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REGISTERED NUMBER: 12849345 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE NORTON PROPERTY GROUP LIMITED

THE NORTON PROPERTY GROUP LIMITED (REGISTERED NUMBER: 12849345)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE NORTON PROPERTY GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: J A Seago FCCA





REGISTERED OFFICE: 61 Station Road
Sudbury
Suffolk
CO10 2SP





REGISTERED NUMBER: 12849345 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

THE NORTON PROPERTY GROUP LIMITED (REGISTERED NUMBER: 12849345)

BALANCE SHEET
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
703 Tangible assets 4 527
274,741 Investment property 5 320,000
275,444 320,527

CURRENT ASSETS
437 Debtors 6 560
5,759 Cash at bank and in hand 11,373
6,196 11,933
CREDITORS
5,047 Amounts falling due within one year 7 5,116
1,149 NET CURRENT ASSETS 6,817
276,593 TOTAL ASSETS LESS CURRENT
LIABILITIES

327,344

CREDITORS
(281,953 ) Amounts falling due after more than one
year

8

(282,049

)

(133 ) PROVISIONS FOR LIABILITIES (8,699 )
(5,493 ) NET ASSETS/(LIABILITIES) 36,596

THE NORTON PROPERTY GROUP LIMITED (REGISTERED NUMBER: 12849345)

BALANCE SHEET - continued
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
CAPITAL AND RESERVES
40 Called up share capital 40
- Fair value reserve 36,660
(5,533 ) Retained earnings (104 )
(5,493 ) SHAREHOLDERS' FUNDS 36,596

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 8 February 2024 and were signed by:





J A Seago FCCA - Director


THE NORTON PROPERTY GROUP LIMITED (REGISTERED NUMBER: 12849345)

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

1. STATUTORY INFORMATION

The Norton Property Group 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 as modified by the revaluation of certain assets.

Turnover
Turnover is comprised of the rental income recieved during the period from the various investment properties held.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - 25% on reducing balance.

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

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.

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

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

THE NORTON PROPERTY GROUP LIMITED (REGISTERED NUMBER: 12849345)

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

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 January 2023
and 31 December 2023 1,249
DEPRECIATION
At 1 January 2023 546
Charge for year 176
At 31 December 2023 722
NET BOOK VALUE
At 31 December 2023 527
At 31 December 2022 703

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 274,741
Revaluations 45,259
At 31 December 2023 320,000
NET BOOK VALUE
At 31 December 2023 320,000
At 31 December 2022 274,741

Investment property was valued, on an open market basis, on 31st December 2023 at an amount of £320,000 by the director.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 45,259
Cost 274,741
320,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 560 437

THE NORTON PROPERTY GROUP LIMITED (REGISTERED NUMBER: 12849345)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 5,116 5,047

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 181,883 187,064
Other creditors 100,166 94,889
282,049 281,953