Company registration number 13891904 (England and Wales)
NORTHUMBRIA PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NORTHUMBRIA PROPERTIES LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
653
784
Investment property
4
411,979
411,979
412,632
412,763
Current assets
Debtors
5
7,177
6,621
Cash at bank and in hand
5,833
8,066
13,010
14,687
Creditors: amounts falling due within one year
6
(438,943)
(439,063)
Net current liabilities
(425,933)
(424,376)
Net liabilities
(13,301)
(11,613)
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
(13,304)
(11,616)
Total equity
(13,301)
(11,613)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial Period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 22 July 2024 and are signed on its behalf by:
Mrs K Wire
Director
Company registration number 13891904 (England and Wales)
NORTHUMBRIA PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Northumbria Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Beaumont House, 2 Northumberland Avenue, Bishop Auckland, Co Durham, DL14 6AW.

1.1
Reporting period

The company has shortened the year end from 29 February 2024 to 31 December 2023 to align the year end to the calendar year and with other companies that the owners have.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value.

 

The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents rentals from investment properties.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

NORTHUMBRIA PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2023
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 and 31 December 2023
829
Depreciation and impairment
At 1 March 2023
45
Depreciation charged in the Period
131
At 31 December 2023
176
Carrying amount
At 31 December 2023
653
At 28 February 2023
784
4
Investment property
2023
£
Fair value
At 1 March 2023 and 31 December 2023
411,979
NORTHUMBRIA PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
4
Investment property
(Continued)
- 4 -

Investment property comprises of two properties that were acquired in 2022. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2023
2023
Amounts falling due within one year:
£
£
Other debtors
7,177
6,621
6
Creditors: amounts falling due within one year
2023
2023
£
£
Other creditors
438,943
439,063
7
Related party transactions
Transactions with related parties

During the Period the company entered into the following transactions with related parties:

During the period the company has paid for costs relating to Northumbria Day Nurseries Ltd a company which shares the same directors and shareholders. The loan is interest free and repayable on demand and the amount outstanding at the period end was £7,177 (Feb 2023 £6,621).

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