Nowell Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09320525 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

31ST JANUARY 2024 TO 31ST JANUARY 2025

FOR

NOWELL PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr U M Patel

Mr N U Patel

REGISTERED OFFICE:

Riverside Service Station

431 Kirkstall Road

Leeds

LS4 2QD

REGISTERED NUMBER:

09320525 (England and Wales)

ACCOUNTANTS:

Aspen Waite

Chartered Certified Accountants

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

FIXED ASSETS

Tangible assets

4

3,248,889

3,327,256

CURRENT ASSETS

Debtors

5

245,852

46,252

Cash at bank

68,348

240,872

314,200

287,124

CREDITORS

Amounts falling due within one year

6

(403,180

)

(404,791

)

NET CURRENT LIABILITIES

(88,980

)

(117,667

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,159,909

3,209,589

CREDITORS

Amounts falling due after more than one
year

7

(3,616,165

)

(3,616,275

)

NET LIABILITIES

(456,256

)

(406,686

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(456,356

)

(406,786

)

(456,256

)

(406,686

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2025 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 2nd December 2025 and were signed on its behalf by:

Mr N U Patel - Director

1.	STATUTORY INFORMATION

Nowell Properties Limited is a private company limited by shares, registered in England and Wales. The company's registered number is 09320525 the registered office and principal place of business is, Riverside Service Station, 431 Kirkstall Road, Leeds, LS4 2Q.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

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

Freehold property

-

2% straight line basis

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

Freehold Property

- 2% straight line basis

IMPAIRMENT OF FIXED ASSETS

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment losses have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount recognised for the asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

TAXATION

Taxation for the period 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 period 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.

FINANCIAL INSTRUMENTS

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, are initially recognised at transactions price unless the arrangement constitutes a financial 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.

AUDIT EXEMPTION

Under Section 479a of the Companies Act 2006 available to subsidiary undertakings, the company claims audit exemption due to the parent company Nowell Limited providing a guarantee.

DIVIDENDS

Final dividends are recognised on the date of approval by shareholders. Interim dividends are recognised on the date paid, or the date that they are formally offset against amounts due to shareholders.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 31st January 2024

and 31st January 2025

3,918,371

DEPRECIATION

At 31st January 2024

591,115

Charge for period

78,367

At 31st January 2025

669,482

NET BOOK VALUE

At 31st January 2025

3,248,889

At 30th January 2024

3,327,256

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/25

30/1/24

£

Trade debtors

-

35,000

Amounts owed by participating interests

10,852

Other debtors

235,000

400

245,852

46,252

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/25

30/1/24

£

Corporation tax

9,522

11,133

Other creditors

-

550

Directors' current accounts

393,108

Accruals and deferred income

550

-

403,180

404,791

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31/1/25

30/1/24

£

Amounts owed to group undertakings

3,616,165

3,616,275

8.	PARENT COMPANY

The immediate and ultimate parent company is Nowell Limited, a company registered in England and Wales.

Nowell Limited is the smallest and largest group undertaking to prepare consolidated financial statements which include Nowell Properties Limited, The registered office address is Riverside Service Station, 431 Kirkstall Road, Leeds, LS4 2QD

9.	ULTIMATE CONTROLLING PARTY

For this year and the preceding year the controlling party is Mr U M & Mrs R U Patel, due to their majority

shareholding in the company's parent undertakings.