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Company Registration No. 03322074 (England and Wales)
Nazco Limited Unaudited accounts for the year ended 29 February 2024
Nazco Limited Unaudited accounts Contents
Page
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Nazco Limited Company Information for the year ended 29 February 2024
Directors
Miss L I Turner Mr D I Turner
Company Number
03322074 (England and Wales)
Registered Office
Unit 5 Swaker Yard 2b Theobald Street Herts WD6 4SE United Kingdom
Accountants
Platts Unit 5 Swaker Yard 2b Theobald Street Herts WD6 4SE
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Nazco Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,355,000 
1,320,000 
Current assets
Cash at bank and in hand
29,228 
52,191 
Creditors: amounts falling due within one year
(94,155)
(146,343)
Net current liabilities
(64,927)
(94,152)
Total assets less current liabilities
1,290,073 
1,225,848 
Creditors: amounts falling due after more than one year
(812,229)
(775,851)
Provisions for liabilities
Deferred tax
(58,760)
(52,110)
Net assets
419,084 
397,887 
Capital and reserves
Called up share capital
1 
1 
Revaluation reserve
250,505 
222,155 
Profit and loss account
168,578 
175,731 
Shareholders' funds
419,084 
397,887 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by
Mr D I Turner Director Company Registration No. 03322074
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Nazco Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Nazco Limited is a private company, limited by shares, registered in England and Wales, registration number 03322074. The registered office is Unit 5 Swaker Yard, 2b Theobald Street, Herts, WD6 4SE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
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 accounts. 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.
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Nazco Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At valuation 
At 1 March 2023
1,320,000 
Revaluations
35,000 
At 29 February 2024
1,355,000 
Depreciation
At 29 February 2024
- 
Net book value
At 29 February 2024
1,355,000 
At 28 February 2023
1,320,000 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
4,259 
4,259 
Taxes and social security
- 
24 
Other creditors
5,728 
6,765 
Loans from directors
81,768 
132,895 
Accruals
2,400 
2,400 
94,155 
146,343 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
812,229 
775,851 
The bank loans are repayable after more than one year and is secured by a first legal charge.
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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