2023-08-012024-07-312024-07-31false12764567NBLC PROPERTY 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NBLC PROPERTY LTD

Registered Number
12764567
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

NBLC PROPERTY LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

LUTON, Bradley Howard
LUTON, Nicola Jane

Registered Address

13b Cedar Walk
Kingswood
Tadworth
KT20 6HW

Registered Number

12764567 (England and Wales)
NBLC PROPERTY LTD
Statement of Financial Position
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3524699
Investment property4926,000926,000
926,524926,699
Current assets
Cash at bank and on hand42,41435,094
42,41435,094
Creditors amounts falling due within one year5(48,294)(47,603)
Net current assets (liabilities)(5,880)(12,509)
Total assets less current liabilities920,644914,190
Creditors amounts falling due after one year6(845,612)(845,612)
Provisions for liabilities7(10,299)(10,333)
Net assets64,73358,245
Capital and reserves
Called up share capital100100
Revaluation reserve43,48643,486
Profit and loss account21,14714,659
Shareholders' funds64,73358,245
The financial statements were approved and authorised for issue by the Board of Directors on 14 April 2025, and are signed on its behalf by:
LUTON, Bradley Howard
Director
Registered Company No. 12764567
NBLC PROPERTY LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 August 231,6571,657
At 31 July 241,6571,657
Depreciation and impairment
At 01 August 23958958
Charge for year175175
At 31 July 241,1331,133
Net book value
At 31 July 24524524
At 31 July 23699699
4.Investment property
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis be reference to market evidence of transaction prices of similar properties.

£
Fair value at 01 August 23926,000
At 31 July 24926,000
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security1,5551,680
Other creditors43,97342,382
Accrued liabilities and deferred income2,7663,541
Total48,29447,603
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts545,612545,612
Other creditors300,000300,000
Total845,612845,612
Included in other creditors, £300,000 was the amount due to the directors which was originally used towards the purchase of the properties. The amount is repayable on demand.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)10,29910,333
Total10,29910,333
8.Further information regarding the company's financial position
The company has entered into the legal charges with The Mortgage Works (UK) PLC over the properties at Flat 19 Smitham Court, 31 Leaden Hill, Coulsdon, CR5 2FF and Flat 11,Wynne House,10 Leaden Hill, Coulsdon, CR5 2DZ.