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REGISTERED NUMBER: 04988882 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NOUVEL HOMME NO.2 LTD.

NOUVEL HOMME NO.2 LTD. (REGISTERED NUMBER: 04988882)






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


NOUVEL HOMME NO.2 LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: I N MacDonald
Batlon Secretarial Services limited





SECRETARIES: IN MacDonald
I K MacDonald





REGISTERED OFFICE: 44 Essex Street
London
WC2R 3JF





REGISTERED NUMBER: 04988882 (England and Wales)





ACCOUNTANTS: William Evans & Partners
20 Harcourt Street
London
W1H 4HG

NOUVEL HOMME NO.2 LTD. (REGISTERED NUMBER: 04988882)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 877,433 899,704
Investment property 6 2,765,770 3,785,914
3,643,203 4,685,618

CURRENT ASSETS
Stocks - 72,000
Debtors 7 471,536 740,792
Cash at bank 57,759 8,749
529,295 821,541
CREDITORS
Amounts falling due within one year 8 (1,856,079 ) (2,477,962 )
NET CURRENT LIABILITIES (1,326,784 ) (1,656,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,316,419

3,029,197

CREDITORS
Amounts falling due after more than one
year

9

(4,507,647

)

(4,881,845

)
NET LIABILITIES (2,191,228 ) (1,852,648 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (2,191,229 ) (1,852,649 )
SHAREHOLDERS' FUNDS (2,191,228 ) (1,852,648 )

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

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

NOUVEL HOMME NO.2 LTD. (REGISTERED NUMBER: 04988882)

BALANCE SHEET - continued
31 MARCH 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 26 March 2025 and were signed on its behalf by:





I N MacDonald - Director


NOUVEL HOMME NO.2 LTD. (REGISTERED NUMBER: 04988882)

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

1. STATUTORY INFORMATION

Nouvel Homme No.2 Ltd. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

Investments
Unlisted investments and loans are shown at valuation or, if no valuation has been made or is available, at cost, reduced by an impairment charge if the directors consider there has been a permanent fall in the value of the company.

Surpluses on revaluation and impairment costs are recognised on the Profit and loss account and deferred taxation is provided where appropriate.

NOUVEL HOMME NO.2 LTD. (REGISTERED NUMBER: 04988882)

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

2. ACCOUNTING POLICIES - continued

Recognition of income
Turnover consists in licence fees for antiques selling pitches, recognised on a time basis, and sales of furniture and associated goods, which is recognised as income when ownership is transferred to the purchaser, normally at the point of sale.

Other operating income includes rental income, which is recognised on a time basis in accordance with the lease of the property. Interest income is recognised on a time basis in accordance with the relevant loan agreement. Investment income such as dividends is recognised when received or receivable.

Government grants are recognised on a time basis in accordance with the terms of the grants.

Going concern
The financial statements have been prepared on the going concern basis despite the deficit of £1,852,648 shown on the Balance Sheet as the company has adequate resources to continue its operations and expects to continue to operate profitably..

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 60,827
Disposals (60,827 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 60,827
Eliminated on disposal (60,827 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Other investments not loans 445,583 467,854
Other loans 431,850 431,850
877,433 899,704

NOUVEL HOMME NO.2 LTD. (REGISTERED NUMBER: 04988882)

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

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Other
investments
£   
COST
At 1 April 2023 467,854
Disposals (22,271 )
At 31 March 2024 445,583
NET BOOK VALUE
At 31 March 2024 445,583
At 31 March 2023 467,854

Valuations are not available for all of the company's unlisted investments and, where this is so, investments are shown in the accounts at cost. Investments for which valuations are available are shown at valuation. The director considers this is a fair statement.
Other
loans
£   
At 1 April 2023
and 31 March 2024 431,850

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,785,914
Disposals (1,020,144 )
At 31 March 2024 2,765,770
NET BOOK VALUE
At 31 March 2024 2,765,770
At 31 March 2023 3,785,914

The properties were revalued by the director as at 31st December 2017 on a prudent basis to show a surplus on revaluation at that date of £250,000. The director considers this valuation approximates to market value at 31st March 2024. If the properties had been shown at cost the total would have been £2,296,489 ( 31st March 2023: £3,006,492).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,018 42,998
Other debtors 462,518 697,794
471,536 740,792

NOUVEL HOMME NO.2 LTD. (REGISTERED NUMBER: 04988882)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,800 8,437
Trade creditors 91,360 59,952
Taxation and social security 11,342 4,619
Other creditors 1,747,577 2,404,954
1,856,079 2,477,962

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,647 381,845
Other creditors 4,500,000 4,500,000
4,507,647 4,881,845

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable over more
than 5 years by instalments - 368,231
Other loans 4,500,000 4,500,000
4,500,000 4,868,231

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 13,447 387,645

The loans granted by the company's bankers are secured by legal mortgage against all of the company's investment properties. The other loan of £600,000 is secured by legal mortgage against one of the company's properties.

11. RELATED PARTY DISCLOSURES

Mr IN MacDonald, the director of this company, is also the director of Nouvel Homme No.1 Limited which has made loans to this company by way of a bond of £4,500,000 which is secured and interest free ( 31st March 2023: £4,500,000) and in addition has made loans which are unsecured and repayable on demand of £885,577 ( 31st March 2023: £898,777).

Bates Solicitors, a firm of which Mr IN MacDonald is a partner, has made charges for legal, storage and administration services during the year totalling £55,037 ( year ended 31st March 2023: £67,500). . These charges are on normal commercial terms.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr IN MacDonald, the sole shareholder, who holds his share on behalf of the beneficiaries of the will of Mrs JD Ernst.