Silverfin false false 29/02/2024 27/02/2023 29/02/2024 S Zsifkov 27/02/2023 A Zsifkov-Gavra 27/02/2023 19 October 2024 The principal activity of the company during the financial period was letting and operating of own or leased real estate. 14692624 2024-02-29 14692624 bus:Director1 2024-02-29 14692624 bus:Director2 2024-02-29 14692624 core:CurrentFinancialInstruments 2024-02-29 14692624 core:ShareCapital 2024-02-29 14692624 core:RetainedEarningsAccumulatedLosses 2024-02-29 14692624 core:OtherPropertyPlantEquipment 2023-02-26 14692624 2023-02-26 14692624 core:OtherPropertyPlantEquipment 2024-02-29 14692624 bus:OrdinaryShareClass1 2024-02-29 14692624 bus:OrdinaryShareClass2 2024-02-29 14692624 2023-02-27 2024-02-29 14692624 bus:FilletedAccounts 2023-02-27 2024-02-29 14692624 bus:SmallEntities 2023-02-27 2024-02-29 14692624 bus:AuditExemptWithAccountantsReport 2023-02-27 2024-02-29 14692624 bus:PrivateLimitedCompanyLtd 2023-02-27 2024-02-29 14692624 bus:Director1 2023-02-27 2024-02-29 14692624 bus:Director2 2023-02-27 2024-02-29 14692624 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-02-27 2024-02-29 14692624 core:OtherPropertyPlantEquipment 2023-02-27 2024-02-29 14692624 bus:OrdinaryShareClass1 2023-02-27 2024-02-29 14692624 bus:OrdinaryShareClass2 2023-02-27 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14692624 (England and Wales)

NOIR PROPERTIES LIMITED

Unaudited Financial Statements
For the financial period from 27 February 2023 to 29 February 2024
Pages for filing with the registrar

NOIR PROPERTIES LIMITED

Unaudited Financial Statements

For the financial period from 27 February 2023 to 29 February 2024

Contents

NOIR PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
NOIR PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 29.02.2024
£
Fixed assets
Tangible assets 3 4,645
Investment property 4 2,867,568
2,872,213
Current assets
Debtors 5 13,851
Cash at bank and in hand 58,333
72,184
Creditors: amounts falling due within one year 6 ( 2,902,003)
Net current liabilities (2,829,819)
Total assets less current liabilities 42,394
Net assets 42,394
Capital and reserves
Called-up share capital 7 2
Profit and loss account 42,392
Total shareholders' funds 42,394

For the financial period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of NOIR PROPERTIES LIMITED (registered number: 14692624) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S Zsifkov
Director

19 October 2024

NOIR PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 27 February 2023 to 29 February 2024
NOIR PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 27 February 2023 to 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

NOIR PROPERTIES LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

2. Employees

Period from
27.02.2023 to
29.02.2024
Number
Monthly average number of persons employed by the company during the period, including directors 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 27 February 2023 0 0
Additions 6,498 6,498
At 29 February 2024 6,498 6,498
Accumulated depreciation
At 27 February 2023 0 0
Charge for the financial period 1,853 1,853
At 29 February 2024 1,853 1,853
Net book value
At 29 February 2024 4,645 4,645

4. Investment property

Investment property
£
Valuation
As at 27 February 2023 0
Additions 2,867,568
As at 29 February 2024 2,867,568

5. Debtors

29.02.2024
£
Other debtors 13,851

6. Creditors: amounts falling due within one year

29.02.2024
£
Taxation and social security 8,666
Other creditors 2,893,337
2,902,003

7. Called-up share capital

29.02.2024
£
Allotted, called-up and fully-paid
1 Ordinary A share of £ 1.00 1
1 Ordinary B share of £ 1.00 1
2