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REGISTERED NUMBER: 00616091 (England and Wales)













N.WOOLF(PROPERTIES)LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2024






N.WOOLF(PROPERTIES)LIMITED (REGISTERED NUMBER: 00616091)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5TH APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


N.WOOLF(PROPERTIES)LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5TH APRIL 2024







DIRECTORS: Mr J Thomas
Mr M R Phillips





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 00616091 (England and Wales)





ACCOUNTANTS: Carston ETL
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

N.WOOLF(PROPERTIES)LIMITED (REGISTERED NUMBER: 00616091)

BALANCE SHEET
5TH APRIL 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 985 768
Investment property 5 2,955,000 2,955,000
2,955,985 2,955,768

CURRENT ASSETS
Debtors 6 699 1,026
Cash at bank 2,367 24,527
3,066 25,553
CREDITORS
Amounts falling due within one year 7 476,302 498,439
NET CURRENT LIABILITIES (473,236 ) (472,886 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,482,749 2,482,882

PROVISIONS FOR LIABILITIES 8 274,645 274,645
NET ASSETS 2,208,104 2,208,237

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Fair value reserve 9 1,607,105 1,607,105
Retained earnings 598,999 599,132
2,208,104 2,208,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th November 2024 and were signed on its behalf by:





Mr M R Phillips - Director


N.WOOLF(PROPERTIES)LIMITED (REGISTERED NUMBER: 00616091)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5TH APRIL 2024


1. STATUTORY INFORMATION

N.Woolf(Properties)Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 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 is measured at the fair value of the consideration received or receivable.
The turnover of the company represents rents receivable during the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investment properties
Investment properties are shown at their fair value. Any adjustment to the fair value of the investment properties is recognised in the profit and loss account for the year.

In accordance with FRS 102 1A no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

N.WOOLF(PROPERTIES)LIMITED (REGISTERED NUMBER: 00616091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024


2. ACCOUNTING POLICIES - continued

Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant
lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying
amount of the leased asset and recognised on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 6th April 2023 8,473 2,117 460 11,050
Additions - 545 - 545
At 5th April 2024 8,473 2,662 460 11,595
DEPRECIATION
At 6th April 2023 8,057 1,991 234 10,282
Charge for year 104 168 56 328
At 5th April 2024 8,161 2,159 290 10,610
NET BOOK VALUE
At 5th April 2024 312 503 170 985
At 5th April 2023 416 126 226 768

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 6th April 2023
and 5th April 2024 2,955,000
NET BOOK VALUE
At 5th April 2024 2,955,000
At 5th April 2023 2,955,000

N.WOOLF(PROPERTIES)LIMITED (REGISTERED NUMBER: 00616091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5TH APRIL 2024


5. INVESTMENT PROPERTY - continued

Fair value at 5th April 2024 is represented by:
£
Valuation in 1999 342,444
Valuation in 2001 77,047
Valuation in 2002 58,486
Valuation in 2003 140,372
Valuation in 2004 104,823
Valuation in 2005 77,478
Valuation in 2006 72,009
Valuation in 2007 292,593
Valuation in 2018 516,498
Valuation in 2020 200,000
Cost 1,073,250
2,955,000

In the opinion of the directors, the investment properties are valued at fair value (which is the open market values) at the balance sheet date at £2,955,000. If these investment properties were sold at balance sheet date there would be a tax liability of £274,645..

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 699 1,026

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Tax 16,387 19,010
Other creditors 15,462 15,462
Directors' current accounts 442,365 462,053
Accruals and deferred income 2,088 1,914
476,302 498,439

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 274,645 274,645

Deferred tax
£
Balance at 6th April 2023 274,645
Balance at 5th April 2024 274,645

9. RESERVES
Fair value
reserve
£
At 6th April 2023
and 5th April 2024 1,607,105