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Registered number: 06275502
N & S Property Investments Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Elsby & Company Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06275502
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,016,734 1,184,540
1,016,734 1,184,540
CURRENT ASSETS
Debtors 5 - 2,891
Cash at bank and in hand 65,384 50,532
65,384 53,423
Creditors: Amounts Falling Due Within One Year 6 (238,550 ) (234,916 )
NET CURRENT ASSETS (LIABILITIES) (173,166 ) (181,493 )
TOTAL ASSETS LESS CURRENT LIABILITIES 843,568 1,003,047
Creditors: Amounts Falling Due After More Than One Year 7 (580,321 ) (580,340 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (61,256 ) (103,131 )
NET ASSETS 201,991 319,576
CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 435,018 309,393
Profit and Loss Account (233,127 ) 10,083
SHAREHOLDERS' FUNDS 201,991 319,576
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Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
N N Patel
Director
27th March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
N & S Property Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06275502 . The registered office is 155 Wellingborough Road, RUSHDEN, Northamptonshire, NN10 9TB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation is provided
Leasehold No depreciation is provided
Fixtures & Fittings 15% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Land & Property
Freehold Leasehold Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 July 2023 205,000 977,500 13,094 1,195,594
Revaluation - (167,500 ) - (167,500 )
As at 30 June 2024 205,000 810,000 13,094 1,028,094
Depreciation
As at 1 July 2023 - - 11,054 11,054
Provided during the period - - 306 306
As at 30 June 2024 - - 11,360 11,360
Net Book Value
As at 30 June 2024 205,000 810,000 1,734 1,016,734
As at 1 July 2023 205,000 977,500 2,040 1,184,540
Cost or valuation as at 30 June 2024 represented by:
Land & Property
Freehold Leasehold Fixtures & Fittings Total
£ £ £ £
At cost - - 13,094 13,094
At valuation 205,000 810,000 - 1,015,000
205,000 810,000 13,094 1,028,094
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold Leasehold Total
£ £ £
Cost 121,017 648,958 769,975
5. Debtors
2024 2023
£ £
Due within one year
Other debtors - 2,891
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 235,485 233,205
Taxation and social security 3,065 1,711
238,550 234,916
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 580,321 580,340
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
9. Reserves
Fair Value Reserve
£
As at 1 July 2023 309,393
Transfer to profit and loss 125,625
As at 30 June 2024 435,018
10. Property purchases
The company's directors are providing personal guarantees to cover all mortgages and other liabilities relating to the purchase of the company properties.
Page 5