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Registration number: 09510324

Norland Properties (Bristol) Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Norland Properties (Bristol) Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

Norland Properties (Bristol) Limited

Company Information

Directors

D B Curwen

T A Williams

Registered office

8 Marine Place
Clevedon
BS21 7FX

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Spencer House
Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

 

Norland Properties (Bristol) Limited

Directors' Report
Year Ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

D B Curwen

T A Williams

Principal activity

The principal activity of the company is that of buying, renting and selling of own real estate.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 7 November 2023 and signed on its behalf by:

.........................................
D B Curwen
Director

 

Norland Properties (Bristol) Limited

(Registration number: 09510324)
Balance Sheet
31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

5

775,952

776,128

Current assets

 

Cash at bank and in hand

 

14,605

8,279

Creditors: Amounts falling due within one year

7

(585,352)

(619,496)

Net current liabilities

 

(570,747)

(611,217)

Total assets less current liabilities

 

205,205

164,911

Provisions for liabilities

(8,550)

(8,550)

Net assets

 

196,655

156,361

Capital and reserves

 

Called up share capital

100

100

Retained earnings

196,555

156,261

Shareholders' funds

 

196,655

156,361

 

Norland Properties (Bristol) Limited

(Registration number: 09510324)
Balance Sheet
31 March 2023

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 November 2023 and signed on its behalf by:
 

.........................................
D B Curwen
Director

 

Norland Properties (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Marine Place
Clevedon
BS21 7FX

These financial statements were authorised for issue by the Board on 7 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Norland Properties (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 31 March 2023

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

At 1 April

775,952

At 31 March

775,952

 

Norland Properties (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2023

There has been no valuation of investment property by an independent valuer.

6

Debtors

2023
£

2022
£

-

-

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Taxation and social security

 

10,646

6,420

Other creditors

 

574,706

613,076

 

585,352

619,496