Neilson Properties Limited - Accounts to registrar (filleted) - small 23.2.5
Neilson Properties Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| NEILSON PROPERTIES LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| NEILSON PROPERTIES LIMITED (REGISTERED NUMBER: 04386142) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2023 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| NEILSON PROPERTIES LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditors |
| Lygon House |
| 50 London Road |
| Bromley |
| Kent |
| BR1 3RA |
| NEILSON PROPERTIES LIMITED (REGISTERED NUMBER: 04386142) |
| BALANCE SHEET |
| 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| NEILSON PROPERTIES LIMITED (REGISTERED NUMBER: 04386142) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2023 |
| 1. | STATUTORY INFORMATION |
| Neilson Properties Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and |
| assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the |
| amounts reported for revenues and expenditures during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management do not consider that there is a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period. |
| Going concern |
| It is the directors' opinion that the company is a going concern for the foreseeable future. Although the balance sheet shows negative assets, the company will continue to be supported by the parent companies for a period exceeding 12 months from the date of approval of these financial statements. |
| 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 |
| Fixtures and fittings | - |
| 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 Statement of Income and Retained Earnings, 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. |
| NEILSON PROPERTIES LIMITED (REGISTERED NUMBER: 04386142) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Debtors |
| Short term debtors are measures 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. |
| Cash and cash equivalents |
| Cash and cash equivalents include cash in hand and deposits held at call with banks. Bank overdrafts, when applicable are shown within borrowings in current liabilities. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2022 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2022 |
| and 31 March 2023 |
| DEPRECIATION |
| At 1 April 2022 |
| Charge for year |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2022 |
| Additions |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| NEILSON PROPERTIES LIMITED (REGISTERED NUMBER: 04386142) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 5. | INVESTMENT PROPERTY - continued |
| Investment property was valued on an open market basis on 6 June 2016 by Strutt & Parker LLP. The directors do not consider that there has been any significant material movement in valuation since that date except for additions incurred during the year.. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 677,730 | 707,310 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| The bank loan is secured by way of a guarantee from Mr L S Neilson. |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the auditors was unqualified. |
| for and on behalf of |
| NEILSON PROPERTIES LIMITED (REGISTERED NUMBER: 04386142) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company's ultimate parent undertaking at the balance sheet date was Neilson Estates Limited, a company incorporated in England and Wales. Neilson Estates Limited is controlled by Mr L S Neilson. |