| Northiam Property Holdings Ltd |
| Registered number: |
03126877 |
| Balance Sheet |
| as at 31 July 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
4,012 |
|
|
4,192 |
|
|
|
|
4,012 |
|
|
4,192 |
|
| Current assets |
| Debtors |
7 |
|
1,196 |
|
|
1,656 |
| Cash at bank and in hand |
|
|
63,255 |
|
|
59,063 |
|
|
|
64,451 |
|
|
60,719 |
|
| Creditors: amounts falling due within one year |
8 |
|
(79,904) |
|
|
(68,038) |
|
| Net current liabilities |
|
|
|
(15,454) |
|
|
(7,320) |
|
| Total assets less current liabilities |
|
|
|
(11,442) |
|
|
(3,128) |
|
|
| Net liabilities |
|
|
|
(11,442) |
|
|
(3,128) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Share premium |
|
|
|
- |
|
|
- |
| Profit and loss reserve |
9 |
|
|
(3,128) |
|
|
3,703 |
| Profit and loss account |
|
|
|
(8,315) |
|
|
(6,832) |
|
| Shareholders' funds |
|
|
|
(11,442) |
|
|
(3,128) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Andrew Noton |
| Director |
| Approved by the board on 23 April 2024 |
|
| Northiam Property Holdings Ltd |
| Notes to the Accounts |
| for the year ended 31 July 2023 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover shown in the profit and loss account represents amounts rent receivable for the year , exclusive of Value Added Tax. |
|
Rental income is recognised on a straight line basis over the life of the lease. Lease incentives are amortised over the period of the lease up to when the rent is reviewed to market rates. |
|
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Leasehold land and buildings |
over 20 years |
|
Plant and machinery |
20% straight line |
|
Fixtures, fittings, tools and equipment |
25% straight line |
|
|
|
| 2 |
Operating profit |
2023 |
|
2022 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
180 |
|
180 |
|
|
|
|
|
|
|
180 |
|
180 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 August 2022 |
6,172 |
|
- |
|
- |
|
6,172 |
|
Additions |
- |
|
- |
|
- |
|
- |
|
Surplus on revaluation |
- |
|
- |
|
- |
|
- |
|
Disposals |
- |
|
- |
|
- |
|
- |
|
At 31 July 2023 |
6,172 |
|
- |
|
- |
|
6,172 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2022 |
1,980 |
|
- |
|
- |
|
1,980 |
|
Charge for the year |
180 |
|
- |
|
- |
|
180 |
|
Surplus on revaluation |
- |
|
- |
|
- |
|
- |
|
On disposals |
- |
|
- |
|
- |
|
- |
|
At 31 July 2023 |
2,160 |
|
- |
|
- |
|
2,160 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2023 |
4,012 |
|
- |
|
- |
|
4,012 |
|
At 31 July 2022 |
4,192 |
|
- |
|
- |
|
4,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
1,076 |
|
1,656 |
|
Other debtors-From S/charge |
120 |
|
- |
|
|
|
|
|
|
1,196 |
|
1,656 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Accruals and Deferred Income |
67,904 |
|
55,918 |
|
Other creditors |
12,000 |
|
12,120 |
|
|
|
|
|
|
79,904 |
|
68,038 |
|
|
|
|
|
|
|
|
|
|
|
| 9 |
Share capital |
Nominal |
2023 |
|
2022 |
|
|
value |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
1 |
|
1 |
|
|
|
|
|
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
| 9 |
Profit and loss account |
2023 |
|
2022 |
| £ |
£ |
|
|
At 1 August 2022 |
(3,128) |
|
- |
|
Loss for the years |
(8,315) |
|
- |
|
|
At 31 July 2023 |
(11,443) |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
| 10 |
Going Concern |
|
|
The company owns four head leases granted by the freeholder and has granted a number of leases from these head leases to leaseholders in the Northiam Estate. Under the current leases granted to leaseholders the company is due to collect £2,930 per annum in ground rents, the company is currently due to pay £12,920 per annum in ground rent under the head leases to the freeholder. While the company has sufficient resources to make payments of ground rents under the head leases the company for the next 12 months from ground rents receivable and premiums receive for lease extensions, it will eventually exhaust these reserves and its continued ability to trade as a going concern will depend on renegotiating payments under the head lease to match current levels of income. During the 2020 the directors commenced these discussions with the freeholder and have prepared these accounts on a going concern basis assuming they will be successful in their negotiations.The negotiaitions are ongoing at the date of the approval of the financial statements.If this is not the case then company will no longer be a going concern. |
