2023-03-012024-02-292024-02-29false11195272NO.1 PROPERTY 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NO.1 PROPERTY LTD

Registered Number
11195272
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

NO.1 PROPERTY LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

MIRZA, Khuram Shahzad

Registered Address

Unit 2 124 Ampthill Road
Bedford
MK42 9PP

Registered Number

11195272 (England and Wales)
NO.1 PROPERTY LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,362,70010,416,345
12,362,70010,416,345
Current assets
Debtors-167
Cash at bank and on hand35,60884,986
35,60885,153
Creditors amounts falling due within one year4(59,193)(52,576)
Net current assets (liabilities)(23,585)32,577
Total assets less current liabilities12,339,11510,448,922
Creditors amounts falling due after one year5(11,990,216)(10,110,632)
Net assets348,899338,290
Capital and reserves
Called up share capital100100
Profit and loss account348,799338,190
Shareholders' funds348,899338,290
The financial statements were approved and authorised for issue by the Director on 9 December 2024, and are signed on its behalf by:
MIRZA, Khuram Shahzad
Director
Registered Company No. 11195272
NO.1 PROPERTY LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 March 2310,414,9491,55810,416,507
Additions1,946,500-1,946,500
At 29 February 2412,361,4491,55812,363,007
Depreciation and impairment
At 01 March 23-162162
Charge for year-145145
At 29 February 24-307307
Net book value
At 29 February 2412,361,4491,25112,362,700
At 28 February 2310,414,9491,39610,416,345
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables115115
Taxation and social security52,92049,828
Other creditors4,4051,313
Accrued liabilities and deferred income1,7531,320
Total59,19352,576
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts11,406,1649,632,170
Other creditors584,052478,462
Total11,990,21610,110,632
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
MIRZA, Khuram Shahzad1,912,851529,35302,442,204
1,912,851529,35302,442,204