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Registered number: 11209369 NAOMI TESTLER PROPERTIES LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 28 FEBRUARY 2025
NAOMI TESTLER PROPERTIES LIMITED REGISTERED NUMBER: 11209369 BALANCE SHEET AS AT 28 FEBRUARY 2025
|  | 28 February |  | 29 February
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 3 |  | 577,972 |  | 451,241
Investment property | 4 |  | 300,000 |  | 300,000
|  |  | 877,972 |  | 751,241
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 1,435,129 |  | 1,366,703 |
Cash at bank and in hand | 6 | 9,347 |  | 1,133 |
|  | 1,444,476 |  | 1,367,836 |
Creditors: amounts falling due within one year | 7 | (2,001,362) |  | (1,860,318) |
Net current liabilities |  |  | (556,886) |  | (492,482)
Total assets less current liabilities |  |  | 321,086 |  | 258,759
Creditors: amounts falling due after more than one year | 8 |  | (217,639) |  | (217,639)
Net assets |  |  | 103,447 |  | 41,120
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 103,446 |  | 41,119
|  |  | 103,447 |  | 41,120
Page 1
NAOMI TESTLER PROPERTIES LIMITED REGISTERED NUMBER: 11209369 BALANCE SHEET (CONTINUED) AS AT 28 FEBRUARY 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
N Testler
Director
Date: 9 February 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
NAOMI TESTLER PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1. | General information
Naomi Testler Properties Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the company . 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
NAOMI TESTLER PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 4
NAOMI TESTLER PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 2.Accounting policies (continued)
| 2.8 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.9 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.10 | Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
NAOMI TESTLER PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
3. | Fixed asset investments
|  | Capital contribution in subsidiary interest
|  | £
| Cost or valuation |
| At 1 March 2024 | 451,241
| Additions | 126,731
| At 28 February 2025 | 577,972
4. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 March 2024 | 300,000
| At 28 February 2025 | 300,000
The 2025 valuations were made by the director, on an open market value basis.
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 305,445 | 305,445
|  | 305,445 | 305,445
Page 6
NAOMI TESTLER PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
5. | Debtors
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 1,435,129 | 1,365,253
| Prepayments and accrued income | - | 1,450
|  | 1,435,129 | 1,366,703
6. | Cash and cash equivalents
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 9,347 | 1,133
|  | 9,347 | 1,133
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 746 | -
| Corporation tax | 20,461 | 6,054
| Other creditors | 1,973,845 | 1,850,955
| Accruals and deferred income | 6,310 | 3,309
|  | 2,001,362 | 1,860,318
Page 7
NAOMI TESTLER PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 217,639 | 217,639
|  | 217,639 | 217,639
| The following liabilities were secured:
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 217,639 | 217,639
|  | 217,639 | 217,639
| Details of security provided:
The mortgage amount is secured against the investment property owned by the company.
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 28 February | 29 February
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due after more than 5 years |  |
| Bank loans | 217,639 | 217,639
|  | 217,639 | 217,639
|  | 217,639 | 217,639
Page 8
NAOMI TESTLER PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
10. | Related party transactions
| During the year the Company operated a loan account with the director. The amount due to the director at the year end was £1,605,827 (2024 - £1,294,985). The loan was repayable on demand and no interest has been charged. During the year the Company operated a loan account with connected parties. The balance due to the connected parties at the year end was £nil (2024 - £200,000). The balance is repayable on demand and no interest has been charged. During the year the Company operated a loan with a connected company, by virtue of having common directors. The balance due from them at the year end was £782,970 (2024 - £806,975). The balance is repayable on demand and interest is charged at a rate of 4%. The loan amount outstanding at the year end to a close family member of the director was £30,000. There is a charge of 5% profit on settlement of the loan. During the year the Company operated a loan with a Company under common control. The balance due to the Company under common control at the year end was £23,138 (2024 - £23,138). The balance is repayable on demand and no interest has been charged. During the year the Company operated a loan account with connected parties. The balance due to the connected parties at the year end was £313,265 (2024 - £301,216). The balance is repayable on demand and interest is charged at a rate of 4%.
Page 9