| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2024 |
| for |
| Neighbourhood Property Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2024 |
| for |
| Neighbourhood Property Ltd |
| Neighbourhood Property Ltd (Registered number: 11092773) |
| Contents of the Financial Statements |
| for the year ended 30 November 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Neighbourhood Property Ltd |
| Company Information |
| for the year ended 30 November 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 22-28 Willow Street |
| Accrington |
| Lancashire |
| BB5 1LP |
| Neighbourhood Property Ltd (Registered number: 11092773) |
| Abridged Balance Sheet |
| 30 November 2024 |
| 30/11/24 | 30/11/23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Neighbourhood Property Ltd (Registered number: 11092773) |
| Abridged Balance Sheet - continued |
| 30 November 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Neighbourhood Property Ltd (Registered number: 11092773) |
| Notes to the Financial Statements |
| for the year ended 30 November 2024 |
| 1. | STATUTORY INFORMATION |
| Neighbourhood Property Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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. |
| Basic financial instruments |
| Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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. |
| Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| 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. |
| Neighbourhood Property Ltd (Registered number: 11092773) |
| Notes to the Financial Statements - continued |
| for the year ended 30 November 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 December 2023 |
| Additions |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2023 |
| and 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| Fair value at 30 November 2024 is represented by: |
| £ |
| Valuation in 2019 | 125,579 |
| Valuation in 2021 | 125,527 |
| Cost | 363,894 |
| 615,000 |
| One investment property was valued on saleability value basis on 16 October 2019 by Messrs Paragon . |
| The other investment property was valued on a market value basis on 23/08/2021 by Messrs Scanlans Chartered Surveyors LLP |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| Neighbourhood Property Ltd (Registered number: 11092773) |
| Notes to the Financial Statements - continued |
| for the year ended 30 November 2024 |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30/11/24 | 30/11/23 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 9. | RELATED PARTY DISCLOSURES |
| At the year end, the company has an outstanding balance of £18,624 owed to Neighbourhood Property Group Limited and £18,089 owed to Kennoway Investments, of which Mr Madden is related to. |
| There was also an amount of £136,789 (2023: £12,580), owed to Mr Madden, included in amounts falling due after more than one year. |