Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Investment properties | 4 | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | 8 | ||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
A I M Nevill | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover | ||||||||
Tangible fixed assets | ||||||||
Leasehold land and buildings | over the lease term | |||||||
Fixtures, fittings & computer equipment | 25% on reducing balance | |||||||
Motor vehicles | 25% on reducing balance | |||||||
Investments property | ||||||||
Stocks | ||||||||
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
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Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Employee benefits | ||||||||
When employees have rendered service to the company, short term employer benefits to which the employees are entitled are recognised at the undiscounted amount to be paid in exchange for that service. | ||||||||
Provisions | ||||||||
Foreign currency translation | ||||||||
Leased assets | ||||||||
Pensions | ||||||||
Going concern | ||||||||
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. | ||||||||
2 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Leasehold land and buildings | Fixtures, fittings & computer equipment | Motor vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 August 2022 | ||||||||
Additions | - | - | ||||||
Disposals | - | ( |
- | ( |
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At 31 July 2023 | ||||||||
Depreciation | ||||||||
At 1 August 2022 | ||||||||
Charge for the year | - | |||||||
On disposals | - | ( |
- | ( |
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At 31 July 2023 | ||||||||
Net book value | ||||||||
At 31 July 2023 | - | |||||||
At 31 July 2022 | - | |||||||
4 | Investment property | |||||||
Investment | ||||||||
property | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 August 2022 | ||||||||
At 31 July 2023 | ||||||||
Investment property comprises costs relating to the development of a property. As the property has not yet reached completion, fair value is considered to be the same as cost. | ||||||||
5 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
7 | Creditors: amounts falling due after one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans | ||||||||
Other creditors | - | |||||||
The bank loans are secured upon properties owned by the company's director. | ||||||||
8 | Share capital | Nominal | 2023 | 2023 | 2022 | |||
value | Number | £ | £ | |||||
Allotted, called up and fully paid: | ||||||||
£ |
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9 | Other financial commitments | 2023 | 2022 | |||||
£ | £ | |||||||
Total future minimum payments under non-cancellable operating leases | ||||||||
10 | Loans to directors | |||||||
Description and conditions | B/fwd | Paid | Repaid | C/fwd | ||||
£ | £ | £ | £ | |||||
( |
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3,214,510 | 381,552 | (60,000) | 3,536,062 | |||||
This loan is included within other debtors. The maximum amount owed during the year was £3,536,062 (2022 - £3,214,510) and the increase in the balance was the net result of advances made and dividends paid. Interest of £65,984 (2022 - £61,886) was receivable by the company during the year in respect of this loan and is calculated at a rate of 2% -2.25%. Accrued interest outstanding at year end was £25,268 (2022 - £20,239) | ||||||||
11 | Related party transactions | |||||||
Nevill Estate Company Limited - a company with a director in common have been charged in previous years project management fees for the redevelopment of a property with £15,000 (2022- £15,000) included in creditors at the year end. |
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12 | Other information | |||||||
Nevill Keating Pictures Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
5 Pickering Place | ||||||||
St James's Street | ||||||||
London | ||||||||
SW1A 1EA |