Company Registration No. 10726732 (England and Wales)
NESLEN PROPERTIES LIMITED
Unaudited accounts
for the year ended 30 April 2024
NESLEN PROPERTIES LIMITED
Unaudited accounts
Contents
NESLEN PROPERTIES LIMITED
Company Information
for the year ended 30 April 2024
Company Number
10726732 (England and Wales)
Registered Office
126 WATERFALL ROAD
LONDON
N14 7JN
ENGLAND
NESLEN PROPERTIES LIMITED
Statement of financial position
as at 30 April 2024
Cash at bank and in hand
66
-
Creditors: amounts falling due within one year
(5,332)
(5,030)
Net current assets
2,655
6,016
Total assets less current liabilities
2,833
6,225
Creditors: amounts falling due after more than one year
(21,130)
(22,996)
Net liabilities
(18,297)
(16,771)
Called up share capital
100
100
Profit and loss account
(18,397)
(16,871)
Shareholders' funds
(18,297)
(16,771)
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 January 2025 and were signed on its behalf by
MR L C NESLEN
Director
Company Registration No. 10726732
NESLEN PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2024
NESLEN PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10726732. The registered office is 126 WATERFALL ROAD, LONDON, N14 7JN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Reducing instalment - 15%
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Revenue, described as turnover, represents rents receivable excluding VAT. Turnover is recognised in accordance with the due dates under the terms of the lease agreement.
NESLEN PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2024
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 section 11.
Basic financial instruments, which include trade and other receivables and payables, cash and bank balances, are amortised at cost.
Advanced financial instruments which include interest rate swap and forward foreign exchange contracts, are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
These financial statements have been prepared on the assumption that the company will continue in operational existence for the foreseeable future.
The validity of this assumption depends on the contining support of the director and sharesholders of the company.
If the were unable to continue in existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet values of assets to their recoverable amounts, to reclassify fixed assets as current assets and to provide for further liabilities which might arise.
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Other debtors
7,921
11,046
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,832
3,530
NESLEN PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2024
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).