2023-02-012024-01-312024-01-31false12397038Number Nineteen 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Number Nineteen Ltd

Registered Number
12397038
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

Number Nineteen Ltd
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

Harpa, Liz
Loizou, Stavros

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

12397038 (England and Wales)
Number Nineteen Ltd
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,015,1931,015,448
1,015,1931,015,448
Current assets
Cash at bank and on hand17,2861,073
17,2861,073
Creditors amounts falling due within one year5(695,007)(776,962)
Net current assets (liabilities)(677,721)(775,889)
Total assets less current liabilities337,472239,559
Creditors amounts falling due after one year6(250,000)(200,000)
Provisions for liabilities8(193)(242)
Net assets87,27939,317
Capital and reserves
Called up share capital100100
Profit and loss account87,17939,217
Shareholders' funds87,27939,317
The financial statements were approved and authorised for issue by the Board of Directors on 29 October 2024, and are signed on its behalf by:
Loizou, Stavros
Director
Registered Company No. 12397038
Number Nineteen Ltd
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings20
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 February 231,014,1751,7001,015,875
At 31 January 241,014,1751,7001,015,875
Depreciation and impairment
At 01 February 23-427427
Charge for year-255255
At 31 January 24-682682
Net book value
At 31 January 241,014,1751,0181,015,193
At 31 January 231,014,1751,2731,015,448
4.Investment property
The directors consider that there is no material difference in the carrying value of the investment property and its current market value.
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties684,098749,624
Taxation and social security7,5497,829
Other creditors2117,709
Accrued liabilities and deferred income3,3391,800
Total695,007776,962
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts250,000200,000
Total250,000200,000
7.Secured creditors
The bank loan is secured by a fixed charge over the freehold property of the company.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)193242
Total193242
9.Related party transactions
Stavros Property Investments Ltd: Parent company of the reporting entity: At the balance sheet date an amount of £684,098 (2023: £749,624) remained due to the parent company. This loan is interest free with no fixed date for repayment. Transactions with the directors: At the balance sheet date the company owed amounts to the directors totalling £21 (2023: £17,709). These are interest free loans with no fixed date for repayment.