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REGISTERED NUMBER: 04741328 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

N8 Properties Limited

N8 Properties Limited (Registered number: 04741328)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


N8 Properties Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs Bhavna Patel
Mr Ajay Patel



SECRETARY: Mr Ajay Patel



REGISTERED OFFICE: 6 Turnpike Lane
Hornsey
London
N8 0PT



REGISTERED NUMBER: 04741328 (England and Wales)



ACCOUNTANTS: ElanTax.com
Unit 3 Cedar Court
1 Royal Oak Yard
London
SE1 3GA



BANKERS: Lloyds Bank plc
19-20 Upper Street
Islington
London
N1 0PJ



SOLICITORS: Fowler de Pledge
23 Greenside
Waterbeach
Cambridge
CB25 9HW

N8 Properties Limited (Registered number: 04741328)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 299,272 326,734
Investment property 5 265,000 265,000
564,272 591,734

CURRENT ASSETS
Debtors 6 204,797 479,315
Cash at bank and in hand 833,856 591,331
1,038,653 1,070,646
CREDITORS
Amounts falling due within one year 7 69,386 79,610
NET CURRENT ASSETS 969,267 991,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,533,539

1,582,770

CREDITORS
Amounts falling due after more than one
year

8

(79,503

)

(217,753

)

PROVISIONS FOR LIABILITIES (75,912 ) (58,872 )
NET ASSETS 1,378,124 1,306,145

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Revaluation reserve 101,211 -
Profit and loss account 1,275,813 1,305,045
1,378,124 1,306,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

N8 Properties Limited (Registered number: 04741328)

Statement of Financial Position - continued
30 September 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2025 and were signed on its behalf by:





Mrs Bhavna Patel - Director


N8 Properties Limited (Registered number: 04741328)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

N8 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Furniture, fixtures & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost

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.

Investment property was revalued in 2017 by the directors using the income yield method. The directors consider the valuation reflects current fair value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

N8 Properties Limited (Registered number: 04741328)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 35 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Leasehold to Plant and
property property machinery
£    £    £   
COST
At 1 October 2023 4,720 743,317 105,122
Additions - - 41,989
At 30 September 2024 4,720 743,317 147,111
DEPRECIATION
At 1 October 2023 - 561,642 70,590
Charge for year - 27,251 19,130
At 30 September 2024 - 588,893 89,720
NET BOOK VALUE
At 30 September 2024 4,720 154,424 57,391
At 30 September 2023 4,720 181,675 34,532

N8 Properties Limited (Registered number: 04741328)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Furniture,
fixtures Motor Office
& fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 230,764 60,000 12,006 1,155,929
Additions 3,919 - 1,402 47,310
At 30 September 2024 234,683 60,000 13,408 1,203,239
DEPRECIATION
At 1 October 2023 170,613 15,000 11,350 829,195
Charge for year 16,018 11,250 1,123 74,772
At 30 September 2024 186,631 26,250 12,473 903,967
NET BOOK VALUE
At 30 September 2024 48,052 33,750 935 299,272
At 30 September 2023 60,151 45,000 656 326,734

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 265,000
NET BOOK VALUE
At 30 September 2024 265,000
At 30 September 2023 265,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2024 265,000

6. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Trade debtors 109 127
Prepayments 4,784 4,984
4,893 5,111

N8 Properties Limited (Registered number: 04741328)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS - continued
30.9.24 30.9.23
£    £   
Amounts falling due after more than one year:
Childcare Plus Limited 199,904 474,204

Aggregate amounts 204,797 479,315

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank charge cards 3,291 9,954
Rent deposit 4,625 4,625
Trade creditors 2,169 29,588
Tax 32,276 13,585
Pension control account - 1,833
Deferred income 4,625 4,625
Accrued expenses 22,400 15,400
69,386 79,610

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Other creditors 3,925 3,925
Directors' loan accounts 75,578 213,828
79,503 217,753

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
Mr Ajay Patel
Balance outstanding at start of year (118,933 ) (263,948 )
Amounts advanced 97,000 145,015
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (21,933 ) (118,933 )

N8 Properties Limited (Registered number: 04741328)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs Bhavna Patel
Balance outstanding at start of year (94,896 ) (133,400 )
Amounts advanced 41,251 38,504
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (53,645 ) (94,896 )

10. RELATED PARTY TRANSACTIONS

The company is under the control of Oranssi Holdings Limited by virtue of it holding the entire share capital of the company at the balance sheet date.

The company has taken advantage of the exemption contained in "The Companies, Partnerships and Groups (Accounts and Reports) Regulation 2015" (SI2015/980) from disclosing transactions with entities which are wholly owned part of the group.

The company has received repayments of £274,300 from Childcare Plus Limited a company in which Mrs Bhavna Patel and Mr Ajay Patel are directors and shareholders. The balance due at the accounting date was £199,904 (2023 - £474,204).