IRIS Accounts Production v24.1.9.2 00229985 Board of Directors Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh002299852022-12-31002299852023-12-31002299852023-01-012023-12-31002299852021-12-31002299852022-01-012022-12-31002299852022-12-3100229985ns15:EnglandWales2023-01-012023-12-3100229985ns14:PoundSterling2023-01-012023-12-3100229985ns10:Director12023-01-012023-12-3100229985ns10:Director22023-01-012023-12-3100229985ns10:Director32023-01-012023-12-3100229985ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3100229985ns10:SmallEntities2023-01-012023-12-3100229985ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3100229985ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3100229985ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100229985ns10:AbridgedAccounts2023-01-012023-12-3100229985ns10:Director42023-01-012023-12-3100229985ns10:Director52023-01-012023-12-3100229985ns10:RegisteredOffice2023-01-012023-12-3100229985ns5:CurrentFinancialInstruments2023-12-3100229985ns5:CurrentFinancialInstruments2022-12-3100229985ns5:ShareCapital2023-12-3100229985ns5:ShareCapital2022-12-3100229985ns5:RevaluationReserve2023-12-3100229985ns5:RevaluationReserve2022-12-3100229985ns5:CapitalRedemptionReserve2023-12-3100229985ns5:CapitalRedemptionReserve2022-12-3100229985ns5:RetainedEarningsAccumulatedLosses2023-12-3100229985ns5:RetainedEarningsAccumulatedLosses2022-12-3100229985ns5:RevaluationReserve2022-12-31
REGISTERED NUMBER: 00229985 (England and Wales)















North Western Estates Development
Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






North Western Estates Development
Limited (Registered number: 00229985)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


North Western Estates Development
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M T H Lucas
Mr C G B Lucas
Mrs S J Lucas
Mr A J Lucas
Mrs K R Gray





REGISTERED OFFICE: 71/73 Hoghton Street
Southport
Merseyside
PR90PR





REGISTERED NUMBER: 00229985 (England and Wales)





ACCOUNTANTS: Advance Chartered Certified Accountants
71-73 Hoghton Street
Southport
Merseyside
PR9 0PR

North Western Estates Development
Limited (Registered number: 00229985)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,368,243 2,395,743

CURRENT ASSETS
Debtors 610 3,122
Investments 2,483 2,483
Cash at bank 194,296 173,643
197,389 179,248
CREDITORS
Amounts falling due within one year 56,719 41,520
NET CURRENT ASSETS 140,670 137,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,508,913

2,533,471

CAPITAL AND RESERVES
Called up share capital 2,334 2,334
Revaluation reserve 5 2,038,311 2,064,906
Capital redemption reserve 866 866
Retained earnings 467,402 465,365
SHAREHOLDERS' FUNDS 2,508,913 2,533,471

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.

North Western Estates Development
Limited (Registered number: 00229985)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 June 2024 and were signed on its behalf by:




Mr M T H Lucas - Director Mr C G B Lucas - Director




Mr A J Lucas - Director


North Western Estates Development
Limited (Registered number: 00229985)

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

1. STATUTORY INFORMATION

North Western Estates Development 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), as adapted by Section 1A of FRS 102, and the requirements of the Companies Act 2006.

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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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

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:

Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on straight line

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.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

North Western Estates Development
Limited (Registered number: 00229985)

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

2. ACCOUNTING POLICIES - continued

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 balance sheet 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


North Western Estates Development
Limited (Registered number: 00229985)

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

2. ACCOUNTING POLICIES - continued
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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 2,399,262
Disposals (27,500 )
At 31 December 2023 2,371,762
DEPRECIATION
At 1 January 2023
and 31 December 2023 3,519
NET BOOK VALUE
At 31 December 2023 2,368,243
At 31 December 2022 2,395,743

Investment Properties are not depreciated and have been included at open market value which has been determined by the directors. If the properties had not been revalued, they would have been included at historical cost of £329,932 (2022: £330,837).

5. RESERVES
Revaluation
reserve
£   
At 1 January 2023 2,064,906
Transfer on realisation (26,595 )

At 31 December 2023 2,038,311