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REGISTERED NUMBER: 03910047 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Northend Properties Limited

Northend Properties Limited (Registered number: 03910047)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Northend Properties Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: I Beaton
G Scott





SECRETARY: I Beaton





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 03910047 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Northend Properties Limited (Registered number: 03910047)

Balance Sheet
31 January 2025

2025 2024
Notes £    £   
FIXED ASSETS
Tangible assets 4 51,320 67,071
Investment property 5 1,868,910 1,864,832
1,920,230 1,931,903

CURRENT ASSETS
Debtors 6 264 4,024
Cash at bank 127,541 81,086
127,805 85,110
CREDITORS
Amounts falling due within one year 7 (64,053 ) (35,401 )
NET CURRENT ASSETS 63,752 49,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,983,982

1,981,612

CREDITORS
Amounts falling due after more than one year 8 (417,021 ) (445,342 )

PROVISIONS FOR LIABILITIES 9 (140,594 ) (143,477 )
NET ASSETS 1,426,367 1,392,793

CAPITAL AND RESERVES
Called up share capital 2 2
Investment property reserves 10 892,020 892,020
Retained earnings 10 534,345 500,771
1,426,367 1,392,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Northend Properties Limited (Registered number: 03910047)

Balance Sheet - continued
31 January 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





I Beaton - Director


Northend Properties Limited (Registered number: 03910047)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Northend Properties Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company was that of letting of own property.

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.

TURNOVER
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover comprises revenue recognised by the company in respect of rent receivable and other income from the letting and management of land and property owned by the company during the year.

Turnover is measured at the fair value of the consideration received or receivable, net of VAT and discounts. Turnover includes revenue earned from the rendering of services.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery25% on reducing balance
Fixtures and fittings25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

INVESTMENT PROPERTIES
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.


Northend Properties Limited (Registered number: 03910047)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued
TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognized in respect of all material timing differences that have originated but not reversed at the balance sheet date.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earning in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

Northend Properties Limited (Registered number: 03910047)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2024 43,779 78,915 122,694
Additions 1,195 - 1,195
At 31 January 2025 44,974 78,915 123,889
DEPRECIATION
At 1 February 2024 33,278 22,345 55,623
Charge for year 2,803 14,143 16,946
At 31 January 2025 36,081 36,488 72,569
NET BOOK VALUE
At 31 January 2025 8,893 42,427 51,320
At 31 January 2024 10,501 56,570 67,071

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024 1,864,832
Additions 4,078
At 31 January 2025 1,868,910
NET BOOK VALUE
At 31 January 2025 1,868,910
At 31 January 2024 1,864,832

Investment property comprises of 75 & 77 Morland Road, Croydon and 16a Parker road property. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties by directors.

Fair value at 31 January 2025 is represented by:
£   
Valuation in 2008 309,502
Valuation in 2012 50,000
Valuation in 2014 50,000
Valuation in 2017 20,036
Valuation in 2019 593,216
Cost 846,156
1,868,910

Northend Properties Limited (Registered number: 03910047)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 264 626
Other debtors - 3,398
264 4,024

The directors consider the carrying value of trade and other receivables approximate to their fair value.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,224 9,963
Trade creditors 2,341 -
Taxation and social security 47,220 19,461
Other creditors 4,268 5,977
64,053 35,401

The directors consider the carrying amounts of current liabilities approximate to their fair values.

Mortgage charge at Companies House has been registered by Lloyds Bank PLC for the loan taken by company, which has fixed, floating charges & negative pledge over the property to which it relates.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 417,021 445,342

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

Mortgage charge at Companies House has been registered by Lloyds Bank PLC for the loan taken by company, which has fixed, floating charges & negative pledge over the property to which it relates.

9. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 140,594 143,477

Deferred
tax
£   
Balance at 1 February 2024 143,477
Provided during year (2,883 )
Balance at 31 January 2025 140,594

Northend Properties Limited (Registered number: 03910047)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

10. RESERVES
Investment
Retained property
earnings reserves Totals
£    £    £   

At 1 February 2024 500,771 892,020 1,392,791
Profit for the year 104,574 104,574
Dividends (71,000 ) (71,000 )
At 31 January 2025 534,345 892,020 1,426,365

PROFIT AND LOSS ACCOUNT
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders.These are distributable reserves.

INVESTMENT PROPERTY RESERVES
The Company uses the Fair value model for the measurement of its investment properties. The reserve records the fair value surplus recognised less the related provision for deferred tax. This is a non-distributable reserve.

PROFIT AND LOSS RESERVES
Retained earnings consist of fair value adjustments and deferred tax in relation to investment properties.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

2025 2024
£    £   
I Beaton and G Scott
Balance outstanding at start of year 3,398 (1,487 )
Amounts advanced 106,409 73,435
Amounts repaid (110,000 ) (68,550 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (193 ) 3,398

12. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors are amounts due to directors of £193 (2024 - £3,398 included in other debtors). This loan is interest free and repayable on demand.

Included in administrative expenses are management charge of £4,167 (2024 - Nil) made from AIDB Ltd in which Iain Beaton is director.

Included in administrative expenses are management charge of £2,500 (2024 - £2,500) made from Safari Service Station Limited in which Iain Beaton is director.