Registered number
05105173
Northcote Road Properties Limited
Filleted Accounts
30 April 2024
Northcote Road Properties Limited
Registered number: 05105173
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 251,022 250,000
Current assets
Debtors 4 1,000 -
Cash at bank and in hand 10,361 8,504
11,361 8,504
Creditors: amounts falling due within one year 5 (102,114) (102,214)
Net current liabilities (90,753) (93,710)
Net assets 160,269 156,290
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 149,097 149,097
Profit and loss account 11,072 7,093
Shareholder's funds 160,269 156,290
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Bath
Director
Approved by the board on 14 November 2024
Northcote Road Properties Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 250,000 - 250,000
Additions - 1,278 1,278
At 30 April 2024 250,000 1,278 251,278
Depreciation
Charge for the year - 256 256
At 30 April 2024 - 256 256
Net book value
At 30 April 2024 250,000 1,022 251,022
At 30 April 2023 250,000 - 250,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 150,633 150,633
Cumulative depreciation based on historical cost - -
150,633 150,633
4 Debtors 2024 2023
£ £
Other debtors 1,000 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 102,114 102,214
6 Revaluation reserve 2024 2023
£ £
At 1 May 2023 149,097 149,097
At 30 April 2024 149,097 149,097
7 Related party transactions
S M Bath, director
Interest-free loan
Amount due to the related party 101,614 101,614
8 Controlling party
Mr. S Bath, director and shareholder, is the holder of the entire share capital of the company and is therefore considered to be the controlling party.
9 Other information
Northcote Road Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
102A Barnsbury Road
London
N1 0ES
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