Company Registration No. 13272429 (England and Wales)
NORTH STREET PROPERTIES LTD
Unaudited accounts
for the year ended 30 April 2024
NORTH STREET PROPERTIES LTD
Unaudited accounts
Contents
NORTH STREET PROPERTIES LTD
Company Information
for the year ended 30 April 2024
Directors
B Angliss
M Angliss
Company Number
13272429 (England and Wales)
Registered Office
5 KINGSWOOD CLOSE
ENGLEFIELD GREEN
EGHAM
SURREY
TW20 0NQ
UNITED KINGDOM
Accountants
Kaushik Khiroya, AFA
LMK ACCOUNTING LTD
THE GATEHOUSE
GATEHOUSE WAY
AYLESBURY
HP19 8DB
NORTH STREET PROPERTIES LTD
Statement of financial position
as at 30 April 2024
Tangible assets
6,610
8,262
Investment property
1,752,893
1,736,938
Cash at bank and in hand
8,063
7,071
Creditors: amounts falling due within one year
(646,082)
(668,662)
Net current liabilities
(551,303)
(574,178)
Total assets less current liabilities
1,208,200
1,171,022
Creditors: amounts falling due after more than one year
(1,281,543)
(1,281,543)
Net liabilities
(73,343)
(110,521)
Called up share capital
100
100
Profit and loss account
(73,443)
(110,621)
Shareholders' funds
(73,343)
(110,521)
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 directors acknowledge their 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 of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by
M Angliss
Director
Company Registration No. 13272429
NORTH STREET PROPERTIES LTD
Notes to the Accounts
for the year ended 30 April 2024
NORTH STREET PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 13272429. The registered office is 5 KINGSWOOD CLOSE, ENGLEFIELD GREEN, EGHAM, SURREY, TW20 0NQ, UNITED KINGDOM.
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.
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..
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.
The investment property has been valued by the directors. In their opinion, the current market value is the same as the cost price.
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.
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.
NORTH STREET PROPERTIES LTD
Notes to the Accounts
for the year ended 30 April 2024
Cash and cash equivalents
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.
The financial statements have been prepared on a going concern basis which assumes that the company will continue in existence for the foreseeable future. This is based on the assumption that continued support will be provided by the directors and loan providers to ensure sufficient finance is available to enable the company to meet its debts as they fall due. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of the assets to their recoverable amount and provide for any further liabilities that may arise.
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:
Plant & machinery
20% Reducing balance
Fixtures & fittings
20% Reducing balance
4
Tangible fixed assets
Plant & machinery
Fair value at 1 May 2023
1,736,938
At 30 April 2024
1,752,893
Amounts falling due within one year
Trade debtors
79,645
50,845
Amounts due from group undertakings etc.
-
28,290
NORTH STREET PROPERTIES LTD
Notes to the Accounts
for the year ended 30 April 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
31,955
56,099
Amounts owed to group undertakings and other participating interests
95,125
500
Loans from directors
517,102
517,102
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,281,543
1,281,543
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).