REGISTERED NUMBER: 04789784 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

N & B ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Ali

N Ali

SECRETARY:

B Ali

REGISTERED OFFICE:

11 Whitehall Road

Rugby

CV21 3AE

REGISTERED NUMBER:

04789784 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,386

1,840

Investment property

5

2,537,734

2,237,734

2,540,120

2,239,574

CURRENT ASSETS

Debtors

6

362,910

249,228

Cash at bank

5,103

4,929

368,013

254,157

CREDITORS

Amounts falling due within one year

7

(776,779

)

(531,334

)

NET CURRENT LIABILITIES

(408,766

)

(277,177

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,131,354

1,962,397

CREDITORS

Amounts falling due after more than one year

8

(1,118,962

)

(1,095,747

)

NET ASSETS

1,012,392

866,650

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

10

603,940

603,940

Retained earnings

408,450

262,708

1,012,392

866,650

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

N Ali - Director

1.	STATUTORY INFORMATION

N & B Enterprises Limited is a limited company, registered in England and Wales. Its registered office address is 11 Whitehall Road, Rugby, CV21 3AE and the registered number is 04789784.

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.

The presentation currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Going Concern

At the year end the company had net current liabilities of £408,766 (2023: £277,177) and net assets of £1,012,392 (2023: £866,650). The director has considered this and prepared the financial statements on a going concern basis. The director has confirmed that she will continue to support the company financially for the foreseeable future.

Turnover

Turnover comprises of rental income and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of goods and services

Revenue from a contract to provide goods and services is recognised in the period in which the goods and services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Investment property

-

Held at cost not depreciated

Fixtures & fittings

-

15% on reducing balance

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 properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 October 2023

37,145

Additions

967

At 30 September 2024

38,112

DEPRECIATION

At 1 October 2023

35,305

Charge for year

421

At 30 September 2024

35,726

NET BOOK VALUE

At 30 September 2024

2,386

At 30 September 2023

1,840

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

2,237,734

Additions

152,000

Revaluations

148,000

At 30 September 2024

2,537,734

NET BOOK VALUE

At 30 September 2024

2,537,734

At 30 September 2023

2,237,734

Fair value at 30 September 2024 is represented by:

£

Valuation in 2024

148,000

Cost

2,389,734

2,537,734

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

362,910

249,228

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

59,736

18,410

Trade creditors

3,856

-

Taxation and social security

6,744

13,445

Other creditors

706,443

499,479

776,779

531,334

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

1,118,962

1,095,747

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

1,178,698

1,114,157

The bank loans are secured against the individual properties to which they relate to.

10.

RESERVES

Revaluation

reserve

£

At 1 October 2023

and 30 September 2024

603,940

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

B Ali and N Ali

Balance outstanding at start of year

4,588

(10,771

)

Amounts advanced

111,849

18,319

Amounts repaid

(313,796

)

(2,960

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(197,359

)

4,588

12.	RELATED PARTY DISCLOSURES

As at 30 September 2024, the company was owed £361,361 (2023: £243,090) from companies under control by close family relations.

As at 30 September 2024, the company owed £496,673 (2023: £494,339) to a company under control by close family relations.