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COMPANY REGISTRATION NUMBER: 09647632

Northcote Property Limited

Filleted Unaudited Financial Statements

31 March 2025

Northcote Property Limited

Statement of Financial Position

31 March 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 4 |  | 6,126,137 | 5,784,825

Current assets

Debtors | 5 | 10,228 |  | 10,047
Cash at bank and in hand | 65,903 |  | 76,228
| -------- |  | --------
| 76,131 |  | 86,275

Creditors: amounts falling due within one year | 6 | 5,317,097 |  | 5,180,881
| ------------ |  | ------------
Net current liabilities |  | 5,240,966 | 5,094,606
|  | ------------ | ------------
Total assets less current liabilities |  | 885,171 | 690,219
|  | --------- | ---------
Net assets |  | 885,171 | 690,219
|  | --------- | ---------

Capital and reserves

Called up share capital |  | 2 | 2
Profit and loss account |  | 885,169 | 690,217
|  | --------- | ---------
Shareholders funds |  | 885,171 | 690,219
|  | --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Northcote Property Limited

Statement of Financial Position (continued)

31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 3 December 2025 , and are signed on behalf of the board by:

Mr J Cocklin
Director

Company registration number: 09647632

Northcote Property Limited

Notes to the Financial Statements

Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue from rental income is recognised on a straight-line basis over the lease term, in accordance with the lease agreements in place. Rental income is recognised only when it is probable that the economic benefits associated with the lease will flow to the entity, and the amount of income can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost and relate to investment properties. These are stated at their fair value by the directors. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 10% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Tangible assets

| Investment properties | Fixtures and fittings | Total
| £ | £ | £
Cost |  |  |
At 1 April 2024 | 5,781,964 | 3,858 | 5,785,822
Additions | 334,819 | 7,240 | 342,059
| ------------ | -------- | ------------
At 31 March 2025 | 6,116,783 | 11,098 | 6,127,881
| ------------ | -------- | ------------
Depreciation |  |  |
At 1 April 2024 | – | 997 | 997
Charge for the year | – | 747 | 747
| ------------ | -------- | ------------
At 31 March 2025 | – | 1,744 | 1,744
| ------------ | -------- | ------------
Carrying amount |  |  |
At 31 March 2025 | 6,116,783 | 9,354 | 6,126,137
| ------------ | -------- | ------------
At 31 March 2024 | 5,781,964 | 2,861 | 5,784,825
| ------------ | -------- | ------------

The directors consider that the investment properties are held at their fair value.
5. Debtors

| 2025 | 2024
| £ | £
Other debtors | 10,228 | 10,047
| -------- | --------

6. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | – | 569
Corporation tax | 36,311 | 52,918
Social security and other taxes | 4,176 | 2,000
Other creditors | 5,276,610 | 5,125,394
| ------------ | ------------
| 5,317,097 | 5,180,881
| ------------ | ------------