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REGISTERED NUMBER: 04369761 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

No. 71 Ltd

No. 71 Ltd (Registered number: 04369761)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


No. 71 Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: N J Humphreys





SECRETARY: Mrs E J Humphreys





REGISTERED OFFICE: 39 Ashby Road
Loughbrough
Leicestershire
LE11 3AA





REGISTERED NUMBER: 04369761 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

No. 71 Ltd (Registered number: 04369761)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,834 76,251
Investments 5 722 700
Investment property 6 9,141,040 11,987,500
9,192,596 12,064,451

CURRENT ASSETS
Debtors 7 6,726,135 6,735,326
Cash at bank 2,255,803 56,506
8,981,938 6,791,832
CREDITORS
Amounts falling due within one year 8 1,053,399 631,916
NET CURRENT ASSETS 7,928,539 6,159,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,121,135

18,224,367

CREDITORS
Amounts falling due after more than one
year

9

(1,944,255

)

(2,403,708

)

PROVISIONS FOR LIABILITIES (464,000 ) (476,000 )
NET ASSETS 14,712,880 15,344,659

CAPITAL AND RESERVES
Called up share capital 222 200
Share premium 11 3,696,567 3,696,567
Fair value reserve 11 2,373,928 2,409,428
Retained earnings 11 8,642,163 9,238,464
SHAREHOLDERS' FUNDS 14,712,880 15,344,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

No. 71 Ltd (Registered number: 04369761)

Balance Sheet - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2025 and were signed by:





N J Humphreys - Director


No. 71 Ltd (Registered number: 04369761)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

No. 71 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about No. 71 Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rents receivable from investment properties and is recognised as it falls due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is not depreciated but is revalued annually at its fair value, in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and transferred to a fair value reserve.

Deferred taxation
Provision is made at current rates for taxation deferred in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

No. 71 Ltd (Registered number: 04369761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 48,849 101,668 150,517
DEPRECIATION
At 1 July 2023 48,849 25,417 74,266
Charge for year - 25,417 25,417
At 30 June 2024 48,849 50,834 99,683
NET BOOK VALUE
At 30 June 2024 - 50,834 50,834
At 30 June 2023 - 76,251 76,251

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023 700
Additions 22
At 30 June 2024 722
NET BOOK VALUE
At 30 June 2024 722
At 30 June 2023 700

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 11,987,500
Additions 381,040
Disposals (3,227,500 )
At 30 June 2024 9,141,040
NET BOOK VALUE
At 30 June 2024 9,141,040
At 30 June 2023 11,987,500

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 9,141,040

No. 71 Ltd (Registered number: 04369761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 6,303,114 9,102,073
Aggregate depreciation (1,269,354 ) (1,283,691 )

Investment property was valued on a fair value basis on 30 June 2024 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,642 16,186
Amounts owed by group undertakings 5,665,215 84,764
Amounts owed by related companies 252,708 6,095,364
Other debtors 535,664 515,006
Director's current account 237,926 -
Tax 10,800 10,800
Prepayments and accrued income 2,180 13,206
6,726,135 6,735,326

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,029 5,069
Amounts owed to group undertakings 881,460 -
Tax - 112,513
Other creditors 29,000 -
Director's current account - 424,966
Accrued expenses 134,910 89,368
1,053,399 631,916

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 257,855 403,708
Other loans 1,686,400 2,000,000
1,944,255 2,403,708

No. 71 Ltd (Registered number: 04369761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 257,855 403,708
Other loans 1,686,400 2,000,000
1,944,255 2,403,708

Loans are secured on investment properties.

11. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 July 2023 9,238,464 3,696,567 2,409,428 15,344,459
Deficit for the year (367,801 ) - - (367,801 )
Dividends (264,000 ) - - (264,000 )
Transfer realised profit on
disposal

47,500

-

(47,500

)

-

Transfer deferred tax movement (12,000 ) - 12,000 -
At 30 June 2024 8,642,163 3,696,567 2,373,928 14,712,658

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year net advances of £237,926 were made to a director. Interest is charged at the official rate and the balance is repayable on demand.