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Registration number: 11857319

Nantwich Property (SA) Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 30 April 2024

 

Nantwich Property (SA) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Nantwich Property (SA) Limited

(Registration number: 11857319)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Investment property

4

 

1,520,000

 

1,520,000

Current assets

   

 

Debtors

5

4,155

 

75,259

 

Cash at bank and in hand

 

17,837

 

19,945

 

 

21,992

 

95,204

 

Creditors: Amounts falling due within one year

6

(277,050)

 

(322,456)

 

Net current liabilities

   

(255,058)

 

(227,252)

Total assets less current liabilities

   

1,264,942

 

1,292,748

Creditors: Amounts falling due after more than one year

6

 

(1,110,820)

 

(1,200,328)

Net assets

   

154,122

 

92,420

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

154,022

 

92,320

 

Total equity

   

154,122

 

92,420

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 January 2025 and signed on its behalf by:
 

.........................................
Mr A.K. Mayo
Director

 

Nantwich Property (SA) Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

These financial statements were authorised for issue by the Board on 23 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue includes the fair value of rental income from leased properties. The income is recognised as it falls due, in accordance with the lease to which it relates.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Nantwich Property (SA) Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024 (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable property. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 May

1,520,000

At 30 April

1,520,000


The directors consider the carrying value of the investment property to be not materially different to its fair value at 30 April 2024.

5

Debtors

Current

2024
£

2023
£

Trade debtors

4,155

75,259

 

Nantwich Property (SA) Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

89,508

86,794

Taxation and social security

23,639

22,899

Other creditors

163,903

212,763

277,050

322,456

Due after one year

Loans and borrowings

1,110,820

1,200,328


Creditors include secured bank loans of £1,200,328 (2023 £1,287,122). The loans are secured by way of a legal charge over the company's investment properties together with a joint and several guarantee provided by the directors of the company.

The bank loans include amounts repayable by instalments of £722,597 (2023 £824,588) which fall due after more than five years.