Company Registration No. 653991 (England and Wales)
Norvett Electronics Limited
Unaudited accounts
for the year ended 31 March 2023
Norvett Electronics Limited
Unaudited accounts
Contents
Norvett Electronics Limited
Company Information
for the year ended 31 March 2023
Directors
Mr M J Norman
Mrs C J Norman
Company Number
653991 (England and Wales)
Registered Office
1 North Street
Alfriston
Polegate
East Sussex
BN26 5UG
Accountants
Maiden Accountancy Services
95 Seaside Road
Eastbourne
East Sussex
BN21 3PL
Norvett Electronics Limited
Statement of financial position
as at 31 March 2023
Investments
71,251
115,456
Cash at bank and in hand
10,725
27,852
Creditors: amounts falling due within one year
(19,600)
(20,114)
Net current assets
54,570
7,738
Net assets
125,821
123,194
Called up share capital
2,253
2,253
Revaluation reserve
1,901
1,901
Profit and loss account
121,667
119,040
Shareholders' funds
125,821
123,194
For the year ending 31 March 2023 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 26 October 2023 and were signed on its behalf by
Mr M J Norman
Director
Company Registration No. 653991
Norvett Electronics Limited
Notes to the Accounts
for the year ended 31 March 2023
Norvett Electronics Limited is a private company, limited by shares, registered in England and Wales, registration number 653991. The registered office is 1 North Street, Alfriston, Polegate, East Sussex, BN26 5UG.
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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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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Investments
Subsidiary undertakings
Valuation at 1 April 2022
115,456
Valuation at 31 March 2023
71,251
Amounts falling due within one year
Norvett Electronics Limited
Notes to the Accounts
for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
514
Other creditors
19,600
19,600
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).