1 March 2022 v2023.29.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP111909862022-03-012023-02-28111909862023-02-28111909862022-02-2811190986core:WithinOneYear2023-02-2811190986core:WithinOneYear2022-02-2811190986core:AfterOneYear2023-02-2811190986core:AfterOneYear2022-02-2811190986core:ShareCapital2023-02-2811190986core:ShareCapital2022-02-2811190986core:RetainedEarningsAccumulatedLosses2023-02-2811190986core:RetainedEarningsAccumulatedLosses2022-02-2811190986bus:Director12022-03-012023-02-2811190986bus:RegisteredOffice2022-03-012023-02-28111909862021-03-012022-02-2811190986countries:EnglandWales2022-03-012023-02-2811190986bus:AuditExemptWithAccountantsReport2022-03-012023-02-2811190986bus:PrivateLimitedCompanyLtd2022-03-012023-02-2811190986bus:SmallEntities2022-03-012023-02-2811190986bus:FullAccounts2022-03-012023-02-28
Company registration number:
11190986
Norwich Property Developments Limited
Unaudited Filleted Financial Statements for the year ended
28 February 2023
Norwich Property Developments Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Norwich Property Developments Limited
Year ended
28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Norwich Property Developments Limited
for the year ended
28 February 2023
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Norwich Property Developments Limited
, as a body. My work has been undertaken solely to prepare for your approval the
financial statements
of
Norwich Property Developments Limited
and state those matters that I have agreed to state to the Board of Directors of
Norwich Property Developments Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Norwich Property Developments Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Norwich Property Developments Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
Norwich Property Developments Limited
. You consider that
Norwich Property Developments Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Norwich Property Developments Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Saturn Accountancy Services Limited
Chartered Accountants
Old Farm, Marsh Lane
Burgh Castle
Great Yarmouth
Norfolk
NR31 9QH
United Kingdom
Date:
27 November 2023
Norwich Property Developments Limited
Statement of Financial Position
28 February 2023
20232022
Note££
Current assets    
Stocks
7,496
 
4,856
 
Debtors 5
22,000
  -  
Cash at bank and in hand
306,991
 
343,265
 
336,487
 
348,121
 
Creditors: amounts falling due within one year 6
(260,546
)
(260,546
)
Net current assets
75,941
 
87,575
 
Total assets less current liabilities 75,941   87,575  
Creditors: amounts falling due after more than one year 7
(23,333
)
(33,333
)
Net assets
52,608
 
54,242
 
Capital and reserves    
Called up share capital
3
 
3
 
Profit and loss account
52,605
 
54,239
 
Shareholders funds
52,608
 
54,242
 
For the year 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 financial statements for the year 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 financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
27 November 2023
, and are signed on behalf of the board by:
Mr David Robert Thomas
Director
Company registration number:
11190986
Norwich Property Developments Limited
Notes to the Financial Statements
Year ended
28 February 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
The Grove Barns Sallow Lane
,
Framingham Pigot
,
Norwich
,
NR14 7QW
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2022:
3.00
).

5 Debtors

20232022
££
Other debtors
22,000
  -  

6 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
10,000
 
10,000
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
249,996
 
249,996
 
Other creditors
550
 
550
 
260,546
 
260,546
 
The bank loan relates to the Government backed Bounce Back Loan Scheme and is repayable in line with the scheme rules.

7 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
23,333
 
33,333
 
The bank loan relates to the Government backed Bounce Back Loan Scheme and is repayable in line with the scheme rules.