IRIS Accounts Production v24.2.0.383 06649140 director 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066491402023-03-31066491402024-03-31066491402023-04-012024-03-31066491402022-03-31066491402022-04-012023-03-31066491402023-03-3106649140ns15:EnglandWales2023-04-012024-03-3106649140ns14:PoundSterling2023-04-012024-03-3106649140ns10:Director12023-04-012024-03-3106649140ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106649140ns10:SmallEntities2023-04-012024-03-3106649140ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106649140ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106649140ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106649140ns10:FullAccounts2023-04-012024-03-3106649140ns10:RegisteredOffice2023-04-012024-03-3106649140ns5:CurrentFinancialInstruments2024-03-3106649140ns5:CurrentFinancialInstruments2023-03-3106649140ns5:ShareCapital2024-03-3106649140ns5:ShareCapital2023-03-3106649140ns5:RetainedEarningsAccumulatedLosses2024-03-3106649140ns5:RetainedEarningsAccumulatedLosses2023-03-3106649140ns5:PlantMachinery2023-04-012024-03-3106649140ns5:PlantMachinery2023-03-3106649140ns5:PlantMachinery2024-03-3106649140ns5:PlantMachinery2023-03-31
REGISTERED NUMBER: 06649140 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

NB Property Developments Limited

NB Property Developments Limited (Registered number: 06649140)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NB Property Developments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: N G Barrett





REGISTERED OFFICE: 57 Heaton Street
Gainsborough
Lincolnshire
DN21 2EF





REGISTERED NUMBER: 06649140 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

NB Property Developments Limited (Registered number: 06649140)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,605 2,006
Investment property 5 962,329 962,329
963,934 964,335

CURRENT ASSETS
Stocks 244,404 244,404
Cash at bank 57,245 10,236
301,649 254,640
CREDITORS
Amounts falling due within one year 6 1,050,797 1,042,144
NET CURRENT LIABILITIES (749,148 ) (787,504 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,786

176,831

PROVISIONS FOR LIABILITIES 9,059 9,059
NET ASSETS 205,727 167,772

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 205,627 167,672
SHAREHOLDERS' FUNDS 205,727 167,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

NB Property Developments Limited (Registered number: 06649140)

Balance Sheet - continued
31 March 2024


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 21 August 2024 and were signed by:





N G Barrett - Director


NB Property Developments Limited (Registered number: 06649140)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

NB Property Developments 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. 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Investment properties
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Full provision has been made on the gains arising from the fair value review of the investment properties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

NB Property Developments Limited (Registered number: 06649140)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 3,713
DEPRECIATION
At 1 April 2023 1,707
Charge for year 401
At 31 March 2024 2,108
NET BOOK VALUE
At 31 March 2024 1,605
At 31 March 2023 2,006

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 962,329
NET BOOK VALUE
At 31 March 2024 962,329
At 31 March 2023 962,329

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2018 506,378
Valuation in 2019 124,680
Valuation in 2020 23,658
Valuation in 2021 78,224
Valuation in 2022 116,746
Valuation in 2023 112,643
962,329

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 11,278 8,887
VAT 1,007 78
Other creditors 67,688 67,688
Directors' current accounts 970,174 964,841
Accrued expenses 650 650
1,050,797 1,042,144

NB Property Developments Limited (Registered number: 06649140)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. ULTIMATE CONTROLLING PARTY

The controlling party is N G Barrett.

The company is controlled by its director. At the year end date the company owed the director £970,174, (2023, £964,841).