1 January 2023 v2024.36.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP111243782023-01-012023-12-31111243782023-12-31111243782022-12-3111124378core:WithinOneYear2023-12-3111124378core:WithinOneYear2022-12-3111124378core:AfterOneYear2022-12-3111124378core:ShareCapital2023-12-3111124378core:ShareCapital2022-12-3111124378core:RetainedEarningsAccumulatedLosses2023-12-3111124378core:RetainedEarningsAccumulatedLosses2022-12-3111124378bus:Director12023-01-012023-12-3111124378bus:RegisteredOffice2023-01-012023-12-31111243782022-01-012022-12-311112437812023-01-012023-12-3111124378countries:EnglandWales2023-01-012023-12-3111124378bus:AuditExemptWithAccountantsReport2023-01-012023-12-3111124378bus:PrivateLimitedCompanyLtd2023-01-012023-12-3111124378bus:SmallEntities2023-01-012023-12-3111124378bus:FullAccounts2023-01-012023-12-31
Company registration number:
11124378
Norfolk Lane Cold Stores Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Norfolk Lane Cold Stores Ltd
Statement of Financial Position
31 December 2023
20232022
Note££
Current assets    
Debtors 5
462,278
 
365,848
 
Cash at bank and in hand
221,942
 
192,284
 
684,220
 
558,132
 
Creditors: amounts falling due within one year 6
(184,046
)
(173,602
)
Net current assets
500,174
 
384,530
 
Total assets less current liabilities 500,174   384,530  
Creditors: amounts falling due after more than one year 7 -  
(26,667
)
Net assets
500,174
 
357,863
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
500,074
 
357,763
 
Shareholders funds
500,174
 
357,863
 
For the year ending
31 December 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
31 July 2024
, and are signed on behalf of the board by:
M Smith
Director
Company registration number:
11124378
Norfolk Lane Cold Stores Ltd
Notes to the Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Norfolk Lane
,
Cleethorpes
,
N E Lincs
,
DN35 8BB
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
10
(2022:
10.00
).

5 Debtors

20232022
££
Trade debtors
140,372
 
169,530
 
Other debtors
321,906
 
196,318
 
462,278
 
365,848
 

6 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts -  
10,000
 
Trade creditors
11,852
 
22,445
 
Taxation and social security
162,122
 
102,448
 
Other creditors
10,072
 
38,709
 
184,046
 
173,602
 

7 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts -  
26,667
 

8 Guarantees and other financial commitments

PENSION COMMITMENTS
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounts to £3,402 (2022 : £3,175). Contributions amounting to £553 (2022 : £933) were outstanding at the end of the period.

9 Director's advances, credit and guarantees

Included in debtors is a balance due from the director(s) of £55,334 (2022 - £nil), advances during the period amount to £84,334, repayments during the period amount to £29,000. The loan is interest free and is repayable on demand.