REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
NAVAM PROPERTIES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
NAVAM PROPERTIES LIMITED |
NAVAM PROPERTIES LIMITED (REGISTERED NUMBER: 12524775) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
NAVAM PROPERTIES LIMITED |
Company Information |
for the year ended 31 March 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
NAVAM PROPERTIES LIMITED (REGISTERED NUMBER: 12524775) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Revaluation reserve | 11 |
Retained earnings |
Shareholders' funds |
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. |
NAVAM PROPERTIES LIMITED (REGISTERED NUMBER: 12524775) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
NAVAM PROPERTIES LIMITED (REGISTERED NUMBER: 12524775) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | Statutory information |
Navam Properties Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Tangible fixed assets |
Motor vehicles | - |
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 |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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. |
NAVAM PROPERTIES LIMITED (REGISTERED NUMBER: 12524775) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
2. | Accounting policies - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost or valuation |
Additions |
At 31 March 2024 |
Depreciation |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
Cost or valuation at 31 March 2024 is represented by: |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost | 53,079 | 1,979 | 55,058 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
Cost or valuation |
Additions |
At 31 March 2024 |
Depreciation |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
NAVAM PROPERTIES LIMITED (REGISTERED NUMBER: 12524775) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 April 2023 |
and 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
The directors fair value of the properties as at 31st March 2024 amounts to £1,215,000. |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2023 | 340,029 |
Cost | 874,971 |
1,215,000 |
6. | Debtors |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
NAVAM PROPERTIES LIMITED (REGISTERED NUMBER: 12524775) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
9. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The loans due in more than one year and secured against the properties held by the company. |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 2 | 2 | 2 |
11. | Reserves |
Revaluation |
reserve |
£ |
Revaluation transfer | 340,029 |
Deferred tax on revaluation | (64,606 | ) |
At 31 March 2024 |
12. | Related party disclosures |
Included within other debtors due more than one year is an amount of £180,555 due from Navam Coffee Ltd, a company in which the directors have a material interest. |
Included within other debtors due within one year is an amount of £526 due from Navamcare Ltd, a company in which the directors have a material interest. |