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REGISTERED NUMBER: 02783505 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

NORWOOD CONSULTANTS LIMITED

NORWOOD CONSULTANTS LIMITED (REGISTERED NUMBER: 02783505)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORWOOD CONSULTANTS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R J Wood
Mrs W J Wood
J Hurn





REGISTERED OFFICE: 153 -155 London Road
Hemel Hempstead
Hertfordshire
HP3 9SQ





REGISTERED NUMBER: 02783505 (England and Wales)

NORWOOD CONSULTANTS LIMITED (REGISTERED NUMBER: 02783505)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,638 4,693

CURRENT ASSETS
Stocks 7,895 32,635
Debtors 5 307,581 322,672
Cash at bank 929,317 756,353
1,244,793 1,111,660
CREDITORS
Amounts falling due within one year 6 259,900 205,099
NET CURRENT ASSETS 984,893 906,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

988,531

911,254

PROVISIONS FOR LIABILITIES - 757
NET ASSETS 988,531 910,497

CAPITAL AND RESERVES
Called up share capital 8 52 52
Capital redemption reserve 9 50 50
Retained earnings 9 988,429 910,395
SHAREHOLDERS' FUNDS 988,531 910,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

NORWOOD CONSULTANTS LIMITED (REGISTERED NUMBER: 02783505)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





R J Wood - Director


NORWOOD CONSULTANTS LIMITED (REGISTERED NUMBER: 02783505)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Norwood Consultants 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.

Going concern
The directors have reviewed cash flow projections and based on this have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Therefore, the accounts have been prepared on a going concern basis.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Operating leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 10 ) .

NORWOOD CONSULTANTS LIMITED (REGISTERED NUMBER: 02783505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 24,731 13,863 4,000 38,802 81,396
Additions - - - 708 708
At 31 March 2024 24,731 13,863 4,000 39,510 82,104
DEPRECIATION
At 1 April 2023 24,731 13,440 4,000 34,532 76,703
Charge for year - 187 - 1,576 1,763
At 31 March 2024 24,731 13,627 4,000 36,108 78,466
NET BOOK VALUE
At 31 March 2024 - 236 - 3,402 3,638
At 31 March 2023 - 423 - 4,270 4,693

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 281,351 299,034
Other debtors 26,230 23,638
307,581 322,672

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 51,946 28,111
Taxation and social security 158,223 144,473
Other creditors 49,731 32,515
259,900 205,099

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 17,559 20,035
Between one and five years 11,938 29,497
29,497 49,532

NORWOOD CONSULTANTS LIMITED (REGISTERED NUMBER: 02783505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary £1 50 50
2 A Ordinary £1 2 2
52 52

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 910,395 50 910,445
Profit for the year 188,034 188,034
Dividends (110,000 ) (110,000 )
At 31 March 2024 988,429 50 988,479

10. RELATED PARTY DISCLOSURES

During the year, rent amounting to £15,000 (2023: £15,000) was paid to landlords one of whom was R Wood, director of Norwood Consultants Limited.