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REGISTERED NUMBER: 02797250 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

NATIONWORTH LIMITED

NATIONWORTH LIMITED (REGISTERED NUMBER: 02797250)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NATIONWORTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs B Schwartz





SECRETARY: D Lov





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 02797250 (England and Wales)





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

NATIONWORTH LIMITED (REGISTERED NUMBER: 02797250)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 779 939
Investment property 5 1,800,000 1,800,000
1,800,779 1,800,939

CURRENT ASSETS
Debtors 6 45,551 45,521
Cash at bank 127,007 124,003
172,558 169,524
CREDITORS
Amounts falling due within one year 7 (64,040 ) (60,758 )
NET CURRENT ASSETS 108,518 108,766
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,909,297

1,909,705

CREDITORS
Amounts falling due after more than one
year

8

(314,995

)

(325,797

)
NET ASSETS 1,594,302 1,583,908

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 1,123,436 1,123,436
Retained earnings 11 470,766 460,372
SHAREHOLDERS' FUNDS 1,594,302 1,583,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

NATIONWORTH LIMITED (REGISTERED NUMBER: 02797250)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 director and authorised for issue on 6 January 2025 and were signed by:





Mrs B Schwartz - Director


NATIONWORTH LIMITED (REGISTERED NUMBER: 02797250)

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

1. STATUTORY INFORMATION

Nationworth 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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 1 (2023 - 1 ) .

NATIONWORTH LIMITED (REGISTERED NUMBER: 02797250)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 13,547 1,199 14,746
DEPRECIATION
At 1 April 2023 12,716 1,091 13,807
Charge for year 125 35 160
At 31 March 2024 12,841 1,126 13,967
NET BOOK VALUE
At 31 March 2024 706 73 779
At 31 March 2023 831 108 939

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,800,000
NET BOOK VALUE
At 31 March 2024 1,800,000
At 31 March 2023 1,800,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 1,123,436
Valuation in 2020 300,000
Cost 376,564
1,800,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 5,106 5,076
Other debtors 40,445 40,445
45,551 45,521

NATIONWORTH LIMITED (REGISTERED NUMBER: 02797250)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 5,150 8,217
Tax 4,489 4,865
Social security and other taxes 637 -
Other creditors 43,875 37,907
Rent deposit 3,380 3,380
Accrued expenses 6,509 6,389
64,040 60,758

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 52,913 63,715
Bank loan 262,082 262,082
314,995 325,797

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 314,995 325,797

Long term bank loan is secured by first charge over the company's investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 460,372 1,123,436 1,583,808
Profit for the year 10,394 10,394
At 31 March 2024 470,766 1,123,436 1,594,202

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr David Lov.