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REGISTERED NUMBER: 06964117 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 July 2023

for

James Norvill Properties Limited

James Norvill Properties Limited (Registered number: 06964117)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


James Norvill Properties Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr J Norvill





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 06964117 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

James Norvill Properties Limited (Registered number: 06964117)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 10,898,994 1,526,345

CURRENT ASSETS
Debtors 5 33,343 -
Cash at bank - 27,039
33,343 27,039
CREDITORS
Amounts falling due within one year 6 1,096,361 837,303
NET CURRENT LIABILITIES (1,063,018 ) (810,264 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,835,976 716,081

CREDITORS
Amounts falling due after more than one year 7 (3,397,549 ) (146,354 )

PROVISIONS FOR LIABILITIES (523,332 ) (51,168 )
NET ASSETS 5,915,095 518,559

CAPITAL AND RESERVES
Called up share capital 9 1,921,648 100
Share premium 10 1,921,548 -
Revaluation reserve 10 1,569,996 153,505
Retained earnings 10 501,903 364,954
SHAREHOLDERS' FUNDS 5,915,095 518,559

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

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

James Norvill Properties Limited (Registered number: 06964117)

Balance Sheet - continued
31 July 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 director and authorised for issue on 30 July 2024 and were signed by:





Mr J Norvill - Director


James Norvill Properties Limited (Registered number: 06964117)

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

1. STATUTORY INFORMATION

James Norvill Properties 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover consists of letting fees and rents receivable. Rental revenue is recognised evenly over the rental period.

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

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.

3. EMPLOYEES AND DIRECTORS

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

James Norvill Properties Limited (Registered number: 06964117)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 1,526,345
Additions 7,593,994
Disposals (110,000 )
Revaluations 1,888,655
At 31 July 2023 10,898,994
NET BOOK VALUE
At 31 July 2023 10,898,994
At 31 July 2022 1,526,345

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2021 204,673
Valuation in 2023 1,888,655
Cost 8,805,666
10,898,994

If the investment properties had not been revalued they would have been included at the following historical cost:

31.7.23 31.7.22
£    £   
Cost 8,805,666 1,321,581

The investment properties were valued on an open market basis on 31 July 2023 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 6,362 -
Tax 3,740 -
VAT 23,241 -
33,343 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 26,433 24,228
Trade creditors 700 4,200
Tax 36,660 23,909
VAT - 2,682
Other creditors 10,702 425
Directors' current accounts 1,019,886 780,539
Accrued expenses 1,980 1,320
1,096,361 837,303

James Norvill Properties Limited (Registered number: 06964117)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans - 1-2 years 23,464 24,228
Bank loans - 2-5 years 70,393 72,684
Bank loans more 5 yr by instal 3,303,692 49,442
3,397,549 146,354

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,303,692 49,442

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 3,421,013 170,582

The bank loans are secured on properties owned by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 1,921,648 100

10. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 August 2022 364,954 - 153,505 518,459
Profit for the year 1,553,440 1,553,440
Cash share issue - 1,921,548 - 1,921,548
Assets revalued in period (1,416,491 ) - 1,416,491 -
At 31 July 2023 501,903 1,921,548 1,569,996 3,993,447