Nantwich Property (SA) Limited - Period Ending 2021-04-30

Nantwich Property (SA) Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

Nantwich Property (SA) Limited

(Registration number: 11857319)
Balance Sheet as at 30 April 2021

	Note	2021 £		2020 £
Fixed assets
Investment property	5		1,520,000		1,520,000
Current assets
Debtors	6	47,608		73,608
Cash at bank and in hand		54,476		14,360
		102,084		87,968
Creditors: Amounts falling due within one year	7	(270,434)		(272,653)
Net current liabilities			(168,350)		(184,685)
Total assets less current liabilities			1,351,650		1,335,315
Creditors: Amounts falling due after more than one year	7		(1,371,084)		(1,418,127)
Net liabilities			(19,434)		(82,812)
Capital and reserves
Called up share capital		100		100
Profit and loss account		(19,534)		(82,912)
Total equity			(19,434)		(82,812)

For the financial year ending 30 April 2021 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 November 2021 and signed on its behalf by:
 

.........................................

Mr A.K. Mayo
Director

Nantwich Property (SA) Limited

Notes to the Financial Statements For The Year Ended 30 April 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
BCL House
2 Pavilion Business Park
Royds Hall Road
Leeds
LS12 6AJ

These financial statements were authorised for issue by the Board on 26 November 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue includes the fair value of rental income from leased properties. The income is recognised as it falls due, in accordance with the lease to which it relates.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable property. Changes in fair value are recognised in profit or loss.

Nantwich Property (SA) Limited

Notes to the Financial Statements For The Year Ended 30 April 2021 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 May 2020	125,432	125,432
At 30 April 2021	125,432	125,432
Depreciation
At 1 May 2020	125,432	125,432
At 30 April 2021	125,432	125,432
Carrying amount
At 30 April 2021	-	-

Nantwich Property (SA) Limited

Notes to the Financial Statements For The Year Ended 30 April 2021 (continued)

5	Investment properties

	2021 £
At 1 May	1,520,000
At 30 April	1,520,000

The directors consider the carrying value of the investment property to be not materially different to its fair value at 30 April 2021.

6

Debtors

	2021 £	2020 £
Trade debtors	47,608	73,608

7

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Loans and borrowings	80,770	80,053
Taxation and social security	21,366	24,802
Other creditors	168,298	167,798
	270,434	272,653
Due after one year
Loans and borrowings	1,371,084	1,418,127

Creditors include secured bank loans of £1,451,854 (2020 £1,498,180). The loans are secured by way of a legal charge over the company's investment properties together with a joint and several guarantee provided by the directors of the company.
The bank loans include amounts repayable by instalments of £1,018,375 (2020 £1,070,916) which fall due after more than five years.

8	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £0.10 each	1,000	100.00	1,000	100.00