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Company No: 11788643 (England and Wales)

# NEVERN PLACE RENTALS LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

NEVERN PLACE RENTALS LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

NEVERN PLACE RENTALS LIMITED

## BALANCE SHEET

As at 31 March 2025
NEVERN PLACE RENTALS LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 500,000 |  | 500,000
Investments | 4 | 0 |  | 100
|  | 500,000 |  | 500,100
Current assets |  |  |  |
Debtors | 5 | 3,444 |  | 14,317
Cash at bank and in hand |  | 166,440 |  | 4,101
|  | 169,884 |  | 18,418
Creditors: amounts falling due within one year | 6 | ( 76,996) |  | ( 2,801)
Net current assets |  | 92,888 |  | 15,617
Total assets less current liabilities |  | 592,888 |  | 515,717
Creditors: amounts falling due after more than one year | 7 | ( 492,526) |  | ( 418,403)
Provision for liabilities |  | ( 5,765) |  | ( 5,765)
Net assets |  | 94,597 |  | 91,549
Capital and reserves |  |  |  |
Called-up share capital | 8 | 200 |  | 200
Other reserves |  | 24,575 |  | 24,575
Profit and loss account |  | 69,822 |  | 66,774
Total shareholders' funds |  | 94,597 |  | 91,549

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Nevern Place Rentals Limited (registered number: 11788643) were approved and authorised for issue by the Board of Directors on 06 November 2025. They were signed on its behalf by:

T C Brown Director |  | C J Coronna Director

NEVERN PLACE RENTALS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
NEVERN PLACE RENTALS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Nevern Place Rentals Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 13 Crescent Place,, London, Greater London, England, SW3 2EA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover represents rent receivable from investment properties net of VAT. Rent receivable from tenants are measured at fair value. Rental income is recognised in the period to which it arises on an accrual basis and in accordance with the terms of the lease.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Cash and cash equivalents

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 creditors: amounts falling due within one year.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 500,000
As at 31 March 2025 | 500,000

#### 4. Fixed asset investments

| 2025 |  | 2024
| £ |  | £
Subsidiary undertakings | 0 |  | 100

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by Group undertakings | 1,680 |  | 12,680
Other debtors | 1,764 |  | 1,637
| 3,444 |  | 14,317

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Amounts owed to related parties | 75,000 |  | 0
Taxation and social security | 795 |  | 1,545
Other creditors | 1,201 |  | 1,256
| 76,996 |  | 2,801

Bank loans and overdrafts are secured by a fixed and floating charge over all assets of the company.
The aggregate secured liability is £Nil (2024: £Nil ).

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 332,826 |  | 333,703
Other creditors | 159,700 |  | 84,700
| 492,526 |  | 418,403

Bank loans and overdrafts are secured by a fixed and floating charge over all assets of the company.
The aggregate secured liability is £332,826 (2024: £333,703 ).

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2025 |  | 2024
| £ |  | £
Bank loans | 332,826 |  | 333,703

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
50 Ordinary A shares of £ 1.00 each | 50 |  | 50
50 Ordinary B shares of £ 1.00 each | 50 |  | 50
50 Ordinary C shares of £ 1.00 each | 50 |  | 50
50 Ordinary D shares of £ 1.00 each | 50 |  | 50
| 200 |  | 200

#### 9. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Key management personnel | 159,700 |  | 84,700

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Company under common control | 75,000 |  | 0