0 0 17/01/2023 31/05/2024 2024-05-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-01-17 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 14597362 2023-01-17 2024-05-31 14597362 2024-05-31 14597362 2023-01-16 14597362 bus:RegisteredOffice 2023-01-17 2024-05-31 14597362 bus:LeadAgentIfApplicable 2023-01-17 2024-05-31 14597362 bus:Director1 2023-01-17 2024-05-31 14597362 bus:Director2 2023-01-17 2024-05-31 14597362 core:ShareCapital 2023-01-17 2024-05-31 14597362 core:ShareCapital 2024-05-31 14597362 core:PreviouslyStatedAmount core:ShareCapital 2024-05-31 14597362 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-05-31 14597362 core:CostValuation core:Non-currentFinancialInstruments 2024-05-31 14597362 core:Non-currentFinancialInstruments 2024-05-31 14597362 bus:SmallEntities 2023-01-17 2024-05-31 14597362 bus:AuditExempt-NoAccountantsReport 2023-01-17 2024-05-31 14597362 bus:SmallCompaniesRegimeForAccounts 2023-01-17 2024-05-31 14597362 bus:PrivateLimitedCompanyLtd 2023-01-17 2024-05-31 14597362 bus:FullAccounts 2023-01-17 2024-05-31 14597362 1 2023-01-17 2024-05-31
Company registration number: 14597362
No Properties Limited
Unaudited filleted financial statements
31 May 2024
No Properties Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
No Properties Limited
Directors and other information
Directors Mr D Nowell (Appointed 17 January 2023)
Mr E Nowell (Appointed 17 January 2023)
Company number 14597362
Registered office Ribble Terrace
Settle
West Yorkshire
BD24 9DS
Accountants Windle & Bowker
Croft House
Station Road
Barnoldswick
BB18 5NA
No Properties Limited
Statement of financial position
31 May 2024
31/05/24
Note £ £
Fixed assets
Investments 4 6,685,000
_______
6,685,000
Total assets less current liabilities 6,685,000
_______
Net assets 6,685,000
_______
Capital and reserves
Called up share capital 6,685,000
_______
Shareholders funds 6,685,000
_______
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 October 2024 , and are signed on behalf of the board by:
Mr D Nowell
Director
Company registration number: 14597362
No Properties Limited
Statement of changes in equity
Period ended 31 May 2024
Called up share capital Total
£ £
At 17 January 2023 - -
Profit for the period -
_______ _______
Total comprehensive income for the period - -
Issue of shares 6,685,000 6,685,000
_______ _______
Total investments by and distributions to owners 6,685,000 6,685,000
_______ _______
At 31 May 2024 6,685,000 6,685,000
_______ _______
No Properties Limited
Notes to the financial statements
Period ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Bridge End Yard, Ribble Terrace, Settle, West Yorkshire, BD24 9DS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 17 January 2023 - -
Additions 6,685,000 6,685,000
_______ _______
At 31 May 2024 6,685,000 6,685,000
_______ _______
Impairment
At 17 January 2023 and 31 May 2024 - -
_______ _______
Carrying amount
At 31 May 2024 6,685,000 6,685,000
_______ _______
The Company acquired the shares in Weavers Properties Limited and G Nowell Limited from Boontown Holdings Limited a Company under common control of the Directors. The transaction took place on a share for share basis.
5. Controlling party
The Company is controlled 100% by the Directors by way of the 100% shareholding in the Company by them and their spouses.