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Registered number: 01160042










NOLA LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
NOLA LIMITED
REGISTERED NUMBER: 01160042

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
48,176
48,176

  
48,176
48,176

  

Creditors: amounts falling due within one year
 5 
(48,176)
(48,176)

Net current liabilities
  
 
 
(48,176)
 
 
(48,176)

Total assets less current liabilities
  
-
-

  

Net assets
  
-
-


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
(3)
(3)

  
-
-


Page 1

 
NOLA LIMITED
REGISTERED NUMBER: 01160042
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

For the year ended 31 March 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J J B Richardson
Director

Date: 3 December 2024

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
NOLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Nola Limited is a private company limited by shares, incorporated in England and Wales, registered number 01160042.
The registered office and principal place of business is 1 Earl Street, Northampton, Northamptonshire, NN1 3AU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.3

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 3

 
NOLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
48,176



At 31 March 2024
48,176

The 2024 valuations were made by the directors, on an open market value for existing use basis.



At 31 March 2024





5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
48,176
48,176



6.


Related party transactions

No related party transactions were undertaken as are required to be disclosed under section 1A of     FRS 102.

Page 4