Registered number
12110509
Nano Property Limited
Filleted Accounts
31 July 2024
Nano Property Limited
Registered number: 12110509
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 175,000 137,889
Current assets
Debtors 4 2,259 1,237
Cash at bank and in hand 4,228 1,972
6,487 3,209
Creditors: amounts falling due within one year 5 (22,134) (13,918)
Net current liabilities (15,647) (10,709)
Total assets less current liabilities 159,353 127,180
Creditors: amounts falling due after more than one year 6 (126,171) (129,178)
Provisions for liabilities (7,051) -
Net assets/(liabilities) 26,131 (1,998)
Capital and reserves
Called up share capital 1 1
Fair value reserve 8 30,060 -
Profit and loss account (3,930) (1,999)
Shareholder's funds 26,131 (1,998)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 M Sheik Dawood
Director
Approved by the board on 16 April 2025
Nano Property Limited
Notes to the Accounts
for the year ended 31 July 2024
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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.
Investments
Investment properties are shown at fair value. The profit or loss arising in changes in fair value are recognised in the income statement. Revaluation gains are maintained net of the associated deferred tax liability within the fair value reserve.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Fair value
At 1 August 2023 137,889
Revaluation 37,111
At 31 July 2024 175,000
Historical cost
At 1 August 2023 137,889
At 31 July 2024 137,889
At 31 July 2024 the valuation of the investment properties was reviewed by Mr M Sheik Dawood, the director of the company. Following the review Mr M Sheik Dawood is satisfied that the current valuations represents the fair value of the investment properties. The revalued assets has not been valued by a qualified valuer. The valuations are representive of similar property values in the same area.
4 Debtors 2024 2023
£ £
Other debtors 2,259 1,237
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,009 2,935
Director's loan account 18,078 10,383
Other creditors 1,047 600
22,134 13,918
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 126,171 129,178
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 110,595 110,595
Instalments falling due for payment after more than five years 2,761 6,084
113,356 116,679
Secured bank loans 110,595 110,595
The bank loans are secured on the investment properties owned by the company.
8 Fair value reserve 2024 2023
£ £
Gain on revaluation of investment properties 37,111 -
Deferred taxation arising on the revaluation of investment properties (7,051) -
At 31 July 2024 30,060 -
9 Controlling party
In the opinion of the director Mr M Sheik Dawood is the company's controlling party by virtue of his shareholding in the company.
10 Other information
Nano Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bury Lodge
Bury Road
Stowmarket
Suffolk
IP14 1JA
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