NTH Properties Ltd
|
Registered number: |
11421898
|
Balance Sheet |
as at 30 June 2021
|
|
Notes |
|
|
2021 |
|
|
2020 |
£ |
£ |
Fixed assets |
Tangible assets |
4 |
|
|
400,000 |
|
|
395,964 |
|
Current assets |
Debtors |
5 |
|
517 |
|
|
- |
Cash at bank and in hand |
|
|
3,107 |
|
|
1,266 |
|
|
|
3,624 |
|
|
1,266 |
|
Creditors: amounts falling due within one year |
6 |
|
(137,445) |
|
|
(135,732) |
|
Net current liabilities |
|
|
|
(133,821) |
|
|
(134,466) |
|
Total assets less current liabilities |
|
|
|
266,179 |
|
|
261,498 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(281,365) |
|
|
(281,380) |
|
Provisions for liabilities |
|
|
|
(767) |
|
|
- |
|
|
Net liabilities |
|
|
|
(15,953) |
|
|
(19,882) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
- |
Revaluation reserve |
|
|
|
(767) |
|
|
- |
Profit and loss account |
|
|
|
(15,188) |
|
|
(19,882) |
|
Shareholders' funds |
|
|
|
(15,953) |
|
|
(19,882) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
R Forsyth |
Director |
Approved by the board on 25 March 2022
|
|
NTH Properties Ltd
|
Notes to the Accounts |
for the year ended 30 June 2021
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
2 |
Going concern |
|
|
The directors are assessing, on a daily basis, the impact of the significant uncertainty arising from the COVID-19 virus. Whilst the directors appreciates there is a significant uncertainty surrounding the future economic climate, the company is well placed to address these impacts. The directors have agreed to continue to provide financial support to the company to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements and therefore the accounts have been prepared on a going concern basis. |
|
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
|
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
|
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
|
|
|
Investment property |
|
Investment property is carried at fair value determined annulay by the director and derived from the current market rents and investment property yeilds for comparable real estate, adjusted if neccesary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recorded in the profit and loss. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
|
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate.
|
|
3 |
Employees |
2021 |
|
2020 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
4 |
Investment property |
|
|
|
|
|
|
|
|
Investment property |
£ |
|
Cost |
|
At 1 July 2020 |
395,964 |
|
Surplus on revaluation |
4,036 |
|
At 30 June 2021 |
400,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 June 2021 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2021 |
400,000 |
|
At 30 June 2020 |
395,964 |
|
The 2021 valuations were made by the director on an open market value for existing use basis. |
|
|
5 |
Debtors |
2021 |
|
2020 |
£ |
£ |
|
|
Prepayments |
|
|
|
|
517 |
|
- |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
£ |
£ |
|
|
Trade creditors |
649 |
|
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
133,277 |
|
133,277 |
|
Directors current account |
3,019 |
|
1,455 |
|
Other creditors |
500 |
|
1,000 |
|
|
|
|
|
|
137,445 |
|
135,732 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
£ |
£ |
|
|
Bank loans |
281,365 |
|
281,380 |
|
|
|
|
|
|
|
|
8 |
Loans |
2021 |
|
2020 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
281,381 |
|
272,124 |
|
|
|
|
|
|
|
|
|
|
The loan is for a fixed period of 25 years and interest repayments were made in the current year. The loan is secured over the company's investment property. |
|
|
9 |
Revaluation reserve |
2021 |
|
2020 |
£ |
£ |
|
|
Deferred taxation arising on the revaluation of land and buildings |
(767) |
|
- |
|
|
At 30 June 2021 |
(767) |
|
- |
|
|
|
|
|
|
|
|
|
|
10 |
Other information |
|
|
NTH Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
3 Wolsey Avenue |
|
Thames Ditton |
|
KT7 0PU |