0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-06 Sage Accounts Production Advanced 2023 - FRS102_2023 670,000 254,078 220,000 704,078 704,078 670,000 xbrli:pure xbrli:shares iso4217:GBP 00589274 2023-04-06 2024-04-05 00589274 2024-04-05 00589274 2023-04-05 00589274 2022-04-06 2023-04-05 00589274 2023-04-05 00589274 2022-04-05 00589274 bus:RegisteredOffice 2023-04-06 2024-04-05 00589274 bus:LeadAgentIfApplicable 2023-04-06 2024-04-05 00589274 bus:Director1 2023-04-06 2024-04-05 00589274 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 00589274 core:WithinOneYear 2024-04-05 00589274 core:WithinOneYear 2023-04-05 00589274 core:ShareCapital 2024-04-05 00589274 core:ShareCapital 2023-04-05 00589274 core:RevaluationReserve 2024-04-05 00589274 core:RevaluationReserve 2023-04-05 00589274 core:CapitalRedemptionReserve 2024-04-05 00589274 core:CapitalRedemptionReserve 2023-04-05 00589274 core:RetainedEarningsAccumulatedLosses 2024-04-05 00589274 core:RetainedEarningsAccumulatedLosses 2023-04-05 00589274 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-05 00589274 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-05 00589274 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-05 00589274 bus:SmallEntities 2023-04-06 2024-04-05 00589274 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 00589274 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 00589274 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00589274 bus:FullAccounts 2023-04-06 2024-04-05
COMPANY REGISTRATION NUMBER: 00589274
Nosdar (Developments) Limited
Filleted Unaudited Financial Statements
For the year ended
5 April 2024
Nosdar (Developments) Limited
Officers and Professional Advisers
Director
Mr K Richardson
Registered office
2 Oldfield Road
Bocam Park
Bridgend
United Kingdom
CF35 5LJ
Accountants
Clay Shaw Thomas Ltd
2 Oldfield Road
Bocam Park
Bridgend
CF35 5LJ
Bankers
National Westminster Bank Plc
103 Colmore Row
Birmingham
West Midlands
B3 3NS
Nosdar (Developments) Limited
Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements
Year ended 5 April 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 5 April 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Clay Shaw Thomas Ltd
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
15 October 2024
Nosdar (Developments) Limited
Statement of Financial Position
5 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
704,078
670,000
Current assets
Stocks
216
216
Debtors
5
601
1,183
Cash at bank and in hand
186,592
224,188
---------
---------
187,409
225,587
Creditors: amounts falling due within one year
6
38,099
10,848
---------
---------
Net current assets
149,310
214,739
---------
---------
Total assets less current liabilities
853,388
884,739
Provisions
60,213
60,213
---------
---------
Net assets
793,175
824,526
---------
---------
Capital and reserves
Called up share capital
53
53
Non-distributable - revaluation reserve
276,700
276,700
Capital redemption reserve
1,239
1,239
Profit and loss account
515,183
546,534
---------
---------
Shareholders funds
793,175
824,526
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Nosdar (Developments) Limited
Statement of Financial Position (continued)
5 April 2024
These financial statements were approved by the board of directors and authorised for issue on 15 October 2024 , and are signed on behalf of the board by:
Mr K Richardson
Director
Company registration number: 00589274
Nosdar (Developments) Limited
Notes to the Financial Statements
Year ended 5 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, Bridgend, CF35 5LJ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rents received and proceeds from sales of property.
Income tax
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 amounts 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 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 assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are valued at the lower of cost and net realisable value.
Provisions
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Tangible assets
Investment property
£
Cost
At 6 April 2023
670,000
Transferred from stock
254,078
Disposals
( 220,000)
---------
At 5 April 2024
704,078
---------
Depreciation
At 6 April 2023 and 5 April 2024
---------
Carrying amount
At 5 April 2024
704,078
---------
At 5 April 2023
670,000
---------
The investment properties were revalued by the director at open market value.
5. Debtors
2024
2023
£
£
Other debtors
601
1,183
----
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
30,127
2,384
Other creditors
7,972
8,464
--------
--------
38,099
10,848
--------
--------
7. Related party transactions
Included in other debtors is a balance of £54 (2023: £54) owing from Birmingham Properties & Investment Co. Limited, a company with common directors and shareholders.