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REGISTERED NUMBER: 08266238 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Norton Wagstaffe (West Sussex) Limited

Norton Wagstaffe (West Sussex) Limited (Registered number: 08266238)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Norton Wagstaffe (West Sussex) Limited (Registered number: 08266238)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible fixed assets 5 538,585 474,646
538,585 474,646

Current assets
Debtors 6 32,152 47,747
Cash at bank and in hand 2,236 53,261
34,388 101,008
Creditors: amounts falling due within
one year

7

48,424

85,323
Net current (liabilities)/assets (14,036 ) 15,685
Total assets less current liabilities 524,549 490,331

Creditors: amounts falling due after
more than one year

8

(148,585

)

(153,955

)

Provisions for liabilities (17,535 ) -
Net assets 358,429 336,376

Norton Wagstaffe (West Sussex) Limited (Registered number: 08266238)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £    £    £   
Capital and reserves
Called up share capital 9 2,000 2,000
Share premium 37,000 37,000
Retained earnings 319,429 297,376
Shareholders' funds 358,429 336,376

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 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:





G K Wagstaffe - Director


Norton Wagstaffe (West Sussex) Limited (Registered number: 08266238)

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

1. Statutory information

Norton Wagstaffe (West Sussex) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08266238

Registered office: 117 Brighton Road
Lancing
West Sussex
BN15 8HT

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of VAT and discounts. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been fully amortised.

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

Freehold property - 2% on cost (land not depreciated)
Computer equipment - 25% on cost
Motor vehicles- 20% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.


Norton Wagstaffe (West Sussex) Limited (Registered number: 08266238)

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

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 5 (2022 - 5 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 40,000
Amortisation
At 1 January 2023
and 31 December 2023 40,000
Net book value
At 31 December 2023 -
At 31 December 2022 -

Norton Wagstaffe (West Sussex) Limited (Registered number: 08266238)

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

5. Tangible fixed assets
Freehold Motor Computer
property vehicles equipment Totals
£    £    £    £   
Cost
At 1 January 2023 519,440 - 22,985 542,425
Additions - 64,600 6,042 70,642
At 31 December 2023 519,440 64,600 29,027 613,067
Depreciation
At 1 January 2023 46,749 - 21,030 67,779
Charge for year 5,195 538 970 6,703
At 31 December 2023 51,944 538 22,000 74,482
Net book value
At 31 December 2023 467,496 64,062 7,027 538,585
At 31 December 2022 472,691 - 1,955 474,646

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 19,681 36,791
Other debtors 12,471 10,956
32,152 47,747

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 7,426 7,292
Trade creditors 413 474
Taxation and social security 30,754 72,422
Other creditors 9,831 5,135
48,424 85,323

Creditors falling due in less than one year includes liabilities of £7,426 (2022 £7,292) which are secured by a debenture, first legal charge on the freehold property and a guarantee from the directors.

Norton Wagstaffe (West Sussex) Limited (Registered number: 08266238)

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

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 148,585 153,955

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
instalments

116,927

122,869

Creditors falling due after more than one year includes liabilities of £148,585 (2022 £153,955) which are secured by a debenture, first legal charge on the freehold property and a guarantee from the directors.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary A Shares £1 1,000 1,000
1,000 Ordinary B Shares £1 1,000 1,000
2,000 2,000