COMPANY REGISTRATION NUMBER:
13887522
North Denes Airfield (Holdings) Limited |
|
Filleted Unaudited Abridged Financial Statements |
|
North Denes Airfield (Holdings) Limited |
|
Abridged Statement of Financial Position |
|
28 February 2023
Fixed assets
Tangible assets |
4 |
|
1,572,893 |
|
|
|
|
Current assets
Debtors |
74,876 |
|
Cash at bank and in hand |
3,123 |
|
|
-------- |
|
|
77,999 |
|
|
|
|
Creditors: amounts falling due within one year |
1,217,365 |
|
|
------------ |
|
Net current liabilities |
|
1,139,366 |
|
|
------------ |
Total assets less current liabilities |
|
433,527 |
|
|
|
Creditors: amounts falling due after more than one year |
|
100,000 |
|
|
|
Provisions
Taxation including deferred tax |
|
62,475 |
|
|
--------- |
Net assets |
|
271,052 |
|
|
--------- |
|
|
|
Capital and reserves
Called up share capital |
|
100 |
Revaluation reserve |
|
381,444 |
Profit and loss account |
|
(
110,492) |
|
|
--------- |
Shareholders funds |
|
271,052 |
|
|
--------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 28 February 2023 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 abridged financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.
North Denes Airfield (Holdings) Limited |
|
Abridged Statement of Financial Position (continued) |
|
28 February 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
4 October 2023
, and are signed on behalf of the board by:
Company registration number:
13887522
North Denes Airfield (Holdings) Limited |
|
Notes to the Abridged Financial Statements |
|
Period from 2 February 2022 to 28 February 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is North Denes Airfield, Great Yarmouth, NR50 5TF.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold building |
- |
2% straight line |
|
Plant & equipment |
- |
25% straight line |
|
Fixtures & fittings |
- |
25% straight line |
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
|
Computer equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A
review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date
.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument
.
4.
Tangible assets
|
£ |
Cost or valuation |
|
At 2 February 2022 |
– |
Additions |
1,146,603 |
Revaluations |
442,333 |
|
------------ |
At 28 February 2023 |
1,588,936 |
|
------------ |
Depreciation |
|
At 2 February 2022 |
– |
Charge for the period |
17,630 |
Other movements |
(
1,587) |
|
------------ |
At 28 February 2023 |
16,043 |
|
------------ |
Carrying amount |
|
At 28 February 2023 |
1,572,893 |
|
------------ |
|
|