0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 785,514 14,548 770,966 770,966 xbrli:pure xbrli:shares iso4217:GBP 13091800 2023-04-01 2024-03-31 13091800 2024-03-31 13091800 2023-03-31 13091800 2022-04-01 2023-03-31 13091800 2023-03-31 13091800 2022-03-31 13091800 bus:Director1 2023-04-01 2024-03-31 13091800 bus:Director2 2023-04-01 2024-03-31 13091800 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 13091800 core:WithinOneYear 2024-03-31 13091800 core:WithinOneYear 2023-03-31 13091800 core:AfterOneYear 2024-03-31 13091800 core:AfterOneYear 2023-03-31 13091800 core:ShareCapital 2024-03-31 13091800 core:ShareCapital 2023-03-31 13091800 core:RetainedEarningsAccumulatedLosses 2024-03-31 13091800 core:RetainedEarningsAccumulatedLosses 2023-03-31 13091800 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 13091800 bus:SmallEntities 2023-04-01 2024-03-31 13091800 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13091800 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13091800 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13091800 bus:FullAccounts 2023-04-01 2024-03-31 13091800 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 13091800
N.S. PROPERTIES (NORTHERN) LIMITED
Filleted Unaudited Financial Statements
31 March 2024
N.S. PROPERTIES (NORTHERN) LIMITED
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
N.S. PROPERTIES (NORTHERN) LIMITED
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
4
770,966
770,966
Current assets
Debtors
5
450
450
Cash at bank and in hand
12,901
8,625
--------
-------
13,351
9,075
Creditors: amounts falling due within one year
6
248,151
260,536
---------
---------
Net current liabilities
234,800
251,461
---------
---------
Total assets less current liabilities
536,166
519,505
Creditors: amounts falling due after more than one year
7
440,077
463,548
---------
---------
Net assets
96,089
55,957
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
95,989
55,857
--------
--------
Shareholders funds
96,089
55,957
--------
--------
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 income and retained earnings has not been delivered.
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
N.S. PROPERTIES (NORTHERN) LIMITED
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 4 October 2024 , and are signed on behalf of the board by:
S G Cunniffe
N A Cunniffe
Director
Director
Company registration number: 13091800
N.S. PROPERTIES (NORTHERN) 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 Abbeyway South, Vista Road, Haydock, St. Helens, WA11 0RW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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 subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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. No depreciation has been charged on freehold property in the current year as it is considered that the residual value is not less than it's carrying value.
Freehold property
-
No depreciation charged in the year.
4. Tangible assets
Freehold property
£
Cost
At 1 April 2023 and 31 March 2024
785,514
---------
Depreciation
At 1 April 2023 and 31 March 2024
14,548
---------
Carrying amount
At 31 March 2024
770,966
---------
At 31 March 2023
770,966
---------
5. Debtors
2024
2023
£
£
Other debtors
450
450
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
27,292
30,139
Amounts owed to group undertakings and undertakings in which the company has a participating interest
203,999
217,000
Social security and other taxes
15,740
12,237
Other creditors
1,120
1,160
---------
---------
248,151
260,536
---------
---------
The bank borrowings are secured by a charge on all the assets of the company.
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
440,077
463,548
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £295,457 (2023: £331,494) in respect of liabilities payable by instalments which fall due for payment after more than five years from the reporting date.
The bank borrowings are secured by a charge on all the assets of the company.
8. Related party transactions
At 31 March 2024 the company owed £204,000 (2023: £217,000) to companies related by common ownership and control.
9. Controlling party
The company was under the control of S.G.Cunniffe throughout the current period. S.G.Cunniffe is the managing director and majority shareholder.