1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,410,000 52,493 350,000 1,112,493 1,112,493 1,410,000 51,670 xbrli:pure xbrli:shares iso4217:GBP 03699252 2023-02-01 2024-01-31 03699252 2024-01-31 03699252 2023-01-31 03699252 2022-02-01 2023-01-31 03699252 2023-01-31 03699252 2022-01-31 03699252 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 03699252 bus:Director1 2023-02-01 2024-01-31 03699252 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03699252 core:WithinOneYear 2024-01-31 03699252 core:WithinOneYear 2023-01-31 03699252 core:AfterOneYear 2024-01-31 03699252 core:AfterOneYear 2023-01-31 03699252 bus:AllOrdinaryShares 2023-02-01 2024-01-31 03699252 bus:AllOrdinaryShares 2022-02-01 2023-01-31 03699252 core:ShareCapital 2024-01-31 03699252 core:ShareCapital 2023-01-31 03699252 core:RetainedEarningsAccumulatedLosses 2024-01-31 03699252 core:RetainedEarningsAccumulatedLosses 2023-01-31 03699252 core:RevaluationInvestmentPropertyDeferredTax 2024-01-31 03699252 core:RevaluationInvestmentPropertyDeferredTax 2023-01-31 03699252 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 03699252 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 03699252 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 03699252 core:DeferredTaxation 2024-01-31 03699252 bus:Director1 2023-01-31 03699252 bus:Director1 2023-01-31 03699252 bus:Director1 2022-02-01 2023-01-31 03699252 bus:SmallEntities 2023-02-01 2024-01-31 03699252 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 03699252 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 03699252 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03699252 bus:FullAccounts 2023-02-01 2024-01-31 03699252 bus:OrdinaryShareClass1 2024-01-31 03699252 bus:OrdinaryShareClass1 2023-01-31
COMPANY REGISTRATION NUMBER: 03699252
NUTBROWN PROPERTIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2024
NUTBROWN PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
1,112,493
1,410,000
Current assets
Debtors
7
56,700
166,700
Cash at bank and in hand
233,532
61,377
----------
----------
290,232
228,077
Creditors: amounts falling due within one year
8
10,300
15,418
----------
----------
Net current assets
279,932
212,659
-------------
-------------
Total assets less current liabilities
1,392,425
1,622,659
Creditors: amounts falling due after more than one year
9
563,515
772,244
Provisions
10
51,670
51,670
-------------
-------------
Net assets
777,240
798,745
-------------
-------------
Capital and reserves
Called up share capital
12
100
100
Profit and loss account
777,140
798,645
----------
----------
Shareholder funds
777,240
798,745
----------
----------
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 31st January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year 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 .
NUTBROWN PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 25 October 2024 , and are signed on behalf of the board by:
S. Tuke
Director
Company registration number: 03699252
NUTBROWN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st JANUARY 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 106 Pine Hill, Epsom, Surrey, KT18 7BQ.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents and service charges, stated net of discounts.
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 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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Dividends
2024
2023
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
20,000
20,000
---------
---------
6. Tangible assets
Freehold property
£
Cost
At 1st February 2023
1,410,000
Additions
52,493
Disposals
( 350,000)
-------------
At 31st January 2024
1,112,493
-------------
Depreciation
At 1st February 2023 and 31st January 2024
-------------
Carrying amount
At 31st January 2024
1,112,493
-------------
At 31st January 2023
1,410,000
-------------
Included within the above is investment property as follows:
£
At 1st February 2023
1,410,000
Additions
52,493
Disposals
( 355,000)
-------------
At 31st January 2024
1,107,493
-------------
The investment properties have been valued by the directors at the year end based on their open market value. The historic cost of the properties was £608,722 (2023 - £851,455).
7. Debtors
2024
2023
£
£
Other debtors
56,700
166,700
---------
----------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,400
9,000
Other creditors
5,900
6,418
---------
---------
10,300
15,418
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
563,515
772,244
----------
----------
Included within creditors: amounts falling due after more than one year is an amount of £539,760 (2023: £772,244) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
The mortgages are secured on the freehold investment properties.
10. Provisions
Deferred tax (note 11)
£
At 1st February 2023 and 31st January 2024
51,670
---------
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 10)
51,670
51,670
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Fair value adjustment of investment property
51,670
51,670
---------
---------
12. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
13. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
S. Tuke
120,000
( 120,000)
----------
----
----------
----
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
S. Tuke
120,000
120,000
----
----------
----
----------