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REGISTERED NUMBER: 03151257 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2022 TO 30 AUGUST 2023

FOR

NORWOOD OFFICE SERVICES LIMITED

NORWOOD OFFICE SERVICES LIMITED (REGISTERED NUMBER: 03151257)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 30 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NORWOOD OFFICE SERVICES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2022 TO 30 AUGUST 2023







DIRECTORS: Mrs E A Smith
Ms G Banks





REGISTERED OFFICE: 2nd Floor, Norwood House
9 Dyke Road
Brighton
East Sussex
BN1 3FE





REGISTERED NUMBER: 03151257 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

NORWOOD OFFICE SERVICES LIMITED (REGISTERED NUMBER: 03151257)

BALANCE SHEET
30 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 - 1,551,016

CURRENT ASSETS
Debtors 4 2,416 33,129
Cash at bank 1,086,499 -
1,088,915 33,129
CREDITORS
Amounts falling due within one year 5 224,336 52,498
NET CURRENT ASSETS/(LIABILITIES) 864,579 (19,369 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

864,579

1,531,647

CREDITORS
Amounts falling due after more than one
year

6

521,274

690,710
NET ASSETS 343,305 840,937

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 7 - 767,849
Retained earnings 343,303 73,086
SHAREHOLDERS' FUNDS 343,305 840,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 August 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





Mrs E A Smith - Director


NORWOOD OFFICE SERVICES LIMITED (REGISTERED NUMBER: 03151257)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 30 AUGUST 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

NORWOOD OFFICE SERVICES LIMITED (REGISTERED NUMBER: 03151257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 AUGUST 2023

3. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST
At 1 July 2022 1,500,000 36,946 15,012
Additions 16,704 - -
Disposals (1,516,704 ) (36,946 ) (15,012 )
At 30 August 2023 - - -
DEPRECIATION
At 1 July 2022 - - 12,635
Eliminated on disposal - - (12,635 )
At 30 August 2023 - - -
NET BOOK VALUE
At 30 August 2023 - - -
At 30 June 2022 1,500,000 36,946 2,377

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 33,104 3,259 1,588,321
Additions - 628 17,332
Disposals (33,104 ) (3,887 ) (1,605,653 )
At 30 August 2023 - - -
DEPRECIATION
At 1 July 2022 22,630 2,040 37,305
Eliminated on disposal (22,630 ) (2,040 ) (37,305 )
At 30 August 2023 - - -
NET BOOK VALUE
At 30 August 2023 - - -
At 30 June 2022 10,474 1,219 1,551,016

NORWOOD OFFICE SERVICES LIMITED (REGISTERED NUMBER: 03151257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 AUGUST 2023

3. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022 33,104
Disposals (33,104 )
At 30 August 2023 -
DEPRECIATION
At 1 July 2022 22,630
Eliminated on disposal (22,630 )
At 30 August 2023 -
NET BOOK VALUE
At 30 August 2023 -
At 30 June 2022 10,474

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 2,783
Amounts owed by associates - 28,774
Other debtors 2,416 -
Tax - 1,572
2,416 33,129

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,441 25,306
Hire purchase contracts - 5,255
Trade creditors - 927
Tax - 5,536
VAT 218,478 78
Other creditors - 11,325
Deferred income - 2,319
Accrued expenses 2,417 1,752
224,336 52,498

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,441 21,442
Bank loans - 2-5 years 18,789 84,180
Bank loans more 5 yr by instal - 38,936
Hire purchase contracts - 11,160
Other creditors 499,044 534,992
521,274 690,710

NORWOOD OFFICE SERVICES LIMITED (REGISTERED NUMBER: 03151257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 30 AUGUST 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 38,936
Hire purchase - 7,953
- 46,889

7. RESERVES
Revaluation
reserve
£   
At 1 July 2022 767,849
Revaluation during the year (767,849 )

At 30 August 2023 -

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mrs E A Smith decreased her loan to the company. As at 30 August 2023, the company owed her £461,689 (2022: £525,026). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable with 12 months notice.

During the year, Ms G Banks increased her loan to the company. As at 30 August 2023, the company owed her £37,356 (2022: £9,966). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable with 12 months notice.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs E A Smith.

This is by virtue of their 100% holding of the issued share capital.