IRIS Accounts Production v23.3.0.418 10753259 director 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure107532592022-03-31107532592023-03-31107532592022-04-012023-03-31107532592021-03-31107532592021-04-012022-03-31107532592022-03-3110753259ns16:EnglandWales2022-04-012023-03-3110753259ns15:PoundSterling2022-04-012023-03-3110753259ns11:Director12022-04-012023-03-3110753259ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3110753259ns11:SmallEntities2022-04-012023-03-3110753259ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3110753259ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3110753259ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3110753259ns11:FullAccounts2022-04-012023-03-3110753259ns11:OrdinaryShareClass12022-04-012023-03-3110753259ns11:RegisteredOffice2022-04-012023-03-3110753259ns6:CurrentFinancialInstruments2023-03-3110753259ns6:CurrentFinancialInstruments2022-03-3110753259ns6:Non-currentFinancialInstruments2023-03-3110753259ns6:Non-currentFinancialInstruments2022-03-3110753259ns6:ShareCapital2023-03-3110753259ns6:ShareCapital2022-03-3110753259ns6:FurtherSpecificReserve3ComponentTotalEquity2023-03-3110753259ns6:FurtherSpecificReserve3ComponentTotalEquity2022-03-3110753259ns6:RetainedEarningsAccumulatedLosses2023-03-3110753259ns6:RetainedEarningsAccumulatedLosses2022-03-3110753259ns6:PlantMachinery2022-04-012023-03-3110753259ns6:FurnitureFittings2022-04-012023-03-3110753259ns6:PlantMachinery2022-03-3110753259ns6:FurnitureFittings2022-03-3110753259ns6:PlantMachinery2023-03-3110753259ns6:FurnitureFittings2023-03-3110753259ns6:PlantMachinery2022-03-3110753259ns6:FurnitureFittings2022-03-3110753259ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3110753259ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3110753259ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3110753259ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3110753259ns6:Secured2023-03-3110753259ns6:Secured2022-03-3110753259ns6:DeferredTaxation2022-03-3110753259ns6:DeferredTaxation2023-03-3110753259ns11:OrdinaryShareClass12023-03-3110753259ns6:RetainedEarningsAccumulatedLosses2022-03-3110753259ns6:FurtherSpecificReserve3ComponentTotalEquity2022-03-3110753259ns6:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 10753259 (England and Wales)















14 NORWOOD STREET LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






14 NORWOOD STREET LIMITED (REGISTERED NUMBER: 10753259)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


14 NORWOOD STREET LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: J Whetlor





REGISTERED OFFICE: King Arthurs Court
Maidstone Road
Charing
Ashford
Kent
TN27 0JS





REGISTERED NUMBER: 10753259 (England and Wales)





ACCOUNTANTS: Spurling Cannon
King Arthur’s Court
Maidstone Road
Charing
Kent
TN27 0JS

14 NORWOOD STREET LIMITED (REGISTERED NUMBER: 10753259)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 325 1,644
Investment property 5 665,000 665,000
665,325 666,644

CURRENT ASSETS
Debtors 6 15,695 -
Cash at bank 39,979 31,381
55,674 31,381
CREDITORS
Amounts falling due within one year 7 (90,442 ) (50,819 )
NET CURRENT LIABILITIES (34,768 ) (19,438 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

630,557

647,206

CREDITORS
Amounts falling due after more than one year 8 (521,871 ) (562,680 )

PROVISIONS FOR LIABILITIES 11 (3,461 ) (3,461 )
NET ASSETS 105,225 81,065

14 NORWOOD STREET LIMITED (REGISTERED NUMBER: 10753259)

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 12 1 1
Fair value reserve 13 18,215 18,215
Retained earnings 13 87,009 62,849
SHAREHOLDERS' FUNDS 105,225 81,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 October 2023 and were signed by:





J Whetlor - Director


14 NORWOOD STREET LIMITED (REGISTERED NUMBER: 10753259)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

14 Norwood Street Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixture & Fittings - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 year 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.

3. EMPLOYEES AND DIRECTORS

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

14 NORWOOD STREET LIMITED (REGISTERED NUMBER: 10753259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and Fixture &
machinery Fittings Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 23,785 5,274 29,059
DEPRECIATION
At 1 April 2022 23,785 3,630 27,415
Charge for year - 1,319 1,319
At 31 March 2023 23,785 4,949 28,734
NET BOOK VALUE
At 31 March 2023 - 325 325
At 31 March 2022 - 1,644 1,644

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 665,000
NET BOOK VALUE
At 31 March 2023 665,000
At 31 March 2022 665,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sundry debtors 15,695 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Corporation Tax 5,976 4,228
Sundry creditors 68,727 34,499
Directors' current accounts 4,779 532
Accrued expenses 960 1,560
90,442 50,819

14 NORWOOD STREET LIMITED (REGISTERED NUMBER: 10753259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 521,871 529,739
Directors' loan accounts - 32,941
521,871 562,680

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 521,871 529,739

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 531,871 539,739

The mortgage loan is secured on the property and is interest bearing and re-payable by installment.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,461 3,461

Deferred
tax
£   
Balance at 1 April 2022 3,461
Balance at 31 March 2023 3,461

14 NORWOOD STREET LIMITED (REGISTERED NUMBER: 10753259)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 62,849 18,215 81,064
Profit for the year 24,160 24,160
At 31 March 2023 87,009 18,215 105,224