Registered number
11086055
NANCY PROPERTY LIMITED
Filleted Accounts
30 November 2024
NANCY PROPERTY LIMITED
Registered number: 11086055
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 1,016,637 1,042,560
1,016,638 1,042,561
Current assets
Debtors 5 324 -
Cash at bank and in hand 539,187 433,994
539,511 433,994
Creditors: amounts falling due within one year 6 (14,939) (11,577)
Net current assets 524,572 422,417
Total assets less current liabilities 1,541,210 1,464,978
Creditors: amounts falling due after more than one year 7 (1,507,450) (1,458,550)
Net assets 33,760 6,428
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,660 6,328
Shareholder's funds 33,760 6,428
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.
Yitong Zheng
Director
Approved by the board on 28 July 2025
NANCY PROPERTY LIMITED
Notes to the Accounts
for the year ended 30 November 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Commercial Property over 50 years
Residential Property 2% Reducing balance
Fixtures, fittings, tools and equipment 25% Reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 1
Additions -
Disposals -
At 30 November 2024 1
Amortisation
At 1 December 2023 -
Provided during the year -
On disposals -
At 30 November 2024 -
Net book value
At 30 November 2024 1
At 30 November 2023 1
4 Tangible fixed assets
Commercial Property Plant & machinery Residential Property Total
£ £ £ £
Cost
At 1 December 2023 321,647 99,999 796,212 1,217,858
Additions - - - -
Surplus on revaluation - - - -
Disposals - - - -
At 30 November 2024 321,647 99,999 796,212 1,217,858
Depreciation
At 1 December 2023 37,526 81,213 56,559 175,298
Charge for the year 6,433 4,697 14,793 25,923
Surplus on revaluation - - - -
On disposals - - - -
At 30 November 2024 43,959 85,910 71,352 201,221
Net book value
At 30 November 2024 277,688 14,089 724,860 1,016,637
At 30 November 2023 284,121 18,786 739,653 1,042,560
5 Debtors 2024 2023
£ £
Trade debtors 324 -
324 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 14,099 10,737
Other creditors 840 840
14,939 11,577
7 Creditors: amounts falling due after one year 2024 2023
£ £
Deferred income 10,000 12,500
Director's loan account 1,489,950 1,438,550
Other creditors 7,500 7,500
1,507,450 1,458,550
8 Controlling party
This company is controlled by Yitong Zheng (100%).
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