| NARRD LIMITED |
| Registered number: |
12877871 |
| Balance Sheet |
| as at 30 September 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
25,808 |
|
|
32,260 |
| Investments |
4 |
|
|
507,337 |
|
|
507,337 |
|
|
|
|
533,145 |
|
|
539,597 |
|
| Current assets |
| Work in progress |
|
|
969,160 |
|
|
922,647 |
| Debtors |
5 |
|
6,877 |
|
|
7,537 |
| Cash at bank and in hand |
|
|
1,592 |
|
|
50 |
|
|
|
977,629 |
|
|
930,234 |
|
| Creditors: amounts falling due within one year |
6 |
|
(722,772) |
|
|
(550,227) |
|
| Net current assets |
|
|
|
254,857 |
|
|
380,007 |
|
| Total assets less current liabilities |
|
|
|
788,002 |
|
|
919,604 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(840,731) |
|
|
(963,186) |
|
|
|
| Net liabilities |
|
|
|
(52,729) |
|
|
(43,582) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
(52,730) |
|
|
(43,583) |
|
| Shareholder's funds |
|
|
|
(52,729) |
|
|
(43,582) |
|
|
|
|
|
|
|
|
| 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 member has 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. |
|
|
|
| ….............................. |
| Mr Rishil Dhruva |
| Director |
| Approved by the board on 19 June 2025 |
|
| NARRD LIMITED |
| Notes to the Accounts |
| for the year ended 30 September 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). |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Motor vehicles |
20% reducing balance |
|
|
Investment properties |
|
Investment properties are measured at fair value. Changes in fair value are included in the profit and loss account. |
|
|
Stocks and work in progress |
|
Stock represents property acquired for development together with work in progress on the property. These assets are included at the lower of cost and net realisable value. Costs for this purpose comprises the purchase cost of the land and building and development expenditure. |
|
|
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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Motor vehicles |
| £ |
|
Cost |
|
At 1 October 2023 |
40,325 |
|
At 30 September 2024 |
40,325 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2023 |
8,065 |
|
Charge for the year |
6,452 |
|
At 30 September 2024 |
14,517 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2024 |
25,808 |
|
At 30 September 2023 |
32,260 |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
Investment |
| undertakings |
properties |
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 October 2023 |
2 |
|
507,335 |
|
507,337 |
|
|
At 30 September 2024 |
2 |
|
507,335 |
|
507,337 |
|
|
| 5 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Other debtors |
6,877 |
|
7,537 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade creditors |
131,803 |
|
94,972 |
|
Other creditors |
590,969 |
|
455,255 |
|
|
|
|
|
|
722,772 |
|
550,227 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans |
840,731 |
|
963,186 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2024 |
|
2023 |
| £ |
£ |
|
Creditors include: |
|
|
Secured loans |
840,731 |
|
963,186 |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured by legal charges over the company's land and building acquired for development and investment properties. |
|
|
| 9 |
Related party transactions |
|
|
Included in other creditors is an amount owed to director of £269,203 (2023: £150,849). The outstanding balance is interest free and payable on demand. |
|
| 10 |
Going concern |
|
|
As at the balance sheet date the company's liabilities exceeded total assets. The director, however, considers that the company has sufficient liquid assets to meet its liabilities as and when they fall due, and that the company has sufficient support from its creditors. The director has confirmed to continue his support and will not demand repayment of his loan until the company is in position to do so. Accordingly the director considers that it is appropriate to prepare the accounts on a going concern basis. |
|
|
| 11 |
Other information |
|
|
NARRD LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
67 Byewaters |
|
Croxley Green |
|
Watford |
|
Hertfordshire |
|
WD18 8WH |