Company Registration No. 10726732 (England and Wales)
NESLEN PROPERTIES LIMITED
Unaudited accounts
for the year ended 30 April 2020
NESLEN PROPERTIES LIMITED
Unaudited accounts
Contents
NESLEN PROPERTIES LIMITED
Company Information
for the year ended 30 April 2020
Directors
MRS J KNIGHTS
MR C R NESLEN
MISS F NESLEN
MR L C NESLEN
Company Number
10726732 (England and Wales)
Registered Office
126 WATERFALL ROAD
LONDON
N14 7JN
ENGLAND
Accountants
Kaushik Khiroya, AFA
THE GATEHOUSE
GATEHOUSE WAY
AYLESBURY
HP19 8DB
NESLEN PROPERTIES LIMITED
Statement of financial position
as at 30 April 2020
Investment property
146,183
146,183
Cash at bank and in hand
372
41
Creditors: amounts falling due within one year
(39,630)
(38,874)
Net current liabilities
(39,258)
(38,833)
Total assets less current liabilities
107,265
107,750
Creditors: amounts falling due after more than one year
(109,970)
(109,970)
Net liabilities
(2,705)
(2,220)
Called up share capital
100
100
Profit and loss account
(2,805)
(2,320)
Shareholders' funds
(2,705)
(2,220)
For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2021 and were signed on its behalf by
MRS J KNIGHTS
Director
Company Registration No. 10726732
NESLEN PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2020
NESLEN PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10726732. The registered office is 126 WATERFALL ROAD, LONDON, N14 7JN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Reducing instalment - 15%
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Revenue, described as turnover, represents rents receivable excluding VAT. Turnover is recognised in accordance with the due dates under the terms of the lease agreement.
NESLEN PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2020
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 section 11.
Basic financial instruments, which include trade and other receivables and payables, cash and bank balances, are amortised at cost.
Advanced financial instruments which include interest rate swap and forward foreign exchange contracts, are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4
Tangible fixed assets
Computer equipment
Fair value at 1 May 2019
146,183
6
Creditors: amounts falling due within one year
2020
2019
Loans from directors
38,850
37,524
7
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
109,970
109,970
8
Average number of employees
During the year the average number of employees was 0 (2019: 0).
