Nocurfew Properties Limited - Accounts to registrar (filleted) - small 23.2.5

NOCURFEW PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 09277478 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

NOCURFEW PROPERTIES LIMITED

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

B Arjomandkhah

G M Wainwright

REGISTERED OFFICE:

St Paul's House

23 Park Square

Leeds

LS1 2ND

REGISTERED NUMBER:

09277478 (England and Wales)

ACCOUNTANTS:

Sedulo Leeds Limited

St Paul's House

23 Park Square

Leeds

West Yorkshire

LS1 2ND

FIXED ASSETS

Tangible assets

1,778

Investment property

2,525,000

2,382,000

2,526,778

2,382,000

CURRENT ASSETS

Debtors

226,501

240,601

Cash at bank and in hand

52,771

31,696

279,272

272,297

CREDITORS

Amounts falling due within one year

367,880

540,817

NET CURRENT LIABILITIES

(88,608

)

(268,520

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,438,170

2,113,480

CREDITORS

Amounts falling due after more than one
year

(1,639,508

)

(1,576,159

)

PROVISIONS FOR LIABILITIES

(130,418

)

(71,186

)

NET ASSETS

668,244

466,135

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

668,144

466,035

SHAREHOLDERS' FUNDS

668,244

466,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2023 and were signed on its behalf by:

G M Wainwright - Director

1.	STATUTORY INFORMATION

Nocurfew Properties Limited 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.

The principal activity of the company in the period under review was that of property investment and property rental.

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 as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

COST

Additions

2,654

At 31 October 2022

2,654

DEPRECIATION

Charge for year

876

At 31 October 2022

876

NET BOOK VALUE

At 31 October 2022

1,778

5.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 November 2021

2,382,000

Revaluations

143,000

At 31 October 2022

2,525,000

NET BOOK VALUE

At 31 October 2022

2,525,000

At 31 October 2021

2,382,000

Investment property has been valued on an open market basis by the directors based on market conditions and their knowledge of market movements since the most recent independent valuation.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

Other debtors

226,501

240,601

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

Bank loans and overdrafts

13,781

16,461

Taxation and social security

9,092

6,625

Other creditors

345,007

517,731

367,880

540,817

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.22

31.10.21

Bank loans

1,608,054

1,539,518

Other creditors

31,454

36,641

1,639,508

1,576,159

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.22

31.10.21

Bank loans

1,621,835

1,555,979

Individual bank loans are secured by fixed charges over the properties to which they relate.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2022 and 31 October 2021:

31.10.22

31.10.21

B Arjomandkhah

Balance outstanding at start of year

5,500

Amounts repaid

(5,500

)

Amounts written off

Amounts waived

Balance outstanding at end of year

G M Wainwright

Balance outstanding at start of year

15,602

13,135

Amounts advanced

7,787

15,602

Amounts repaid

(23,389

)

(13,135

)

Amounts written off

Amounts waived

Balance outstanding at end of year

15,602

Director loans are repayable within 9 months of the balance sheet date. Interest is charged at 2% per annum.

11.	RELATED PARTY DISCLOSURES

At the balance sheet date, included within other creditors were the following balances owed to the directors:

Mr G M Wainwright £271 (2021: £Nil)

Mr B Arjomandkhah £16,000 (2021: £Nil)

The directors of the company are also directors of Nocurfew Events Limited. The company has been advanced monies from Nocurfew Events Limited. During the period under review interest of £10,646 (2021 - £12,666) has been charged on the monies advanced and the balance of £236,336 (2021 - £425,690) remains outstanding at 31 October 2022.

The directors of the company are also directors of Nocurfew Group Limited. The company has advanced monies to Nocurfew Group Limited. A balance of £55,000 (2021 - £55,000) remains outstanding at 31st October 2022.

One of the directors of the company is also a director of Demech Leeds Limited. The company has advanced monies to Demech Leeds Limited. A balance of £170,000 (2021 - £170,000) remains outstanding at 31st October 2022.