REGISTERED NUMBER: 00431255 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

N & G PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms L J Waller

REGISTERED OFFICE:

2 Jordan Street

Knott Mill

Manchester

M15 4PY

REGISTERED NUMBER:

00431255 (England and Wales)

ACCOUNTANTS:

Christian Douglass Accountants Limited

Chartered Accountants

2 Jordan Street

Knott Mill

Manchester

M15 4PY

FIXED ASSETS

Tangible assets

4

12,410

15,430

Investment property

5

525,000

550,000

537,410

565,430

CURRENT ASSETS

Debtors

6

482,910

480,767

Cash at bank

149,147

170,723

632,057

651,490

CREDITORS

Amounts falling due within one year

7

43,877

85,027

NET CURRENT ASSETS

588,180

566,463

TOTAL ASSETS LESS CURRENT LIABILITIES

1,125,590

1,131,893

CREDITORS

Amounts falling due after more than one year

8

(826

)

(3,918

)

PROVISIONS FOR LIABILITIES

(113,500

)

(119,750

)

NET ASSETS

1,011,264

1,008,225

CAPITAL AND RESERVES

Called up share capital

33,000

33,000

Other reserves

9

340,500

359,250

Retained earnings

9

637,764

615,975

SHAREHOLDERS' FUNDS

1,011,264

1,008,225

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 by the director and authorised for issue on 5 December 2025 and were signed by:

Ms L J Waller - Director

1.	STATUTORY INFORMATION

N & G Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00431255 and its registered office is at 2 Jordan Street, Knott Mill, Manchester, M15 4PY.

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.

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.

Plant and machinery etc

-

25% on reducing balance and 10% on cost

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. Accumulated unrealised fair value gains are held separately in an other reserve, see note 11. Annual transfers are made between profit and loss reserves and other reserves as necessary.

Depreciation is not provided in respect of investment properties. Although this accounting policy is in accordance with the Financial Reporting Standard 102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Taxation

Taxation for the year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

21,244

Additions

1,263

At 31 March 2025

22,507

DEPRECIATION

At 1 April 2024

5,814

Charge for year

4,283

At 31 March 2025

10,097

NET BOOK VALUE

At 31 March 2025

12,410

At 31 March 2024

15,430

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

550,000

Revaluations

(25,000

)

At 31 March 2025

525,000

NET BOOK VALUE

At 31 March 2025

525,000

At 31 March 2024

550,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2007

479,000

Valuation in 2018

25,000

Valuation in 2019

75,000

Valuation in 2021

(30,000

)

Valuation in 2022

105,000

Valuation in 2024

(175,000

)

Valuation in 2025

(25,000

)

Cost

71,000

525,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

71,000

71,000

Aggregate depreciation

(28,400

)

(27,690

)

Investment properties were valued on a fair value basis on 31 March 2025 by the director .

The fair value loss during the year has been included in the income statement and, by reserves transfer, within closing other reserves.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by group undertakings

482,910

480,767

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

3,095

3,055

Taxation and social security

5,600

7,016

Other creditors

35,182

74,956

43,877

85,027

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

826

3,918

9.

RESERVES

Reserves include other reserves, which are non-distributable profit reserves representing fair valuation net gains on investment property. A provision for deferred tax has been recognised in respect of the gains.

10.	ULTIMATE PARENT UNDERTAKING