REGISTERED NUMBER: 07923877 (England and Wales)

NOAH PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mr G Davies

Mrs K L Davies

SECRETARY:

Mrs K L Davies

REGISTERED OFFICE:

14 Church Avenue

Llwydcoed

Aberdare

Rhondda Cynon Taf

CF44 0UR

REGISTERED NUMBER:

07923877 (England and Wales)

ACCOUNTANTS:

MHA

Chartered Accountants

MHA House

Charter Court

Swansea Enterprise Park

Swansea

SA7 9FS

FIXED ASSETS

Tangible assets

4

54,425

54,425

Investment property

5

311,899

311,899

366,324

366,324

CURRENT ASSETS

Debtors

6

12,181

1,260

Cash at bank

3,031

30

15,212

1,290

CREDITORS

Amounts falling due within one year

7

150,238

139,976

NET CURRENT LIABILITIES

(135,026

)

(138,686

)

TOTAL ASSETS LESS CURRENT LIABILITIES

231,298

227,638

CREDITORS

Amounts falling due after more than one year

8

(148,611

)

(151,984

)

PROVISIONS FOR LIABILITIES

(19,841

)

(9,784

)

NET ASSETS

62,846

65,870

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

62,746

65,770

SHAREHOLDERS' FUNDS

62,846

65,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

Mr G Davies - Director

1.	STATUTORY INFORMATION

Noah Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

Monetary amounts in these financial statements are rounded to nearest £.

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Impairment of assets

Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.

Provisions and contingencies

Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

Turnover

Turnover represents the rental income due for the accounting period from the company's investment properties.

Revenue recognition

Revenue in respect of rental income is recognised evenly over the period to which it relates.

Tangible fixed assets

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

Fixtures & Fittings - 20% per annum on a straight line basis.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

Financial instruments

Basic financial assets which include trade and other debtors and cash and bank balances, are initially measured at transaction price 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.

Basic financial liabilities, including trade, other creditors and loans, 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.

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.

Going concern

The company has net current liabilities at the balance sheet date. The directors are the major creditors and have indicated that they will continue to support the company.

Due to economic uncertainty, the directors have taken all reasonable and necessary measures to safeguard the business.

After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its financial obligations as they fall due. Accordingly, the directors continues to adopt the going concern basis in preparing the annual report and accounts.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

71,303

DEPRECIATION

At 1 January 2024

and 31 December 2024

16,878

NET BOOK VALUE

At 31 December 2024

54,425

At 31 December 2023

54,425

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

311,899

NET BOOK VALUE

At 31 December 2024

311,899

At 31 December 2023

311,899

Investment property is carried at fair value. Revaluation surpluses are recognised in the Income Statement and deferred tax is provided on these gains at the rate expected to apply on the date the investment property is sold.

If Investment properties had not been revalued and were stated on a historical cost basis, they would have been included at a cost of £269,547 (2023 - £269,547).

The investment properties were valued by the directors on 31 December 2024 at fair value on an existing use open market basis.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,181

1,260

Amounts owed by group undertakings

9,000

-

12,181

1,260

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other creditors

150,238

139,976

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

147,527

150,135

Other creditors

1,084

1,849

148,611

151,984

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

147,527

150,135

147,527

150,135

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

147,527

150,135

The company's bank loan and overdraft facility are secured by a mortgage deed dated 5 February 2013 being a fixed and floating charge over the company's assets in favour of Lloyds Bank PLC.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in Investment property is a Freehold property which is held in trust for the company by its director Mr G Davies, and is subject to a mortgage collaterally secured by an endowment policy.

Included in other creditors is a directors' loan balance of £176 (2023 - £889), which is interest free and repayable on demand.

11.	DISTRIBUTABLE RESERVES

As a result of the adoption of FRS 102 (Section 1A) in respect of revaluation of properties, the company has non distributable reserves of £57,918 (2023 - £60,984) will not be available for distribution until the properties have been sold and an adjustment has been made for any profit or loss on sale.