Registered number
01617849
Normford Limited
Filleted Accounts
31 March 2024
Normford Limited
Registered number: 01617849
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 - 16,468
Cash at bank and in hand 14,604 11,215
14,604 27,683
Creditors: amounts falling due within one year 4 (1,167) (938)
Net current assets 13,437 26,745
Net assets 13,437 26,745
Capital and reserves
Called up share capital 8 8
Maintenance reserve 5 13,429 26,737
Shareholders' funds 13,437 26,745
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Watson
Director
Approved by the board on 10 September 2024
Normford Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the service charges that are levied by the company to the leaseholders so as to equate the expenditure incurred in each accounting period. It represents service charges rendered for the year.

Provision is made for the estimated cost of major works to the property so as to equalise the charge over a period of five years.

The acquisition cost of the freehold was financed by contributions from the leaseholders. Accordingly the cost of the freehold is not included in the balance sheet of the company.

The acquisition cost of the freehold was financed by contributions from the leaseholders. Accordingly the cost of the freehold is not included in the balance sheet of the company.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2024 2023
£ £
Other debtors - 16,468
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 297 308
Other creditors 870 630
1,167 938
5 Maintenance reserve 2024 2023
£ £
At 1 April 2023 26,737 23,883
Maintenance reserve Transfer (to)/ from profit and loss account (13,308) 2,854
At 31 March 2024 13,429 26,737
6 Controlling party
The company considers N Watson to be its controlling party.
7 Other information
Normford Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cleveland House
29 Beech Road
Reigate
Surrey
RH2 9ND
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