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Registration number: SC181051

N K V Property Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

N K V Property Investments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

N K V Property Investments Limited

(Registration number: SC181051)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

352

825

Investment property

5

550,000

550,000

Other financial assets

6

1,500,000

1,500,000

 

2,050,352

2,050,825

Current assets

 

Cash at bank and in hand

 

5,392

226

Creditors: Amounts falling due within one year

7

(1,117,213)

(1,140,808)

Net current liabilities

 

(1,111,821)

(1,140,582)

Total assets less current liabilities

 

938,531

910,243

Provisions for liabilities

(17,532)

(17,622)

Net assets

 

920,999

892,621

Capital and reserves

 

Called up share capital

2

2

Other reserves

74,454

74,454

Retained earnings

846,543

818,165

Shareholders' funds

 

920,999

892,621

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 

.........................................
N Varma
Director

 

N K V Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
14-15 Main Street
Longniddry
East Lothian
EH32 0NF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

N K V Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

N K V Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2023

2,363

2,363

At 30 November 2024

2,363

2,363

Depreciation

At 1 December 2023

1,538

1,538

Charge for the year

473

473

At 30 November 2024

2,011

2,011

Carrying amount

At 30 November 2024

352

352

At 30 November 2023

825

825

5

Investment properties

2024
£

At 1 December

550,000

At 30 November

550,000

There has been no valuation of investment property by an independent valuer.

6

Other financial assets (current and non-current)

2024
£

2023
£

Non-current financial assets

Financial assets at cost less impairment

1,500,000

1,500,000

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Directors loan

1,105,564

1,127,892

Taxation and social security

 

1,992

1,725

Other creditors

 

9,657

11,191

 

1,117,213

1,140,808