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REGISTERED NUMBER: 09987796 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

NIVNE ESTATES LTD

NIVNE ESTATES LTD (REGISTERED NUMBER: 09987796)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NIVNE ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Y Friedman
M Galandauer





REGISTERED OFFICE: 102 Valkyrie Road
Westcliff-On-Sea
SS0 8AP





REGISTERED NUMBER: 09987796 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

NIVNE ESTATES LTD (REGISTERED NUMBER: 09987796)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Investment property 4 350,000 350,000

CURRENT ASSETS
Debtors 5 179,252 213,890
Cash at bank 1,135 6,755
180,387 220,645
CREDITORS
Amounts falling due within one year 6 (134,342 ) (157,488 )
NET CURRENT ASSETS 46,045 63,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

396,045

413,157

CREDITORS
Amounts falling due after more than one
year

7

(394,322

)

(394,306

)

PROVISIONS FOR LIABILITIES (5,354 ) (5,354 )
NET (LIABILITIES)/ASSETS (3,631 ) 13,497

CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 28,181 28,181
Retained earnings 11 (31,813 ) (14,685 )
SHAREHOLDERS' FUNDS (3,631 ) 13,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

NIVNE ESTATES LTD (REGISTERED NUMBER: 09987796)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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 21 November 2024 and were signed on its behalf by:





Y Friedman - Director


NIVNE ESTATES LTD (REGISTERED NUMBER: 09987796)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Nivne Estates Ltd 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 represents net rent receivable, excluding value added tax.

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

NIVNE ESTATES LTD (REGISTERED NUMBER: 09987796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 350,000
NET BOOK VALUE
At 29 February 2024 350,000
At 28 February 2023 350,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2021 28,181
Cost 321,819
350,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 2,762 -
Other debtors 176,490 213,890
179,252 213,890

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 309 543
Taxation and social security - 241
Other creditors 134,033 156,704
134,342 157,488

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 8) 344,322 344,306
Other creditors 50,000 50,000
394,322 394,306

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 344,322 344,306

Repayable by instalments
Other loans more 5yrs instal 50,000 50,000

NIVNE ESTATES LTD (REGISTERED NUMBER: 09987796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 344,322 344,306

Repayable by instalments
Other loans more 5yrs instal 50,000 50,000

Under the bank loan, £50,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 344,322 344,306

The bank loans and overdraft are secured by a first charge over the company's properties and a floating charge over the assets of the company, and bear interest at variable rates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 (14,685 ) 28,181 13,496
Deficit for the year (17,128 ) (17,128 )
At 29 February 2024 (31,813 ) 28,181 (3,632 )

12. ULTIMATE CONTROLLING PARTY

Mr Y Friedman is the ultimate controller by virtue of owning 100% of the ordinary share capital in the company.