Nosy Limited
Unaudited Financial Statements
For the year ended 30 June 2024
Pages for Filing with Registrar
Company Registration No. 08987540 (England and Wales)
Nosy Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Nosy Limited
Balance Sheet
As at 30 June 2024
Page 1
2024
2023
Notes
€
€
€
€
Fixed assets
Tangible assets
3
248,526
248,526
Investment properties
4
2,567,520
2,567,520
2,816,046
2,816,046
Current assets
Debtors
5
1,766
1,772
Cash at bank and in hand
6,467
3,929
8,233
5,701
Creditors: amounts falling due within one year
6
(744,764)
(716,705)
Net current liabilities
(736,531)
(711,004)
Total assets less current liabilities
2,079,515
2,105,042
Creditors: amounts falling due after more than one year
7
(3,380,799)
(3,292,641)
Net liabilities
(1,301,284)
(1,187,599)
Capital and reserves
Called up share capital
8
1,205
1,205
Profit and loss reserves
(1,302,489)
(1,188,804)
Total equity
(1,301,284)
(1,187,599)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 June 2025
Mr R Rodriguez Bernal
Director
Nosy Limited
Balance Sheet (Continued)
As at 30 June 2024
Page 2
Company Registration No. 08987540
Nosy Limited
Notes to the Financial Statements
For the year ended 30 June 2024
Page 3
1
Accounting policies
Company information
Nosy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Victoria Square, St Albans, Hertfordshire, AL1 3TF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in Euros which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest Euro.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The shareholders have confirmed their continued financial support to the company for the foreseeable future and the director has every reason to believe that this will be forthcoming.true
On the basis of this assurance the director believes it is appropriate to prepare the financial statements on a going concern basis.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost.
Other assets
Nil
1.4
Investment properties
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure, and subsequently held at its fair value. In the opinion of the director the cost of investment properties included in the financial statements is equal to their open market value.
Nosy Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 4
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Nosy Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 5
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.9
The financial statements are stated in Euros (€) and are translated at a rate of 1.1739 to the £.
Monetary assets and liabilities denominated in foreign currencies are translated into Euros (€) at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Employees
1
1
Nosy Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 6
3
Tangible fixed assets
Other assets
€
Cost
At 1 July 2023 and 30 June 2024
248,526
Depreciation and impairment
At 1 July 2023 and 30 June 2024
Carrying amount
At 30 June 2024
248,526
At 30 June 2023
248,526
4
Investment property
2024
€
Fair value
At 1 July 2023 and 30 June 2024
2,567,520
5
Debtors
2024
2023
Amounts falling due within one year:
€
€
Prepayments and accrued income
1,766
1,772
6
Creditors: amounts falling due within one year
2024
2023
€
€
Other creditors
730,769
702,643
Accruals and deferred income
13,995
14,062
744,764
716,705
7
Creditors: amounts falling due after more than one year
2024
2023
€
€
Other creditors
3,380,799
3,292,641
Nosy Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 7
8
Called up share capital
2024
2023
€
€
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,205
1,205
1,205
1,205
9
Related party transactions
Included in creditors due in more than one year is an amount of €111,983 (2023 : €86,983 ) due to the shareholders. Included in creditors due in more than one year is a loan of €1,352,000 (2023 : €1,352,000), related interest payable of €642,865 (2023 : €575,453) and further amount payable of €1,273,951 (2023 ; €1,278,205) due to a company in which the shareholders have an interest.