

2023

2022

£

£

Profit/(loss) - distributable reserve

(82,052)

(162,340)

Revaluation - undistributable reserve

573,814

573,814

Deferred tax - undistributable reserve

(109,024)

(143,453)

382,738

268,021