2 2 NAS Properties Larne Limited NI645202 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is letting of commercial property and property management Digita Accounts Production Advanced 6.30.9574.0 true NI645202 2022-09-01 2023-08-31 NI645202 2023-08-31 NI645202 bus:OrdinaryShareClass1 2023-08-31 NI645202 core:CurrentFinancialInstruments 2023-08-31 NI645202 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 NI645202 core:FurnitureFittingsToolsEquipment 2023-08-31 NI645202 core:OtherPropertyPlantEquipment 2023-08-31 NI645202 bus:SmallEntities 2022-09-01 2023-08-31 NI645202 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 NI645202 bus:FilletedAccounts 2022-09-01 2023-08-31 NI645202 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 NI645202 bus:RegisteredOffice 2022-09-01 2023-08-31 NI645202 bus:Director1 2022-09-01 2023-08-31 NI645202 bus:Director2 2022-09-01 2023-08-31 NI645202 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 NI645202 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 NI645202 core:FurnitureFittings 2022-09-01 2023-08-31 NI645202 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 NI645202 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 NI645202 core:PlantMachinery 2022-09-01 2023-08-31 NI645202 countries:NorthernIreland 2022-09-01 2023-08-31 NI645202 2022-08-31 NI645202 core:FurnitureFittingsToolsEquipment 2022-08-31 NI645202 core:OtherPropertyPlantEquipment 2022-08-31 NI645202 2021-09-01 2022-08-31 NI645202 2022-08-31 NI645202 bus:OrdinaryShareClass1 2022-08-31 NI645202 core:CurrentFinancialInstruments 2022-08-31 NI645202 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 NI645202 core:FurnitureFittingsToolsEquipment 2022-08-31 NI645202 core:OtherPropertyPlantEquipment 2022-08-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI645202

NAS Properties Larne Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

NAS Properties Larne Limited

(Registration number: NI645202)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

224

280

Current assets

 

Debtors

5

1,128

132,315

Investments

6

-

-

Cash at bank and in hand

 

236

314,579

 

1,364

446,894

Creditors: Amounts falling due within one year

7

(26,372)

(27,961)

Net current (liabilities)/assets

 

(25,008)

418,933

Net (liabilities)/assets

 

(24,784)

419,213

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(24,884)

419,113

Shareholders' (deficit)/funds

 

(24,784)

419,213

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2025 and signed on its behalf by:
 

.........................................
Mr John Gerard Murray
Director

.........................................
Mrs Jane Margaret Murray
Director

 
     
 

NAS Properties Larne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 430 Old Glenarm Road, Ballygally, Larne, Co Antrim, BT40 2RG.

These financial statements were authorised for issue by the Board on 19 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% reducing balance basis

Fixtures and fittings

20% reducing balance basis

 

NAS Properties Larne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

NAS Properties Larne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

47

996

1,043

At 31 August 2023

47

996

1,043

Depreciation

At 1 September 2022

47

716

763

Charge for the year

-

56

56

At 31 August 2023

47

772

819

Carrying amount

At 31 August 2023

-

224

224

At 31 August 2022

-

280

280

5

Debtors

Current

2023
£

2022
£

Other debtors

1,128

132,315

 

1,128

132,315

 

NAS Properties Larne Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Current asset investments

2023
£

2022
£

Opening Balance

-

-

Addition

384,935

-

Write down in value

(384,935)

-

Closing Balance

-

-

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

21,177

23,322

Accruals and deferred income

 

5,195

2,195

Other creditors

 

-

2,444

 

26,372

27,961

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

21,177

23,322