Company Registration No. 04429113 (England and Wales)
NEN 9 LIMITED
Unaudited accounts
for the year ended 31 May 2024
NEN 9 LIMITED
Unaudited accounts
Contents
NEN 9 LIMITED
Company Information
for the year ended 31 May 2024
Directors
N Evangeli
C Evangeli
Company Number
04429113 (England and Wales)
Registered Office
3 Elmwood Avenue
Harrow
Middlesex
HA3 8AJ
England
Accountants
Financial and Accounting Solutions
6 Hadleigh Close
Harrow
Middlesex
HA2 8FA
NEN 9 LIMITED
Statement of financial position
as at 31 May 2024
Tangible assets
3,753,252
3,754,336
Cash at bank and in hand
126,244
303,593
Creditors: amounts falling due within one year
(64,975)
(160,439)
Net current assets
158,007
244,095
Total assets less current liabilities
3,911,259
3,998,431
Creditors: amounts falling due after more than one year
-
(600,000)
Provisions for liabilities
Net assets
3,910,436
3,397,608
Called up share capital
200
200
Revaluation reserve
2,813,575
2,813,575
Profit and loss account
1,096,661
583,833
Shareholders' funds
3,910,436
3,397,608
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2024 and were signed on its behalf by
C Evangeli
Director
Company Registration No. 04429113
NEN 9 LIMITED
Notes to the Accounts
for the year ended 31 May 2024
NEN 9 LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04429113. The registered office is 3 Elmwood Avenue, Harrow, Middlesex, HA3 8AJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
3,750,000
52,274
3,802,274
At 31 May 2024
3,750,000
52,274
3,802,274
At 1 June 2023
-
47,938
47,938
Charge for the year
-
1,084
1,084
At 31 May 2024
-
49,022
49,022
At 31 May 2024
3,750,000
3,252
3,753,252
At 31 May 2023
3,750,000
4,336
3,754,336
NEN 9 LIMITED
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Accrued income and prepayments
48,315
37,195
Other debtors
60,423
60,423
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
53,360
72,371
Loans from directors
(2,666)
80,428
7
Creditors: amounts falling due after more than one year
2024
2023
The company has been in a legal dispute with Dandi 7 Ltd, who were to buy the premises and had advanced a sum of £600,000 towards this sale.The heads of terms also stated that should the buyer not complete within the stipulated period, this advance would not be returned by the seller, if the seller provides vacant possession of the property.The buyer did not complete despite the seller providing vacant possession and has disputed the non refund of £600,000, for which a case has been filed.This amount has always been shown as an advance in other creditors and will continue to do so awaiting the conclusion of the legal verdict.
The directors personally guarantee the shortfall in the company should this amount need to be paid to Dandi 7 Ltd.
9
Transactions with related parties
NEN9 Limited is owed a sum of £60,423 ( 2022-£43,151)from Nicholas 1939 Ltd.The companies are connected by a common director.
10
Average number of employees
During the year the average number of employees was 5 (2023: 5).