Registered number
03126877
Northiam Property Holdings Ltd
Filleted Accounts
31 July 2024
Northiam Property Holdings Ltd
Registered number: 03126877
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 3,832 4,012
3,832 4,012
Current assets
Debtors 7 1,058 1,196
Cash at bank and in hand 78,372 63,255
79,430 64,451
Creditors: amounts falling due within one year 8 (93,502) (79,904)
Net current liabilities (14,073) (15,454)
Total assets less current liabilities (10,241) (11,442)
Net liabilities (10,241) (11,442)
Capital and reserves
Called up share capital 1 1
Share premium - -
Profit and loss reserve 9 (11,442) (3,128)
Profit and loss account 1,200 (8,315)
Shareholders' funds (10,241) (11,442)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Andrew Noton
Director
Approved by the board on 18 December 2024
Northiam Property Holdings Ltd
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 shown in the profit and loss account represents amounts rent receivable for the year , exclusive of Value Added Tax.
Rental income is recognised on a straight line basis over the life of the lease. Lease incentives are amortised over the period of the lease up to when the rent is reviewed to market rates.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Leasehold land and buildings over 20 years
Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 25% straight line
2 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 180 180
180 180
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 6,172 - - 6,172
Additions - - - -
Surplus on revaluation - - - -
Disposals - - - -
At 31 July 2024 6,172 - - 6,172
Depreciation
At 1 August 2023 2,160 - - 2,160
Charge for the year 180 - - 180
Surplus on revaluation - - - -
On disposals - - - -
At 31 July 2024 2,340 - - 2,340
Net book value
At 31 July 2024 3,832 - - 3,832
At 31 July 2023 4,012 - - 4,012
7 Debtors 2024 2023
£ £
Trade debtors 938 1,076
Other debtors-From S/charge 120 120
1,058 1,196
8 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals and Deferred Income 81,502 67,904
Other creditors 12,000 12,000
93,502 79,904
9 Share capital Nominal 2024 2023
value £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1 1
1 1
9 Profit and loss account 2024 2023
£ £
At 1 August 2023 (11,442) -
Profit/(Loss) for the years 1,200 -
At 31 July 2024 (10,242) -
10 Going Concern
The company owns four head leases granted by the freeholder and has granted a number of leases from these head leases to leaseholders in the Northiam Estate. Under the current leases granted to leaseholders the company is due to collect £2,710 per annum in ground rents, the company is currently due to pay £12,920 per annum in ground rent under the head leases to the freeholder. While the company has sufficient resources to make payments of ground rents under the head leases the company for the next 12 months from ground rents receivable and premiums receive for lease extensions, it will eventually exhaust these reserves and its continued ability to trade as a going concern will depend on renegotiating payments under the head lease to match current levels of income. During the 2020 the directors commenced these discussions with the freeholder and have prepared these accounts on a going concern basis assuming they will be successful in their negotiations.The negotiaitions are still ongoing at the date of the approval of the financial statements.If this is not the case then company will no longer be a going concern.
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