Registered number
07888668
Narya Limited
Unaudited Filleted Accounts
31 December 2023
Narya Limited
Registered number: 07888668
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investment Property 3 2,225,000 2,225,000
2,225,000 2,225,000
Current assets
Debtors 4 231,635 51,635
Cash at bank and in hand 2,216 99,899
233,851 151,534
Creditors: amounts falling due within one year 5 (980,193) (810,738)
Net current liabilities (746,342) (659,204)
Total assets less current liabilities 1,478,658 1,565,796
Creditors: amounts falling due after more than one year 6 (806,801) (931,092)
Provisions for liabilities (69,934) (69,934)
Net assets 601,923 564,770
Capital and reserves
Called up share capital 100 100
Profit and loss account 601,823 564,670
Shareholders' funds 601,923 564,770
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. U. Modhwadia
Director
Approved by the board on 27 March 2025
Narya Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rental of real estate. Turnover from the real estate rental is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investment Property
Investment property is included at fair value. Gains are recognised in the Income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Investment Property Total
£ £
Cost or valuation
At 1 January 2023 2,225,000 2,225,000
Additions - -
Surplus on revaluation - -
Disposals - -
At 31 December 2023 2,225,000 2,225,000
Depreciation
At 1 January 2023 - -
Charge for the year - -
Surplus on revaluation - -
On disposals - -
At 31 December 2023 - -
Net book value
At 31 December 2023 2,225,000 2,225,000
At 31 December 2022 2,225,000 2,225,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 1,856,925 1,856,925
Cumulative depreciation based on historical cost - -
1,856,925 1,856,925
Investment properties are valued by the directors based on similar properties in the locality and reviews conducted on an open market valuation of a freehold basis. The director believes there has not been any movement in the fair value (2022 Nil).
4 Debtors 2023 2022
£ £
Other debtors 231,635 51,635
231,635 51,635
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 21,184 14,191
Taxation and social security costs 49,440 40,725
Other creditors 909,569 755,822
980,193 810,738
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 806,801 931,092
806,801 931,092
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 707,029 838,711
707,029 838,711
Secured bank loans 801,992 909,665
Security is given against the freehold interest in the investment property owned by the company.
8 Other information
Narya Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 George Street West
Luton
Bedfordshire
LU1 2BJ
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