Registered number
13141545
NAL Estates Limited
Unaudited Filleted Accounts
31 January 2024
NAL Estates Limited
Registered number: 13141545
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 4 650,000 350,000
Current assets
Debtors 5 1,200 1,280
Cash at bank and in hand 2,879 7,895
4,079 9,175
Creditors: amounts falling due within one year 6 (270,057) (17,513)
Net current liabilities (265,978) (8,338)
Total assets less current liabilities 384,022 341,662
Creditors: amounts falling due after more than one year 7 (289,707) (289,688)
Provisions for liabilities (16,320) (5,700)
Net assets 77,995 46,274
Capital and reserves
Called up share capital 10 10
Fair value reserve 9 48,959 24,300
Profit and loss account 29,026 21,964
Shareholder's funds 77,995 46,274
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs N A Lazenby
Director
Approved by the board on 31/10/2024.
NAL Estates Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Statutory information
NAL Estates Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address are as below:
Registered number: 13141545
Registered office: 78 Cleasby Road
Beech House
Menston
LS29 6HN
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.
2 Accounting policies
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Turnover
Turnover represents rents received and receivable, excluding VAT.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Accounting policies (continued)
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
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.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
4 Investment property
Total
£
Fair value
At 1 February 2023 350,000
Additions 264,721
Revaluation 35,279
At 31 January 2024 650,000
Historical cost
At 1 February 2023 320,000
At 31 January 2024 584,721
The investment property was valued on an open market basis on 31 January 2024 by the director.
5 Debtors 2024 2023
£ £
Prepayments and accrued income - 80
Other debtors 1,200 1,200
1,200 1,280
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7 6
Trade creditors 4,849 496
Accruals and deferred income 164,003 6,192
Director's current account 98,341 5,703
Taxation and social security costs 1,657 3,916
Other creditors 1,200 1,200
270,057 17,513
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 289,707 289,688
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 289,677 289,669
Secured bank loans 289,714 289,700
Bank loans are secured over the properties to which they relate.
9 Fair value reserve 2024 2023
£ £
At 1 February 2023 24,300 -
Transfer 24,659 24,300
At 31 January 2024 48,959 24,300
10 Related party transactions
During the year £122,988 (2023: £21,646) was advanced from and £30,350 (2023: £49,158) was repaid to the director. An amount of £98,341 (2023: £5,703) remained due to the director at the year end.
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