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Company registration number: 07186407
NTAN ECO LIMITED
Unaudited filleted financial statements
31 March 2024
NTAN ECO LIMITED
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
NTAN ECO LIMITED
Directors and other information
Director Mr Francis Dunne
Secretary Caroline Mary Dunne
Company number 07186407
Registered office 5 Underwood Street
London
N1 7LY
NTAN ECO LIMITED
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 575,455 500,716
Investments 6 142,073 57,497
_______ _______
717,528 558,213
Current assets
Debtors 7 1,075 1,098
Cash at bank and in hand 1,194,669 1,120,717
_______ _______
1,195,744 1,121,815
Creditors: amounts falling due
within one year 8 ( 177,752) ( 92,674)
_______ _______
Net current assets 1,017,992 1,029,141
_______ _______
Total assets less current liabilities 1,735,520 1,587,354
Provisions for liabilities ( 32,507) ( 10,455)
_______ _______
Net assets 1,703,013 1,576,899
_______ _______
Capital and reserves
Called up share capital 1 1
Fair value reserve 143,614 90,665
Profit and loss account 1,559,398 1,486,233
_______ _______
Shareholders funds 1,703,013 1,576,899
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 November 2024 , and are signed on behalf of the board by:
Mr Francis Dunne
Director
Company registration number: 07186407
NTAN ECO LIMITED
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 1 April 2022 1 90,665 1,139,532 1,230,198
Profit for the year 346,701 346,701
_______ _______ _______ _______
Total comprehensive income for the year - - 346,701 346,701
_______ _______ _______ _______
At 31 March 2023 and 1 April 2023 1 90,665 1,486,233 1,576,899
Profit for the year 479,614 479,614
Other comprehensive income for the year:
Reclassification from fair value reserve to profit and loss account 52,949 ( 52,949) -
_______ _______ _______ _______
Total comprehensive income for the year - 52,949 426,665 479,614
Dividends paid and payable ( 353,500) ( 353,500)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 353,500) ( 353,500)
_______ _______ _______ _______
At 31 March 2024 1 143,614 1,559,398 1,703,013
_______ _______ _______ _______
NTAN ECO LIMITED
Notes to the financial statements
Year ended 31 March 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 5 Underwood Street, London, N1 7LY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - No depreciation
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tax on profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 165,973 81,629
_______ _______
Deferred tax:
Origination and reversal of timing differences 22,052 -
_______ _______
Tax on profit 188,025 81,629
_______ _______
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost or valuation
At 1 April 2023 500,000 1,041 501,041
Revaluation 75,000 - 75,000
_______ _______ _______
At 31 March 2024 575,000 1,041 576,041
_______ _______ _______
Depreciation
At 1 April 2023 - 325 325
Charge for the year - 261 261
_______ _______ _______
At 31 March 2024 - 586 586
_______ _______ _______
Carrying amount
At 31 March 2024 575,000 455 575,455
_______ _______ _______
At 31 March 2023 500,000 716 500,716
_______ _______ _______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 1 April 2023 500,000
Fair value adjustments 75,000
_______
At 31 March 2024 575,000
_______
6. Investments
Other investments other than loans Other loans Total
£ £ £
Cost or valuation
At 1 April 2023 38,832 18,665 57,497
Additions 81,511 - 81,511
Disposals - ( 840) ( 840)
Revaluations 2,320 - 2,320
Transfers 1,585 - 1,585
_______ _______ _______
At 31 March 2024 124,248 17,825 142,073
_______ _______ _______
Impairment
At 1 April 2023 and 31 March 2024 - - -
_______ _______ _______
Carrying amount
At 31 March 2024 124,248 17,825 142,073
_______ _______ _______
At 31 March 2023 38,832 18,665 57,497
_______ _______ _______
Investments in group undertakings
Registered country Class of share Percentage of shares held
Participating interest
Southlands College Estate Wimbledon Limited England and Wales Ordinary 8%
7. Debtors
2024 2023
£ £
Other debtors 1,075 1,098
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 165,973 81,568
Social security and other taxes 10,015 9,467
Other creditors 1,764 1,639
_______ _______
177,752 92,674
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Francis Dunne ( 614) - ( 614)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Francis Dunne - ( 614) ( 614)
_______ _______ _______