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REGISTERED NUMBER: 03068896 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Norfolk Plaza Management Limited

Norfolk Plaza Management Limited (Registered number: 03068896)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Norfolk Plaza Management Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: A O Muttawa
O O Muttawa





REGISTERED OFFICE: 67 Westow Street
London
SE19 3RW





REGISTERED NUMBER: 03068896 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Norfolk Plaza Management Limited (Registered number: 03068896)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 490,311 702,085

CURRENT ASSETS
Debtors 6 16,170 38,707
Cash at bank and in hand 508 5,254
16,678 43,961
CREDITORS
Amounts falling due within one year 7 2,610,306 2,348,195
NET CURRENT LIABILITIES (2,593,628 ) (2,304,234 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,103,317

)

(1,602,149

)

PROVISIONS FOR LIABILITIES 8 5,096 5,967
NET LIABILITIES (2,108,413 ) (1,608,116 )

CAPITAL AND RESERVES
Called up share capital 9 741,900 741,900
Share premium 188,100 188,100
Retained earnings (3,038,413 ) (2,538,116 )
SHAREHOLDERS' FUNDS (2,108,413 ) (1,608,116 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Norfolk Plaza Management Limited (Registered number: 03068896)

Balance Sheet - continued
31 December 2022


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 28 March 2024 and were signed on its behalf by:





O O Muttawa - Director


Norfolk Plaza Management Limited (Registered number: 03068896)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Norfolk Plaza Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - over the period of the lease
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% p.a. on a straight line basis

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.

Going concern
At 31 December 2022 the company had net current liabilities of £2,563,628 and net liabilities of £2,078,413. Included in creditors is a balance of £455,514 from a fellow group undertaking. The shareholder has indicated that they will continue to provide financial support to the company for at least the next twelve months to enable the company to pay its debts as and when they fall due. The directors, therefore, consider that it is appropriate to prepare the financial statements on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 6 ) .

Norfolk Plaza Management Limited (Registered number: 03068896)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. TANGIBLE FIXED ASSETS
Fixtures
Property and Motor Computer
improvements fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2022 2,280,093 421,350 2,200 56,215 2,759,858
Additions 23,170 - - - 23,170
At 31 December 2022 2,303,263 421,350 2,200 56,215 2,783,028
DEPRECIATION
At 1 January 2022 1,615,410 384,471 1,678 56,214 2,057,773
Charge for year 229,282 5,532 130 - 234,944
At 31 December 2022 1,844,692 390,003 1,808 56,214 2,292,717
NET BOOK VALUE
At 31 December 2022 458,571 31,347 392 1 490,311
At 31 December 2021 664,683 36,879 522 1 702,085

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors 16,170 38,707

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 9,618 277,851
Amounts owed to group undertakings 455,514 464,613
Amounts owed to connected companies 2,129,195 1,550,450
Taxation and social security 2,101 11,446
Other creditors 13,878 43,835
2,610,306 2,348,195

8. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
£    £   
Deferred tax 5,096 5,967

Deferred
tax
£   
Balance at 1 January 2022 5,967
Credit to Income Statement during year (871 )
Balance at 31 December 2022 5,096

Norfolk Plaza Management Limited (Registered number: 03068896)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
741,900 Ordinary shares £1 741,900 741,900