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REGISTERED NUMBER: 10751694 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024

FOR

NAPTON LETTINGS LIMITED

NAPTON LETTINGS LIMITED (REGISTERED NUMBER: 10751694)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 June 2023 to 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NAPTON LETTINGS LIMITED

COMPANY INFORMATION
for the Period 1 June 2023 to 31 August 2024







DIRECTORS: Mrs L Goring
C M Sharples
R G Wilkes





REGISTERED OFFICE: Brooklands Cottage
Folly Lane
Napton
Southam
Warwickshire
CV47 8NZ





REGISTERED NUMBER: 10751694 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

NAPTON LETTINGS LIMITED (REGISTERED NUMBER: 10751694)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 915,651
Investment property 6 1,250,000 -
1,250,000 915,651

CURRENT ASSETS
Debtors 7 3 9,161
Cash at bank 22,743 7,519
22,746 16,680
CREDITORS
Amounts falling due within one year 8 1,109,649 970,715
NET CURRENT LIABILITIES (1,086,903 ) (954,035 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,097

(38,384

)

CREDITORS
Amounts falling due after more than one
year

9

(4,395

)

(5,560

)

PROVISIONS FOR LIABILITIES (40,097 ) -
NET ASSETS/(LIABILITIES) 118,605 (43,944 )

CAPITAL AND RESERVES
Called up share capital 3 3
Fair value reserve 10 170,941 -
Retained earnings (52,339 ) (43,947 )
118,605 (43,944 )

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

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

The directors acknowledge their 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.

NAPTON LETTINGS LIMITED (REGISTERED NUMBER: 10751694)

BALANCE SHEET - continued
31 August 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2025 and were signed on its behalf by:





Mrs L Goring - Director


NAPTON LETTINGS LIMITED (REGISTERED NUMBER: 10751694)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 June 2023 to 31 August 2024


1. STATUTORY INFORMATION

Napton Lettings 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on cost

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.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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 or other future taxable profits.

NAPTON LETTINGS LIMITED (REGISTERED NUMBER: 10751694)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 June 2023 to 31 August 2024


3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 August 2024 5,000
AMORTISATION
At 1 June 2023
and 31 August 2024 5,000
NET BOOK VALUE
At 31 August 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 915,651 55,000 970,651
Reclassification/transfer (915,651 ) - (915,651 )
At 31 August 2024 - 55,000 55,000
DEPRECIATION
At 1 June 2023
and 31 August 2024 - 55,000 55,000
NET BOOK VALUE
At 31 August 2024 - - -
At 31 May 2023 915,651 - 915,651

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 123,311
Revaluations 211,038
Reclassification/transfer 915,651
At 31 August 2024 1,250,000
NET BOOK VALUE
At 31 August 2024 1,250,000

NAPTON LETTINGS LIMITED (REGISTERED NUMBER: 10751694)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 June 2023 to 31 August 2024


6. INVESTMENT PROPERTY - continued

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 211,038
Cost 1,038,962
1,250,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 703
Other debtors 3 8,458
3 9,161

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 946 941
Trade creditors 72,174 9,001
Taxation and social security 5,719 -
Other creditors 1,030,810 960,773
1,109,649 970,715

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,395 5,560

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 719 2,592

10. RESERVES
Fair
value
reserve
£   
Revaluation of investment property 170,941

At 31 August 2024 170,941

NAPTON LETTINGS LIMITED (REGISTERED NUMBER: 10751694)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 June 2023 to 31 August 2024


11. RELATED PARTY DISCLOSURES

At 31 August 2024 other creditors included loans made to the company by the directors. C M Sharples is owed £170,390 (2023: £110,000) and L Goring is owed £50,390 (2023: £50,000). The interest rate charged on these loans is the Bank of England base rate plus 5% and no have no fixed date for repayment.

The directors of Napton Lettings Limited are also directors of Stockton Rentals Limited. At the 31 August 2024, other creditors include £9,120 (2023 £Nil) owed by the company to Stockton Rentals Limited.
The loans are interest fee with no fixed date for repayment.

During the year, the company received rent from Stockton Rentals Limited of £16,800 (2023 £Nil).

12. CONTROLLING PARTY

The controlling party is Mrs L Goring, C M Sharples and RWilkes.