Company No:
Contents
DIRECTOR | Nikita Patel |
REGISTERED OFFICE | Camburgh House |
27 New Dover Road | |
Canterbury | |
CT1 3DN | |
United Kingdom |
COMPANY NUMBER | 13142976 (England and Wales) |
CHARTERED ACCOUNTANTS | Burgess Hodgson LLP |
Camburgh House | |
27 New Dover Road | |
Canterbury | |
CT1 3DN |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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156,859 | 156,859 | |||
Current assets | ||||
Cash at bank and in hand |
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100 | 100 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (139,648) | (148,636) | ||
Total assets less current liabilities | 17,211 | 8,223 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of N Bains Properties Limited (registered number:
Nikita Patel
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
N Bains Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Camburgh House, 27 New Dover Road, Canterbury, CT1 3DN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Investment property | not depreciated |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.
Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Non-financial assets
The fair value is determined annually by the director, on an open market value for existing use basis.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Investment property | Total | ||
£ | £ | ||
Cost | |||
At 01 February 2023 |
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At 31 January 2024 |
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Accumulated depreciation | |||
At 01 February 2023 |
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At 31 January 2024 |
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Net book value | |||
At 31 January 2024 |
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At 31 January 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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Transactions with the entity's director
2024 | 2023 | ||
£ | £ | ||
At the year end the company owed the director: | 136,890 | 144,984 |