Company registration number 14264940 (England and Wales)
B&W Norcliffe Properties Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 July 2024
PAGES FOR FILING WITH REGISTRAR
B&W Norcliffe Properties Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
B&W Norcliffe Properties Ltd
Statement of financial position
as at 31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
252,645
252,645
Current assets
Cash at bank and in hand
2,469
1,620
Creditors: amounts falling due within one year
4
(249,125)
(254,035)
Net current liabilities
(246,656)
(252,415)
Net assets
5,989
230
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
5,988
229
Total equity
5,989
230
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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 his responsibilities for complying with the requirements of the Companies Act 2006 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.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 19 August 2024
W Norcliffe
Director
Company registration number 14264940 (England and Wales)
B&W Norcliffe Properties Ltd
Notes to the financial statements
for the year ended 31 July 2024
- 2 -
1
Accounting policies
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. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of rental income received or receivable. Rental income is recognised on a receipts basis.
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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 August 2023 and 31 July 2024
252,645
Investment properties comprises residential property at its cost price. The director believes the cost reflects their value.
B&W Norcliffe Properties Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2024
- 3 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
1,585
523
Other creditors
246,820
252,792
Accruals and deferred income
720
720
249,125
254,035
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
6
Company information
B&W Norcliffe Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6 Powell Street, Halifax, West Yorkshire, HX1 1LN.