NPP Properties Limited Filleted accounts for Companies House (small and micro)

NPP PROPERTIES LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2018-03-01 Sage Accounts Production Advanced 2018 Update 1 - FRS xbrli:pure xbrli:shares iso4217:GBP 04168865 2018-03-01 2019-02-28 04168865 2019-02-28 04168865 2018-02-28 04168865 2018-02-28 04168865 core:PlantMachinery 2018-03-01 2019-02-28 04168865 bus:Director1 2018-03-01 2019-02-28 04168865 bus:Director2 2018-03-01 2019-02-28 04168865 core:PlantMachinery 2018-02-28 04168865 core:PlantMachinery 2019-02-28 04168865 core:AfterOneYear 2019-02-28 04168865 core:AfterOneYear 2018-02-28 04168865 core:WithinOneYear 2019-02-28 04168865 core:WithinOneYear 2018-02-28 04168865 core:ShareCapital 2019-02-28 04168865 core:ShareCapital 2018-02-28 04168865 core:SharePremium 2019-02-28 04168865 core:SharePremium 2018-02-28 04168865 core:RetainedEarningsAccumulatedLosses 2019-02-28 04168865 core:RetainedEarningsAccumulatedLosses 2018-02-28 04168865 core:PlantMachinery 2018-02-28 04168865 bus:SmallEntities 2018-03-01 2019-02-28 04168865 bus:AuditExemptWithAccountantsReport 2018-03-01 2019-02-28 04168865 bus:FullAccounts 2018-03-01 2019-02-28 04168865 bus:SmallCompaniesRegimeForAccounts 2018-03-01 2019-02-28 04168865 bus:PrivateLimitedCompanyLtd 2018-03-01 2019-02-28 04168865 core:Buildings 2018-02-28 04168865 core:Buildings 2018-03-01 2019-02-28 04168865 core:Buildings 2019-02-28

COMPANY REGISTRATION NUMBER: 04168865

NPP PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 February 2019

NPP PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

28 February 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	4		1,220,317	1,128,448

Current assets

Stocks		1,029,445	904,235
Debtors	5	3,066	9,453
Cash at bank and in hand		27,151	166,169
		-------------	-------------
		1,059,662	1,079,857

Creditors: amounts falling due within one year	6	224,164		81,496
		-------------		-------------
Net current assets			835,498	998,361
			-------------	-------------
Total assets less current liabilities			2,055,815	2,126,809

Creditors: amounts falling due after more than one year	7		1,162,290	1,247,698

Provisions

Taxation including deferred tax	7,397	21,535
	-------------	-------------
Net assets	886,128	857,576
	-------------	-------------

NPP PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

28 February 2019

	2019		2018
Note	£	£	£

Capital and reserves

Called up share capital	335	335
Share premium account	307,058	307,058
Profit and loss account	578,735	550,183
	----------	----------
Shareholders funds	886,128	857,576
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 November 2019 , and are signed on behalf of the board by:

M Wall	D Jiao
Director	Director

Company registration number: 04168865

NPP PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Belton Road, Sandtoft, Doncaster, North Lincolnshire, DN8 5SX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% reducing balance
Investment Property	-	Investment property

Land is not depreciated.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Tangible assets

	Plant and machinery	Investment property	Total
	£	£	£
Cost
At 1 March 2018	74,332	1,098,669	1,173,001
Additions	–	129,340	129,340
Disposals	( 3,262)	–	( 3,262)
	---------	-------------	-------------
At 28 February 2019	71,070	1,228,009	1,299,079
	---------	-------------	-------------
Depreciation
At 1 March 2018	31,116	13,437	44,553
Charge for the year	10,804	26,129	36,933
Disposals	( 2,724)	–	( 2,724)
	---------	-------------	-------------
At 28 February 2019	39,196	39,566	78,762
	---------	-------------	-------------
Carrying amount
At 28 February 2019	31,874	1,188,443	1,220,317
	---------	-------------	-------------
At 28 February 2018	43,216	1,085,232	1,128,448
	---------	-------------	-------------

The investment property is included in the accounts at its historical cost. The property remains under construction at the balance sheet date and as such the directors do not consider its market value to be materially different.

5. Debtors

	2019	2018
	£	£
Other debtors	3,066	9,453
	-------	-------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	14,678	40,522
Corporation tax	17,319	16,510
Social security and other taxes	34,133	–
Other creditors	158,034	24,464
	----------	---------
	224,164	81,496
	----------	---------

7. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Bank loans and overdrafts	1,162,290	1,247,698
	-------------	-------------

8. Employee numbers

The average number of people under employment contracts during the year, amounted to nil (2018-nil).