Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01falseThe principal activity of the Company is that of the letting and operating of owned or leased real estate.44false 11937518 2022-07-01 2023-06-30 11937518 2021-09-16 2022-06-30 11937518 2023-06-30 11937518 2022-06-30 11937518 c:Director2 2022-07-01 2023-06-30 11937518 c:Director3 2022-07-01 2023-06-30 11937518 c:Director4 2022-07-01 2023-06-30 11937518 c:Director5 2022-07-01 2023-06-30 11937518 c:Director5 2023-06-30 11937518 c:Director6 2022-07-01 2023-06-30 11937518 c:Director6 2023-06-30 11937518 c:RegisteredOffice 2022-07-01 2023-06-30 11937518 d:FreeholdInvestmentProperty 2022-07-01 2023-06-30 11937518 d:FreeholdInvestmentProperty 2023-06-30 11937518 d:FreeholdInvestmentProperty 2022-06-30 11937518 d:FreeholdInvestmentProperty 2 2022-07-01 2023-06-30 11937518 d:CurrentFinancialInstruments 2023-06-30 11937518 d:CurrentFinancialInstruments 2022-06-30 11937518 d:Non-currentFinancialInstruments 2023-06-30 11937518 d:Non-currentFinancialInstruments 2022-06-30 11937518 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11937518 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 11937518 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 11937518 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 11937518 d:ShareCapital 2023-06-30 11937518 d:ShareCapital 2022-06-30 11937518 d:OtherMiscellaneousReserve 2023-06-30 11937518 d:OtherMiscellaneousReserve 2022-06-30 11937518 d:RetainedEarningsAccumulatedLosses 2023-06-30 11937518 d:RetainedEarningsAccumulatedLosses 2022-06-30 11937518 c:FRS102 2022-07-01 2023-06-30 11937518 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 11937518 c:FullAccounts 2022-07-01 2023-06-30 11937518 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11937518 4 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 11937518














NEG ST ANNS LIMITED
(FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2023

 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
 
 
COMPANY INFORMATION


Directors
I Hanokh 
D Liberman 
E Yelizarov 
R B Michael (appointed 31 January 2024)
U Segal (appointed 31 January 2024)




Registered number
11937518



Registered office
385-389 Oxford Street

London

W1C 2NB




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
REGISTERED NUMBER:11937518

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
7,560,000
7,560,000

  
7,560,000
7,560,000

Current assets
  

Debtors
 5 
28,071
103,596

Cash at bank and in hand
  
112,192
72,592

  
140,263
176,188

Creditors: amounts falling due within one year
 6 
(2,658,366)
(2,776,461)

Net current liabilities
  
 
 
(2,518,103)
 
 
(2,600,273)

Total assets less current liabilities
  
5,041,897
4,959,727

Creditors: amounts falling due after more than one year
 7 
(4,674,072)
(4,180,412)

Provisions for liabilities
  

Deferred tax
  
(503,985)
(361,917)

  
 
 
(503,985)
 
 
(361,917)

Net (liabilities)/assets
  
(136,160)
417,398


Capital and reserves
  

Called up share capital 
  
480
480

Other reserves
  
1,511,955
1,555,734

Profit and loss account
  
(1,648,595)
(1,138,816)

  
(136,160)
417,398


Page 1

 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
REGISTERED NUMBER:11937518
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




U Segal
Director

Date: 15 July 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

NEG St Anns Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU.
The principal activity of the company continued to be that of the letting and operating of owned or leased real estate.
The company's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is deemed to be a going concern and therefore the accounts have been prepared on the going concern basis. The directors and shareholders will pay liabilities as they fall due and fulfil negative reserves through the continued support of cash injections. On the basis of the above, the shareholders consider the company to be a going concern for the foreseeable future.

 
2.3

Turnover

Turnover represents rental income received from the company's investment property net of value added tax.
Rental income is recognised on a calendar basis.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
7,560,000


Additions at cost
58,371


Deficit on revaluation
(58,371)



At 30 June 2023
7,560,000

The investment property was valued at 30 June 2023 by the directors with no change in the fair value being required.





5.


Debtors

2023
2022
£
£



Trade debtors
540
20,166

Other debtors
360
56,788

Prepayments and accrued income
27,171
26,642

28,071
103,596



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
2,375,000
2,625,000

Other loans
32,895
-

Trade creditors
39,552
39,575

Other taxation and social security
30,245
-

Other creditors
-
17,587

Accruals and deferred income
180,674
94,299

2,658,366
2,776,461


Page 6

 
NEG ST ANNS LIMITED (FORMERLY PERMITTED DEVELOPMENTS INVESTMENTS NO 12 LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
4,674,072
4,180,412

4,674,072
4,180,412


The following liabilities were secured:

2023
2022
£
£



Bank loans
2,375,000
2,625,000

Other loans
4,706,966
4,180,412

7,081,966
6,805,412

Details of security provided:

The bank loans are secured by way of a fixed and floating charge dated 20 October 2020.
Other loans are secured by way of a fixed and floating charge dated 17 Februrary 2022.


8.


Related party transactions

Included within other creditors are amounts totalling £Nil (2022 - £17,587) owed to an entity previously under common control and ownership.  

 
Page 7