2023-04-012024-03-312024-03-31false10470345NIRAV THAKKER PROPERTIES 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NIRAV THAKKER PROPERTIES LIMITED

Registered Number
10470345
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

NIRAV THAKKER PROPERTIES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

THAKKER, Nirav, Dr

Registered Address

Fulford Lodge 1 Heslington Lane
Fulford
York
YO10 4HW

Registered Number

10470345 (England and Wales)
NIRAV THAKKER PROPERTIES LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3179,481181,732
179,481181,732
Current assets
Debtors51,4091,405
Cash at bank and on hand1,316860
2,7252,265
Creditors amounts falling due within one year6(95,814)(90,870)
Net current assets (liabilities)(93,089)(88,605)
Total assets less current liabilities86,39293,127
Creditors amounts falling due after one year7(103,431)(105,151)
Provisions for liabilities8(1,710)(2,138)
Net assets(18,749)(14,162)
Capital and reserves
Called up share capital100100
Profit and loss account(18,849)(14,262)
Shareholders' funds(18,749)(14,162)
The financial statements were approved and authorised for issue by the Director on 22 August 2024, and are signed on its behalf by:
THAKKER, Nirav, Dr
Director
Registered Company No. 10470345
NIRAV THAKKER PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. The company relies on the continued support of the directors to continue. Such support has been confirmed and will be made available for as long as the company remains active. The accounts are therefore prepared on the going concern basis.
Turnover policy
The revenue shown in the profit and loss account represents income receivable from the rental of property owned by the company.
Current taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted, or substantively enacted, by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Reducing balance (%)
Fixtures and fittings20
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23184,945
At 31 March 24184,945
Depreciation and impairment
At 01 April 233,213
Charge for year2,251
At 31 March 245,464
Net book value
At 31 March 24179,481
At 31 March 23181,732
4.Impairment of fixed asset investments
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables9131,016
Prepayments and accrued income496389
Total1,4091,405
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts50,60749,063
Amounts owed to related parties44,60741,207
Accrued liabilities and deferred income600600
Total95,81490,870
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts103,431105,151
Total103,431105,151
8.Provisions for liabilities
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

2024

2023

££
Net deferred tax liability (asset)1,7102,138
Total1,7102,138
9.Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
10.Related party transactions
During the period the company was in receipt of loans from the directors. Interest has been charged on the loan which is repayable on demand. At the year end date, the balance owing to the directors totalled £48,034 (2023: £45,638).