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Registered Number: 12308864
England and Wales

 

 

 

NORTON BROADWAY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Directors Mrs Theodora Menicou
Mrs Stavroulla Menicou
Registered Number 12308864
Registered Office First Floor, Hagley Court
40 Vicarage Road, Edgbaston
Birmingham
United Kingdom
B15 3EZ
Accountants Marneros Marcus & Co Limited
First Floor Hagley Court
40 Vicarage Road Edgbaston
Birmingham
B153EZ
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 153,294    153,294 
Tangible fixed assets 4 702,791    5,040 
856,085    158,334 
Current assets      
Debtors 5 30,600    135,600 
Cash at bank and in hand 2,604    185,734 
33,204    321,334 
Creditors: amount falling due within one year 6 (79,077)   (29,444)
Net current assets (45,873)   291,890 
 
Total assets less current liabilities 810,212    450,224 
Creditors: amount falling due after more than one year 7 (745,991)   (395,081)
Net assets 64,221    55,143 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 64,121    55,043 
Shareholders' funds 64,221    55,143 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 23 August 2024 and were signed on its behalf by:


-------------------------------
Mrs Theodora Menicou
Director
2
General Information
NORTON BROADWAY LTD is a private company, limited by shares, registered in England and Wales, registration number 12308864, registration address First Floor, Hagley Court, 40 Vicarage Road, Edgbaston, Birmingham, United Kingdom, B15 3EZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Goodwill is not amortised
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 10% Straight Line
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 153,294    153,294 
Additions  
Disposals  
At 30 November 2023 153,294    153,294 
Net book values
At 30 November 2023 153,294    153,294 
At 30 November 2022 153,294    153,294 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 December 2022   4,500    1,600    6,100 
Additions 698,631        698,631 
Disposals      
At 30 November 2023 698,631    4,500    1,600    704,731 
Depreciation
At 01 December 2022   900    160    1,060 
Charge for year   720    160    880 
On disposals      
At 30 November 2023   1,620    320    1,940 
Net book values
Closing balance as at 30 November 2023 698,631    2,880    1,280    702,791 
Opening balance as at 01 December 2022   3,600    1,440    5,040 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 30,600    135,600 
30,600    135,600 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 10,669    1,698 
Corporation Tax 6,590    3,662 
Directors' Current Accounts 61,818    24,084 
79,077    29,444 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 359,785    43,576 
Other Creditors 386,206    351,505 
745,991    395,081 

3