Registered number
03045298
26 NS Freehold Limited
Filleted Accounts
31 December 2023
26 NS Freehold Limited
Registered number: 03045298
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 31,083 31,083
Current assets
Debtors 4 2,427 1,666
Cash at bank and in hand 4,942 6,367
7,369 8,033
Creditors: amounts falling due within one year 5 (36,390) (36,356)
Net current liabilities (29,021) (28,323)
Net assets 2,062 2,760
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,062 1,760
Shareholders' funds 2,062 2,760
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Jeffers
Director
Approved by the board on 8 September 2024
26 NS Freehold Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 31,083
At 31 December 2023 31,083
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 31,083
At 31 December 2022 31,083
The directors consider the useful economic life of the property to be 50 years. In accordance with
FRS 102, depreciation is recognised so as to write off the cost of the property, less its residual
value, over its useful life. The directors have assessed that the residual value of the property,
based on the current market conditions, is likely to be sufficiently high such that depreciation is
immaterial to be provided for within these financial statements.
4 Debtors 2023 2022
£ £
Other debtors 2,427 1,666
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 36,390 36,356
6 Related party transactions
Creditors include a balance of £35,234 (2022: £35,234) due to the directors. These amounts
have been loaned interest free.
7 Other information
26 NS Freehold Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 Narrow street
London
E14 8DQ
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