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Registered number: 05883457









NORSWORTHY LIMITED







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
NORSWORTHY LIMITED
 
 
COMPANY INFORMATION


Directors
Miss H Patel 
Mr J C Patel Jnr 
Mr K C Patel Jnr 




Registered number
05883457



Registered office
2 Peterwood Way
Croydon

Surrey

CR0 4UQ





 
NORSWORTHY LIMITED
 

CONTENTS



Page
Directors' Report
1
Profit and Loss Account
2
Balance Sheet
3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 7


 
NORSWORTHY LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The Directors present their report and the financial statements for the year ended 31 March 2024.

Principal activity

The principal activity of the Company continued to be that of a dormant company.

On 1 July 2022, the Directors took the decision to hive-up the trade and assets of the company to Day Lewis Plc, and then cease trading. As the Directors do not intend to acquire a replacement trade, they have not prepared the financial statements on a going concern basis. The effect of this is explained in note 2.

Results and dividends

The profit for the year, after taxation, amounted to £NIL (2023 - £2,382,847).

The Directors recommend a final dividend of £2,553,440 (2023 - £NIL) to be paid for the year.

Directors

The Directors who served during the year were:

Miss H Patel 
Mr J C Patel Jnr 
Mr K C Patel Jnr 

Small companies note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





Mr J C Patel Jnr
Director

Date: 1 October 2024

2 Peterwood Way
Croydon
Surrey
CR0 4UQ

Page 1

 
NORSWORTHY LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024

31 March
9 month period ended
31 March
2024
2023
Note
£
£

Profit on hive up at fair value
  
-
2,382,847

Operating profit
  
-
2,382,847

Profit for the financial year
  
-
2,382,847

There were no recognised gains and losses for 2023 or 2022 other than those included in the Profit and Loss Account.

The notes on pages 5 to 7 form part of these financial statements.

Page 2

 
NORSWORTHY LIMITED
REGISTERED NUMBER: 05883457

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 6 
2
2,553,442

  
2
2,553,442

Total assets less current liabilities
  
 
 
2
 
 
2,553,442

  

Net assets
  
2
2,553,442


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
-
2,553,440

  
2
2,553,442


For the year ended 31 March 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr J C Patel Jnr
Director

Date: 1 October 2024

The notes on pages 5 to 7 form part of these financial statements.

Page 3

 
NORSWORTHY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2023
2
2,553,440
2,553,442
Total comprehensive income for the year
-
-
-


Contributions by and distributions to owners

Dividends: Equity capital
-
(2,553,440)
(2,553,440)


At 31 March 2024
2
-
2



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2022
2
170,593
170,595



Profit for the period
-
2,382,847
2,382,847
Total comprehensive income for the period
-
2,382,847
2,382,847


At 31 March 2023
2
2,553,440
2,553,442


The notes on pages 5 to 7 form part of these financial statements.

Page 4

 
NORSWORTHY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Norsworthy Limited (the "Company") is a private company limited by shares and incorporated, domiciled and registered in England in the United Kingdom. The address of the registered office is given on the company information page. The nature of the company's operations and its principal activities are set out in the directors' report on page 1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The functional currency of the Company is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates. The financial statements are also presented in pounds sterling and rounded to the nearest £.
The following principal accounting policies have been applied:

  
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102:
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); and
the requirements of Section 33 Related Party Disclosures paragraph 33.7;

This information is included in the consolidated financial statements of Day Lewis Plc as at 31 March 2024 and these financial statements may be obtained from 2 Peterwood Way, Croydon, Surrey, CR0 4UQ.

  
2.3

Reporting period

The comparative financial statements were prepared for a 9 month period from 1 July 2022 to 31 March 2023. The Directors believe 31 March to be a more appropriate year end date to align with the year end dates of other entities within the Group. As a result, the comparative figures (including the related notes), are not entirely comparable. The change of accounting reference date, as approved by the board of directors, was filed with the Registrar of Companies.

 
2.4

Going concern

As the Directors do not intend to acquire a replacement trade, the Directors have not prepared the
financial statements on a going concern basis.

 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 5

 
NORSWORTHY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, the Directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no critical judgements and estimations that the Directors have made in the process of applying the Company's accounting policies that have had a significant effect on the amounts recognised in the financial statements.


4.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration (2023 - £NIL).


5.


Exceptional items

31 March
9 month period ended
31 March
2024
2023
£
£


Profit on disposal of trade and assets
-
2,382,847

-
2,382,847

Page 6

 
NORSWORTHY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
2
2,553,442

2
2,553,442



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



8.


Controlling party

The Company's immediate parent company is Day Lewis Plc, a company registered in England and Wales. It prepares group financial statements which are available at Day Lewis House, 2 Peterwood Way, Croydon, Surrey CR0 4UQ.
The smallest and largest group in which the results of the Company and its group are consolidated in publicly available group financial statements is that headed by Day Lewis Plc, Day Lewis House, 2 Peterwood Way, Croydon, Surrey, CR0 4UQ.
The ultimate parent company is Day Lewis Holdings Limited, a company registered in Cyprus and controlled by the KCTP Will Trust.
Copies of the ultimate parent's financial statements are not publicly available.

Page 7