IRIS Accounts Production v24.1.4.33 09564892 Board of Directors 1.6.23 31.5.24 31.5.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh095648922023-05-31095648922024-05-31095648922023-06-012024-05-31095648922022-05-31095648922022-06-012023-05-31095648922023-05-3109564892ns14:PoundSterling2023-06-012024-05-3109564892ns10:Director12023-06-012024-05-3109564892ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3109564892ns10:SmallEntities2023-06-012024-05-3109564892ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3109564892ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3109564892ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3109564892ns10:FullAccounts2023-06-012024-05-3109564892ns10:Director22023-06-012024-05-3109564892ns10:CompanySecretary12023-06-012024-05-3109564892ns10:RegisteredOffice2023-06-012024-05-3109564892ns5:CurrentFinancialInstruments2024-05-3109564892ns5:CurrentFinancialInstruments2023-05-3109564892ns5:ShareCapital2024-05-3109564892ns5:ShareCapital2023-05-3109564892ns5:RetainedEarningsAccumulatedLosses2024-05-3109564892ns5:RetainedEarningsAccumulatedLosses2023-05-3109564892ns5:CostValuation2023-05-3109564892ns5:DisposalsRepaymentsInvestments2024-05-3109564892ns5:CostValuation2024-05-3109564892ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3109564892ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31
REGISTERED NUMBER: 09564892















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

NATIONAL PROPERTIES LIMITED

NATIONAL PROPERTIES LIMITED (REGISTERED NUMBER: 09564892)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NATIONAL PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Rahim Virani
Karim Virani



SECRETARY: Zaeem Ud-Din



REGISTERED OFFICE: Crown House
North Circular Road
London
NW10 7PN



REGISTERED NUMBER: 09564892



BANKERS: Punjab National Bank (International) Ltd
110 South Road
Southall
UB1 1RB

NATIONAL PROPERTIES LIMITED (REGISTERED NUMBER: 09564892)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 5 - 25

CURRENT ASSETS
Debtors 6 - 259,975
Cash at bank 8,742 9,702
8,742 269,677
CREDITORS
Amounts falling due within one year 7 266,385 266,385
NET CURRENT (LIABILITIES)/ASSETS (257,643 ) 3,292
TOTAL ASSETS LESS CURRENT
LIABILITIES

(257,643

)

3,317

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (257,743 ) 3,217
SHAREHOLDERS' FUNDS (257,643 ) 3,317

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 25 September 2024 and were signed on its behalf by:





Karim Virani - Director


NATIONAL PROPERTIES LIMITED (REGISTERED NUMBER: 09564892)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

National Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is Crown House, North Circular Road, Park Royal, London NW10 7PN.

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
The financial statements are prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern
In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

For this purpose, the directors have considered the adequacy of the group's cash resources covering the period 12 months ahead of the approval of these financial statements.

The directors have reasonable expectations that the group has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Investments
Fixed asset investments are initially recorded at cost less any accumulated impairment losses.

4. EMPLOYEES AND DIRECTORS

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

NATIONAL PROPERTIES LIMITED (REGISTERED NUMBER: 09564892)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. FIXED ASSET INVESTMENTS
Own
shares
£   
COST
At 1 June 2023 25
Disposals (25 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 25

The company owns 25% of the ordinary share capital of Fernglen Ltd a company incorporated in England and Wales.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 259,975

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 131,649 131,649
Other creditors 134,736 134,736
266,385 266,385

8. RELATED PARTY DISCLOSURES

Included within creditors, amounts falling due after within one year, are interest free shareholder loans from Asian Online Plc amounting £131,649 (2023: £131,649) and The Burlington 2006 Settlement amounting to £127,066 (2023: £127,066).The loans are unsecured and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The company is a 50% subsidiary of Asian Online Plc, which is regarded as its ultimate parent undertaking. In the opinion of the directors, the ultimate controlling party is - Ms Shaila Virani.

The parent company's registered office is Crown House, North Circular Road, London NW10 7PN.