1 April 2023 v2024.67.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP113428962023-04-012024-03-31113428962024-03-31113428962023-03-3111342896core:WithinOneYear2024-03-3111342896core:WithinOneYear2023-03-3111342896core:AfterOneYear2024-03-3111342896core:AfterOneYear2023-03-3111342896core:ShareCapital2024-03-3111342896core:ShareCapital2023-03-3111342896core:RetainedEarningsAccumulatedLosses2024-03-3111342896core:RetainedEarningsAccumulatedLosses2023-03-3111342896bus:Director12023-04-012024-03-3111342896bus:RegisteredOffice2023-04-012024-03-3111342896core:LandBuildings2023-04-012024-03-31113428962022-04-012023-03-3111342896core:LandBuildings2023-04-0111342896core:LandBuildings2024-03-3111342896core:LandBuildings2023-03-311134289612023-04-012024-03-3111342896countries:EnglandWales2023-04-012024-03-3111342896bus:AuditExemptWithAccountantsReport2023-04-012024-03-3111342896bus:PrivateLimitedCompanyLtd2023-04-012024-03-3111342896bus:SmallEntities2023-04-012024-03-3111342896bus:FullAccounts2023-04-012024-03-31
Company registration number:
11342896
Deniz N2 Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2024
Deniz N2 Limited
Statement of Financial Position
31 March 2024
20242023
Note££
Fixed assets    
Tangible assets 5
884,776
 
1,488,506
 
Current assets    
Stocks
978,299
 
645,897
 
Debtors 6
137,783
 
183,905
 
Cash at bank and in hand
2,026,268
 
1,360,243
 
3,142,350
 
2,190,045
 
Creditors: amounts falling due within one year 7
(2,054,872
)
(1,458,524
)
Net current assets
1,087,478
 
731,521
 
Total assets less current liabilities 1,972,254   2,220,027  
Creditors: amounts falling due after more than one year 8
(1,089,947
)
(1,379,921
)
Net assets
882,307
 
840,106
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
882,306
 
840,105
 
Shareholders funds
882,307
 
840,106
 
For the year ending
31 March 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
2 January 2025
, and are signed on behalf of the board by:
Mr F C Deniz
Director
Company registration number:
11342896
Deniz N2 Limited
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office and business is
Sunshine House
,
7 Cutler Street
,
London
,
E1 7DJ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for property supplied, net of discounts and Value Added Tax.
Revenue from the sale of property is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on sale of the property; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 40 years

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1.00
).

5 Tangible assets

Land and buildings
£
Cost  
At
1 April 2023
1,488,506
 
Additions
8,893
 
Disposals
(612,623
)
At
31 March 2024
884,776
 
Depreciation  
At
1 April 2023
and
31 March 2024
-  
Carrying amount  
At
31 March 2024
884,776
 
At 31 March 2023
1,488,506
 
Land and building includes land which was not depreciated during the year.

6 Debtors

20242023
££
Trade debtors -  
505
 
Other debtors
137,783
 
183,400
 
137,783
 
183,905
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors -  
1,224,017
 
Taxation and social security
1,892
 
190,132
 
Other creditors
2,052,980
 
44,375
 
2,054,872
 
1,458,524
 

8 Creditors: amounts falling due after more than one year

20242023
££
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,089,947
 
1,379,921
 

10 Controlling party

The company is a fully owned subsidiary of Deniz Investments Limited.
The ultimate controlling party is Mr F C Deniz director and controlling shareholder of Deniz Investments Limited.