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REGISTERED NUMBER: 10477283 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

NPL2016 LIMITED

NPL2016 LIMITED (REGISTERED NUMBER: 10477283)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NPL2016 LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: R M Hart
Mrs W Slater
Mrs K M Jeffers
Mrs H A Bradley





REGISTERED OFFICE: Unit 85 Bison Place
Moss Side Industrial Estate
Leyland
Lancashire
PR26 7QR





REGISTERED NUMBER: 10477283 (England and Wales)





AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

NPL2016 LIMITED (REGISTERED NUMBER: 10477283)

STATEMENT OF FINANCIAL POSITION
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,600,000 2,600,000

CURRENT ASSETS
Debtors 5 389,031 335,764
Cash at bank 445,669 354,162
834,700 689,926
CREDITORS
Amounts falling due within one year 6 2,347,062 2,342,662
NET CURRENT LIABILITIES (1,512,362 ) (1,652,736 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,087,638

947,264

PROVISIONS FOR LIABILITIES 7 216,028 214,058
NET ASSETS 871,610 733,206

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 8 161,946 161,946
Retained earnings 709,663 571,259
SHAREHOLDERS' FUNDS 871,610 733,206

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 Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




R M Hart - Director



Mrs W Slater - Director


NPL2016 LIMITED (REGISTERED NUMBER: 10477283)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

NPL2016 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.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The directors continue to prepare the accounts on a going concern basis. The company is reliant upon the support of its parent company. At the reporting date £2,297,448 was due to the parent company and is repayable upon demand. There is no indication that the parent company is unable or unwilling to provide ongoing support. On this basis the directors feel it is appropriate to continue to prepare the accounts on a going concern basis.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, trade creditors and accruals.

Financial assets and liabilities that are payable or receivable within one year, typically bank accounts, trade debtors, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash consideration that is expected to be paid or received.

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 statement of financial position date.


NPL2016 LIMITED (REGISTERED NUMBER: 10477283)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Other income
Rents receivable represent the value of rents receivable, excluding value added tax.

Rents are recognised in the period to which it relates. Rents are measured at the fair value of the consideration received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 2,600,000
NET BOOK VALUE
At 30 November 2023 2,600,000
At 30 November 2022 2,600,000

Investment property was valued on a fair value basis on 5 March 2023 by Robert Pinkus & Co, an independent RICS registered valuer. The directors have relied upon this valuation to establish the fair value of investment property at 30 November 2023..

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors - 17,000
Other debtors 284,607 114,042
284,607 131,042

Amounts falling due after more than one year:
Other debtors 104,424 204,722

Aggregate amounts 389,031 335,764

NPL2016 LIMITED (REGISTERED NUMBER: 10477283)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 714
Amounts owed to group undertakings 2,297,448 2,297,448
Taxation and social security 45,614 36,760
Other creditors 4,000 7,740
2,347,062 2,342,662

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 216,028 214,058

Deferred
tax
£   
Balance at 1 December 2022 214,058
Provided during year 1,970
Balance at 30 November 2023 216,028

8. RESERVES
Fair
value
reserve
£   
At 1 December 2022
and 30 November 2023 161,946

Fair value reserve is a non distributable reserve representing cumulative investment property revaluation gains and losses.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Edgerton FCA Cert PFS (Senior Statutory Auditor)
for and on behalf of Fairhurst

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year:

Monies advanced during the year £175,624 (2022: £nil)
Amounts repaid to the company during the year £nil (2022: £21,000)
Balance due to the company at the reporting date £175,624 (2022: £nil)

The amounts advanced are unsecured, interest has been charged at the official rate and £173,500 of the amount advanced has been repaid to the company within nine months of the reporting date.

NPL2016 LIMITED (REGISTERED NUMBER: 10477283)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

11. RELATED PARTY DISCLOSURES

Nitecrest Properties Limited
Parent company

At the reporting date £2,297,448 (2022: £2,297,448) is due to Nitecrest Properties Limited. This amount is unsecured and is repayable upon demand.

12. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Nitecrest Properties Limited, a company registered in England and Wales, under common directorship and in which the directors have full and equal shareholdings.