N C Press Limited 01399130 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is property letting. Digita Accounts Production Advanced 6.30.9574.0 true 01399130 2023-05-01 2024-04-30 01399130 2024-04-30 01399130 bus:Director1 1 2024-04-30 01399130 bus:OrdinaryShareClass1 bus:OtherShareType 2024-04-30 01399130 core:RetainedEarningsAccumulatedLosses 2024-04-30 01399130 core:RevaluationReserve 2024-04-30 01399130 core:ShareCapital 2024-04-30 01399130 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 01399130 core:Goodwill 2024-04-30 01399130 core:OfficeEquipment 2024-04-30 01399130 bus:SmallEntities 2023-05-01 2024-04-30 01399130 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 01399130 bus:FilletedAccounts 2023-05-01 2024-04-30 01399130 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 01399130 bus:RegisteredOffice 2023-05-01 2024-04-30 01399130 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 01399130 bus:Director1 2023-05-01 2024-04-30 01399130 bus:Director1 1 2023-05-01 2024-04-30 01399130 bus:Director2 2023-05-01 2024-04-30 01399130 bus:OrdinaryShareClass1 bus:OtherShareType 2023-05-01 2024-04-30 01399130 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01399130 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 01399130 core:RevaluationReserve 2023-05-01 2024-04-30 01399130 core:RevaluationReserve core:LandBuildings 2023-05-01 2024-04-30 01399130 core:ShareCapital 2023-05-01 2024-04-30 01399130 core:Goodwill 2023-05-01 2024-04-30 01399130 core:ComputerEquipment 2023-05-01 2024-04-30 01399130 core:LandBuildings 2023-05-01 2024-04-30 01399130 core:OfficeEquipment 2023-05-01 2024-04-30 01399130 countries:England 2023-05-01 2024-04-30 01399130 2023-04-30 01399130 bus:Director1 1 2023-04-30 01399130 core:RetainedEarningsAccumulatedLosses 2023-04-30 01399130 core:RevaluationReserve 2023-04-30 01399130 core:ShareCapital 2023-04-30 01399130 core:Goodwill 2023-04-30 01399130 core:OfficeEquipment 2023-04-30 01399130 2022-05-01 2023-04-30 01399130 2023-04-30 01399130 bus:OrdinaryShareClass1 bus:OtherShareType 2023-04-30 01399130 core:RetainedEarningsAccumulatedLosses 2023-04-30 01399130 core:RevaluationReserve 2023-04-30 01399130 core:ShareCapital 2023-04-30 01399130 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 01399130 core:OfficeEquipment 2023-04-30 01399130 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 01399130 core:RevaluationReserve 2022-05-01 2023-04-30 01399130 core:RevaluationReserve core:LandBuildings 2022-05-01 2023-04-30 01399130 core:ShareCapital 2022-05-01 2023-04-30 01399130 core:LandBuildings 2022-05-01 2023-04-30 01399130 2022-04-30 01399130 core:RetainedEarningsAccumulatedLosses 2022-04-30 01399130 core:RevaluationReserve 2022-04-30 01399130 core:ShareCapital 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01399130

N C Press Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

N C Press Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 10

 

N C Press Limited

Company Information

Directors

Mr N C Press

Ms A J Press

Mrs J A Press

Company secretary

Mrs J A Press

Registered office

Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

N C Press Limited

(Registration number: 01399130)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

41

52

Investment property

6

553,561

545,461

 

553,602

545,513

Current assets

 

Cash at bank and in hand

 

5,598

8,355

Creditors: Amounts falling due within one year

7

(9,938)

(9,265)

Net current liabilities

 

(4,340)

(910)

Total assets less current liabilities

 

549,262

544,603

Provisions for liabilities

(54,830)

(52,805)

Net assets

 

494,432

491,798

Capital and reserves

 

Called up share capital

8

10,000

10,000

Revaluation reserve

287,814

281,739

Retained earnings

196,618

200,059

Shareholders' funds

 

494,432

491,798

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

N C Press Limited

(Registration number: 01399130)
Balance Sheet as at 30 April 2024 (continued)

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 

.........................................
Mr N C Press
Director

.........................................
Mrs J A Press
Company secretary and director

 

N C Press Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 May 2023

10,000

281,739

200,059

491,798

Profit for the year

-

-

19,634

19,634

Other comprehensive income

-

6,075

-

6,075

Total comprehensive income

-

6,075

19,634

25,709

Dividends

-

-

(17,000)

(17,000)

Transfers

-

-

(6,075)

(6,075)

At 30 April 2024

10,000

287,814

196,618

494,432

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 May 2022

10,000

251,381

201,588

462,969

Profit for the year

-

-

44,329

44,329

Other comprehensive income

-

30,358

-

30,358

Total comprehensive income

-

30,358

44,329

74,687

Dividends

-

-

(15,500)

(15,500)

Transfers

-

-

(30,358)

(30,358)

At 30 April 2023

10,000

281,739

200,059

491,798

 

N C Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

These financial statements were authorised for issue by the Board on 29 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

N C Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

20% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Current asset investments

Current asset investments are stated at the lower of cost and net realisable value.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

N C Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

4 years

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

N C Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

197,215

197,215

At 30 April 2024

197,215

197,215

Amortisation

At 1 May 2023

197,215

197,215

At 30 April 2024

197,215

197,215

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

1,822

1,822

At 30 April 2024

1,822

1,822

Depreciation

At 1 May 2023

1,770

1,770

Charge for the year

11

11

At 30 April 2024

1,781

1,781

Carrying amount

At 30 April 2024

41

41

At 30 April 2023

52

52

 

N C Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Investment properties

2024
£

At 1 May

545,461

Additions

8,100

At 30 April

553,561

The above total includes £5,461 being a 14.14% holding in a UK unquoted company stated at cost.
The remaining £548,100 (2023 - £540,000) represents the value of the company investment properties as revalued to fair value by the directors at the balance sheet date. The historical cost of these properties is £224,668.

There has been no valuation of investment property by an independent valuer.

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,281

2,997

Accruals and deferred income

1,626

1,548

Other creditors

5,031

4,720

9,938

9,265

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10,000

10,000

10,000

10,000

       
 

N C Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

6,075

6,075

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

30,358

30,358

10

Dividends

2024

2023

£

£

Interim dividend of £1.70 (2023 - £1.55) per ordinary share

17,000

15,500

 

 

11

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mr N C Press

4,720

312

5,032