IRIS Accounts Production v24.2.0.383 05620272 Board of Directors 1.4.23 31.3.24 31.3.24 21.11.24 false true false false true false Auditors Opinion Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056202722023-03-31056202722024-03-31056202722023-04-012024-03-31056202722022-03-31056202722022-04-012023-03-31056202722023-03-3105620272ns15:EnglandWales2023-04-012024-03-3105620272ns14:PoundSterling2023-04-012024-03-3105620272ns10:Director12023-04-012024-03-3105620272ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105620272ns10:SmallEntities2023-04-012024-03-3105620272ns10:Audited2023-04-012024-03-3105620272ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105620272ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105620272ns10:FullAccounts2023-04-012024-03-3105620272ns10:OrdinaryShareClass12023-04-012024-03-3105620272ns10:Director22023-04-012024-03-3105620272ns10:Director32023-04-012024-03-3105620272ns10:CompanySecretary12023-04-012024-03-3105620272ns10:RegisteredOffice2023-04-012024-03-3105620272ns5:CurrentFinancialInstruments2024-03-3105620272ns5:CurrentFinancialInstruments2023-03-3105620272ns5:ShareCapital2024-03-3105620272ns5:ShareCapital2023-03-3105620272ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3105620272ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3105620272ns5:RetainedEarningsAccumulatedLosses2024-03-3105620272ns5:RetainedEarningsAccumulatedLosses2023-03-3105620272ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105620272ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105620272ns5:DeferredTaxation2023-03-3105620272ns5:DeferredTaxation2024-03-3105620272ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 05620272 (England and Wales)


















Financial Statements for the Year Ended 31 March 2024

for

Napier Street (Bedford) Limited

Napier Street (Bedford) Limited (Registered number: 05620272)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Napier Street (Bedford) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr T F Wells
Mr R Ashworth
Mr N F Wells





SECRETARY: Mr R Ashworth





REGISTERED OFFICE: Brewpoint
Fairhill
Bedford
Bedfordshire
MK41 7FY





REGISTERED NUMBER: 05620272 (England and Wales)





AUDITORS: George Hay Partnership LLP
Chartered Accountants
Statutory Auditor
Brigham House
High Street
Biggleswade
Bedfordshire
SG18 0LD

Napier Street (Bedford) Limited (Registered number: 05620272)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 1,915,000 1,915,000

CURRENT ASSETS
Debtors 6 70,007 62,680
Cash at bank 29,140 13,818
99,147 76,498
CREDITORS
Amounts falling due within one year 7 442,286 505,406
NET CURRENT LIABILITIES (343,139 ) (428,908 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,571,861

1,486,092

PROVISIONS FOR LIABILITIES 8 112,670 112,670
NET ASSETS 1,459,191 1,373,422

CAPITAL AND RESERVES
Called up share capital 9 1 1
Non-distributable reserves 432,887 432,887
Retained earnings 1,026,303 940,534
SHAREHOLDERS' FUNDS 1,459,191 1,373,422

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 14 November 2024 and were signed on its behalf by:





Mr T F Wells - Director


Napier Street (Bedford) Limited (Registered number: 05620272)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Napier Street (Bedford) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The directors have used their knowledge and experience to arrive at the fair value of the investment properties held.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Revenue from the rental of investment properties is recognised evenly over the term of the lease.

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.

The directors revalue Investment Property at each year end. Every third year the directors consider if there is a possibility that the fair value has materially altered since the last professional valuation and, where they consider this possible, the directors appoint an independent professional valuer to revalue the properties.

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.

Napier Street (Bedford) Limited (Registered number: 05620272)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Loans with group companies are repayable on demand and therefore measured at cost less impairment with no adjustment made to discount future cash flows.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,915,000
NET BOOK VALUE
At 31 March 2024 1,915,000
At 31 March 2023 1,915,000

The freehold land and buildings are revalued annually by the directors on an open market value basis. Every third year the properties are valued by an independent valuer where the directors consider there is a possibility that the valuation has materially changed since the last professional valuation.

A valuation by the directors took place at the balance sheet date.

No independent professional valuation took place as the directors consider that the value of the relevant properties has not materially altered since the last professional valuation in 2023.

Valuation models & techniques

The directors have considered their knowledge of the rental yields and local property market in arriving at their valuation.

Significant assumptions

That the valuation of the land has not materially altered since 2023.

Effects on the profit and loss and fair value reserve

No change to the fair value of the properties has been made and therefore there are no adjustments to the profit and loss account or the fair value

Napier Street (Bedford) Limited (Registered number: 05620272)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2011 (308,889 )
Valuation in 2014 169,583
Valuation in 2017 30,000
Valuation in 2020 259,863
Valuation in 2023 395,000
Cost 1,369,443
1,915,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,925 -
Other debtors 53,082 62,680
70,007 62,680

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 384,919 471,919
Tax 28,372 20,553
VAT 6,092 3,431
Accruals and deferred income 22,903 9,503
442,286 505,406

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 112,670 112,670

Deferred
tax
£   
Balance at 1 April 2023 112,670
Balance at 31 March 2024 112,670

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1 Share capital £1 1 1

Napier Street (Bedford) Limited (Registered number: 05620272)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Colin Airey FCCA (Senior Statutory Auditor)
for and on behalf of George Hay Partnership LLP

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. GROUP FINANCIAL STATEMENTS

Group financial statements, in which the company's financial results are included, are prepared by its parent company:

Oakley Properties (Bedford) Ltd
Brewpoint
Fairhill
Bedford
MK41 7FY