ACCOUNTS - Final Accounts preparation

Registered number: 13565997

NAED REPIP YTREPORP LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

NAED REPIP YTREPORP LIMITED

REGISTERED NUMBER:13565997

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		As restated
	2024	Unaudited 2023
Note	£	£

Fixed assets
Tangible assets	5		727,790		743,330
Investment property	6		288,783		203,360
Current assets
Debtors: amounts falling due within one year	7	100		190,100
Creditors: amounts falling due within one year	8	(860,836)		(1,031,744)
Net current liabilities			(860,736)		(841,644)

Net assets			155,837		105,046

Capital and reserves
Called up share capital	100	100
Profit and loss account	155,737	104,946
	155,837	105,046

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D A Piper

Director

Date: 29 September 2025

The notes on pages 2 to 7 form part of these financial statements.

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NAED REPIP YTREPORP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

Naed Repip Ytreporp Limited (registered number 13565997) is a private company, limited by shares, and
incorporated in England and Wales. The registered office is Unit 10 Strashleigh View, Lee Mill Industrial Estate, Ivybridge, Devon, United Kingdom, PL21 9GS.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The Directors confirm their assumption that the company is a going concern and no significant uncertainty exists in this respect. This assumption is based on both the forecasts for 2025 as further supported by post-year end results.
Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

TAXATION

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

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NAED REPIP YTREPORP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.7

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model 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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

INVESTMENT PROPERTY

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Director. The Director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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NAED REPIP YTREPORP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

3.	CHANGE IN ACCOUNTING POLICY

During the year, the company changed its accounting policy for certain properties previously classified as investment properties. Previously, the Company accounted for a warehouse as an investment property, however, in the current year, the property has been reclassified to freehold property on the basis that it is occupied by a fellow Group company for use in its operations. This change was made to better reflect the nature and use of the assets in line with FRS102.
The change in accounting policy has been applied retrospectively, and comparative figures have been restated accordingly.
Under the previous policy, investment properties were measured at fair value with changes recognised in profit or loss. Under the new policy, the properties are measured at cost less accumulated depreciation and impairment.
The effect of the adjustment on the current and prior year is as follows:
Investment properties have decreased by £777,000 (2023: £777,000).
Freehold property cost within property, plant and equipment has increased by £777,000 (2023: £777,000).
Accumulated depreciation has increased by £33,670 (2023: £18,130).
Profit and loss reserves brought forward have reduced by £33,670 (2023: £18,130).
A depreciation charge of £15,540 has been recognised in the current year (2023: £15,540).

EMPLOYEES

	The Company has no employees other than the directors, who did not receive any remuneration (2023: £NIL).

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NAED REPIP YTREPORP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	TANGIBLE FIXED ASSETS

		Freehold property
		£
	COST
	At 1 January 2024 - as restated	777,000
	At 31 December 2024	777,000
	DEPRECIATION
	At 1 January 2024 - as restated	33,670
	Charge for the year on owned assets	15,540
	At 31 December 2024	49,210
	NET BOOK VALUE
	At 31 December 2024	727,790

6.	INVESTMENT PROPERTY

		Freehold investment property
		£
	VALUATION
	At 1 January 2024 - as restated	203,360
	Additions at cost	85,423
	AT 31 DECEMBER 2024	288,783

The 2024 valuations were made by the Director, using observable market prices.

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NAED REPIP YTREPORP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

DEBTORS

						As restated
					2024	Unaudited 2023
					£	£


Amounts owed by group undertakings	-	190,000
Called up share capital not paid	100	100
	100	190,100

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2024	Unaudited 2023
		£	£

Amounts owed to group undertakings	838,525	1,012,225
Corporation tax	22,311	19,519
	860,836	1,031,744

9.	PRIOR YEAR ADJUSTMENT

During the current financial year, an error in the prior year’s financial statements relating to intercompany rent income was identified. Rent income of £24,000 had been incorrectly accrued in the period ending 31 December 2022, resulting in an overstatement of reserves and receivables in the prior period.
This error has been corrected by restating comparative figures for the year ended 31 December 2023. The adjustment reduces profit and loss reserves brought forward by £24,000 and reduces the related intercompany receivable.

10.

RELATED PARTY TRANSACTIONS

During the year, the company received an amount of £95,000 (2023: £95,000) in regard to rent from a fellow group undertaking. At the balance sheet date, £Nil (2023: £214,000) of income was accruing in respect of this rent.
At the balance sheet date, £121,781 (2023: £26,557) was due to a fellow group undertaking by the company.
At the balance sheet date, £716,744 (2023: £985,668) was due to the parent company by the company.
At the balance sheet date, £98 (2023: £190,098) was due from the parent company.
Key management personnel are limited to the directors, who do not receive any remuneration from this company.

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NAED REPIP YTREPORP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

11.	CONTROLLING PARTY

The ultimate parent company and controlling party is Naed Repip (Holdings) Limited, (registered office: Unit 10 Strashleigh View, Lee Mill Industrial Estate, Ivybridge, Devon, England, PL21 9GS).

12.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 September 2025 by Stephen Patey BA ACA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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