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REGISTERED NUMBER: 07125709 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

S. Nepali Limited

S. Nepali Limited (Registered number: 07125709)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


S. Nepali Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr S Nepali





REGISTERED OFFICE: 76 Kenton Lane
Gosforth
Newcastle upon Tyne
Tyne and Wear
NE3 4LE





REGISTERED NUMBER: 07125709 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

S. Nepali Limited (Registered number: 07125709)

Balance Sheet
31 January 2024

2024 2023
as restated
Notes £    £   
ASSETS

FIXED ASSETS
Investment property 5 1,072,520 1,072,520

CURRENT ASSETS
Cash at bank 336 1,455
1,072,856 1,073,975

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 203,680 174,854
SHAREHOLDERS' FUNDS 203,780 174,954

CREDITORS 6 869,076 899,021
1,072,856 1,073,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





Mr S Nepali - Director


S. Nepali Limited (Registered number: 07125709)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

S. Nepali Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under the provisions of Section 1A "Small Entities" of Financial Reporting Standard FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Refer to note 11 for an explanation of the transition.

The financial statements are presented in Sterling £.

Turnover
Turnover represents rents receivable accounted for on an accruals basis.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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 and 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.

Current and deferred tax assets and liabilities are not discounted.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

S. Nepali Limited (Registered number: 07125709)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 1,076,260
DEPRECIATION
At 1 February 2023
and 31 January 2024 3,740
NET BOOK VALUE
At 31 January 2024 1,072,520
At 31 January 2023 1,072,520

Investment property was valued on an open market basis on 31 January 2023 by the director, S Nepali.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors - (1 )
Taxation and social security 10,112 10,135
Other creditors 858,964 888,887
869,076 899,021