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REGISTERED NUMBER: 01298833 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Norton Grove Stud Limited

Norton Grove Stud Limited (Registered number: 01298833)






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


Norton Grove Stud Limited

Company Information
for the Year Ended 31 March 2023







Directors: R T Lingwood
Mrs M Lingwood





Registered office: 2 Belgrave Crescent
Scarborough
North Yorkshire
YO11 1UB





Business address: Stable Cottage
Norton Grove Stud
Norton
Malton
North Yorkshire
YO17 8EF





Registered number: 01298833 (England and Wales)





Accountants: Ashby Berry Coulsons
2 Belgrave Crescent
Scarborough
North Yorkshire
YO11 1UB

Norton Grove Stud Limited (Registered number: 01298833)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 5,699 6,705
Investments 5 100 100
5,799 6,805

Current assets
Stocks 39,598 55,826
Debtors 6 186,922 154,987
226,520 210,813
Creditors
Amounts falling due within one year 7 224,438 178,852
Net current assets 2,082 31,961
Total assets less current liabilities 7,881 38,766

Provisions for liabilities 1,083 2,157
Net assets 6,798 36,609

Capital and reserves
Called up share capital 8 17,740 17,740
Retained earnings (10,942 ) 18,869
Shareholders' funds 6,798 36,609

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 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.

Norton Grove Stud Limited (Registered number: 01298833)

Balance Sheet - continued
31 March 2023


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 20 July 2023 and were signed on its behalf by:





R T Lingwood - Director


Norton Grove Stud Limited (Registered number: 01298833)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. Statutory information

Norton Grove Stud 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 - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Norton Grove Stud Limited (Registered number: 01298833)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. Employees and directors

The average number of employees during the year was 17 (2022 - 17 ) .

4. Tangible fixed assets
Plant and
machinery
£   
Cost
At 1 April 2022
and 31 March 2023 57,119
Depreciation
At 1 April 2022 50,414
Charge for year 1,006
At 31 March 2023 51,420
Net book value
At 31 March 2023 5,699
At 31 March 2022 6,705

5. Fixed asset investments
Other
investments
£   
Cost
At 1 April 2022
and 31 March 2023 100
Net book value
At 31 March 2023 100
At 31 March 2022 100

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 181,488 150,904
Other debtors 5,434 4,083
186,922 154,987

Norton Grove Stud Limited (Registered number: 01298833)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 13,562 19,495
Trade creditors 26,353 5,314
Taxation and social security 24,945 39,048
Other creditors 159,578 114,995
224,438 178,852

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
17,740 Ordinary £1 17,740 17,740