REGISTERED NUMBER: 09972054 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

DR NO Property Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Orsteen

REGISTERED OFFICE:

8 Hampstead Gate

1A Frognal

Hampstead

London

NW3 6AL

REGISTERED NUMBER:

09972054 (England and Wales)

ACCOUNTANTS:

Brackman Chopra LLP

Chartered Accountants

8 Hampstead Gate

1 A Frognal

Hampstead

London

NW3 6AL

FIXED ASSETS

Investment property

4

525,825

525,825

CURRENT ASSETS

Debtors

247

247

Cash at bank

31,370

13,366

31,617

13,613

CREDITORS

Amounts falling due within one year

33,092

28,770

NET CURRENT LIABILITIES

(1,475

)

(15,157

)

TOTAL ASSETS LESS CURRENT LIABILITIES

524,350

510,668

CREDITORS

Amounts falling due after more than one year

5

366,995

378,484

NET ASSETS

157,355

132,184

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

157,255

132,084

SHAREHOLDERS' FUNDS

157,355

132,184

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 his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 December 2025 and were signed by:

N Orsteen - Director

1.	STATUTORY INFORMATION

DR NO Property Ltd 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.

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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that 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 affects only that period, or in the period of the revision the future periods if the periods of the revision affects both current and future periods.

Investment property

The Company has adopted the fair value approach in determining the carrying value of its investment properties. While the Company has opted to reply on independent appraisers at the time of the acquisition to determine the fair value of it's investment property, such fair value at the end of the reporting period was determined by the director based on recent prices of similar properties, with adjustments to reflect any changes in economic conditions since the date of the transactions that occurred at those prices. The amounts and timing of recorded changes in fair value for any period would differ if the Company made difference judgements and estimates or utilised different basis for determining fair value.

The carrying amounts of investment properties carried at fair value as at 31 March 2025 amounted to £525,825 (2024:£525,825).

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be measured reliably. Revenue if measured at the fair value of consideration received or receivable, net of discounts.

Turnover represents the amounts derived from rental of property during the year. Revenue is recognised when the company is entitled to it in accordance with the lease.

Expense recognition

Expenses are recognised in the profit & loss when decrease in future economic benefit related to decrease in an asset or liability has arisen that can be measured reliably. Expenses are recognised in profit or loss: on the basis of a direct association between costs incurred and the earning of specific items of income; on the basis of systemic and rational allocation procedures when economic benefits are expected to arise over several accounting periods and the association with income can only be broadly or indirectly determined; or immediately when an expenditure produces no future economic benefits or when, and to the extent that, future economic benefits do not qualify; or cease to qualify, for recognition in the statements of financial position as an asset.

Administrative expenses are costs attributable to premises, legal and professional, general administrative and other business activities of the company.

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.

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.

Functional and presentation currency

The Company's functional and presentation currency is the pound sterling.

Financial assets

Financial assets, including trade and other receivables, cash & bank balances, investments and loans from connected and fellow group company's are initially recognised at transaction price and subsequently measured at amortised cost.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from connected and fellow group companiesare initially measured at transaction price and subsequently measured at amortised cost.

Derecognition of financial assets and liabilities

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

Equity

Ordinary shares are classified as equity. Amounts received over and above the par value of shares are recognised as share premium.

Retained earnings in the statement of financial position represents accumulated profit attributable to equity holders of the Company.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2024

and 31 March 2025

525,825

NET BOOK VALUE

At 31 March 2025

525,825

At 31 March 2024

525,825

The company borrowed £431,375 and £76,125 secured by a first legal charge and unlimited debenture against the property 351 Richmond Road, TW1 2ER from Lloyds Bank Plc due for repayment on 25 October 2051 and 2 November 2051 respectively.

The bank valued the property at £507,000 on 26 January 2016. The director believes that that there has not been any significant changes in the commercial property market hence the fair value of the property fairly approximates its purchase price plus acquisition costs.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans more 5 yr by instal

285,795

297,284

6.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

20,300

20,300

Amounts falling due between one and two years:

Bank loans - 1-2 years

20,300

20,300

Amounts falling due between two and five years:

Bank loans - 2-5 years

60,900

60,900

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

285,795

297,284

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

387,295

398,784

The company borrowed £431,375 and £76,125 secured by a first legal charge and unlimited debenture against the property 351 Richmond Road, TW1 2ER from Lloyds Bank Plc due for repayment on 25 October 2051 and 2 November 2051 respectively.The bank valued the property at £507,000 on 26 January 2016.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 April 2024

132,084

Profit for the year

25,671

Dividends

(500

)

At 31 March 2025

157,255

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The Director N Orsteen has given a Personal Guarantee to Lloyds bank Plc in the value of £500,000 plus interest and costs.

11.	RELATED PARTY DISCLOSURES

During the year, the company charged rent of £64,311 (2024: £43,400) to Root Canal Dental Referral Centre, a business in which the director, N Orsteen has an interest.