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COMPANY REGISTRATION NUMBER: 3078551
CHARITY REGISTRATION NUMBER: 1048833
Norland Place Limited
previously known as Norland Place School
Company Limited by Guarantee
Financial Statements
31 March 2024
Norland Place Limited
previously known as Norland Place School
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustee's annual report (incorporating the director's report)
1
Independent auditor's report to the members
4
Statement of financial activities (including income and expenditure account)
8
Statement of financial position
9
Notes to the financial statements
10
Norland Place Limited
previously known as Norland Place School
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustee, who is also the director for the purposes of company law, presents his report and the financial statements of the charity for the year ended 31 March 2024 .
Reference and administrative details
Registered charity name
Norland Place Limited
Charity registration number
1048833
Company registration number
3078551
Principal office and registered
162 - 166 Holland Park Avenue
office
London
W11 4UH
The trustee
Mr P.R. Mattar
Auditor
Malde & Co
Chartered Certified Accountants & statutory auditor
99 Kenton Road
Kenton Harrow
Middlesex
HA3 0AN
Structure, governance and management
Norland Place Limited is a charitable organisation formed in 1995 as a company limited by guarantee.
Legal Status
The company, Norland Place Limited , is incorporated under the Companies Act 1985 and its company registration number is 3078551. The company is limited by guarantee and each member guarantees a maximum of £1 each. The company is registered as a charitable trust under the Charities Act 1960, registration number 1048833. The company was previously known as Norland Place School and changed its name to Norland Place Limited on 29 September 2024.
Organisation
There are no connected charities or affiliated bodies.
Objectives and activities
The objective of the company is to promote and provide for the advancement of education of children.
Achievements and performance
There was no activity in the company during the year.
Financial review
Financial controls
The charity's articles require the Governors to safeguard the assets of the School. The detailed responsibilities of the Governors are set out below under "Responsibility of the Governors", in relation to these accounts.
Investment powers and restrictions
The company does not hold funds on behalf of others. Its Governors are empowered to invest the company's surplus cash with a view to secure maximum return.
The principal activity of the company during the year was to promote and provide for the advancement of education of children.
Plans for future periods
There is no anticipated change in the present activity of the charity for the foreseeable future.
Trustee's responsibilities statement
The trustee, who is also a director for the purposes of company law, is responsible for preparing the trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustee to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustee is required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and - they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustee's annual report was approved on 15 November 2024 and signed on behalf of the board of trustees by:
Mr P.R. Mattar
Trustee
Norland Place Limited
previously known as Norland Place School
Company Limited by Guarantee
Independent Auditor's Report to the Members of Norland Place Limited
Year ended 31 March 2024
Opinion
We have audited the financial statements of Norland Place Limited (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustee is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustee's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustee's report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustee's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustee's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustee was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of the trustee
As explained more fully in the trustee's responsibilities statement, the trustee (who is also the director for the purposes of company law) is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustee is responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustee either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the Company and industry we considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charities Act 2011, and income taxes. The Company is also subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, anti-bribery, employment law and certain aspects of relevant applicable legislation in the countries where the Company operates. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates, particularly in impairment reviews. Audit procedures performed by the audit team included: o Inspecting correspondence with regulators and tax authorities; o Discussions with management including consideration of known or suspected instances of non- compliance with laws and regulation and fraud; o Evaluating management's controls designed to prevent and detect irregularities; o Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by users outside their normal job role or with unusual descriptions, and significant transactions made outside the normal course of business; o Challenging assumptions and judgements made by management in their critical accounting estimates, including vessel impairment reviews; and o At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. Owing to the inherent limitations in our audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Chirag Sirish Malde FCCA
(Senior Statutory Auditor)
For and on behalf of
Malde & Co
Chartered Certified Accountants & statutory auditor
99 Kenton Road
Kenton Harrow
Middlesex
HA3 0AN
15 November 2024
Norland Place Limited
previously known as Norland Place School
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
330
330
330
----
----
----
Total income
330
330
330
----
----
----
Expenditure
Expenditure on charitable activities
6,7
330
330
330
Other expenditure
8
20
20
60
----
----
----
Total expenditure
350
350
390
----
----
----
----
----
----
Net expenditure and net movement in funds
( 20)
( 20)
( 60)
----
----
----
Reconciliation of funds
Total funds brought forward
1,019
1,019
1,079
-------
-------
-------
Total funds carried forward
999
999
1,019
-------
-------
-------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Norland Place Limited
previously known as Norland Place School
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Current assets
Cash at bank and in hand
1,329
1,349
Creditors: amounts falling due within one year
12
330
330
-------
-------
Net current assets
999
1,019
----
-------
Total assets less current liabilities
999
1,019
----
-------
Net assets
999
1,019
----
-------
Funds of the charity
Unrestricted funds
999
1,019
----
-------
Total charity funds
13
999
1,019
----
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 15 November 2024 , and are signed on behalf of the board by:
Mr P.R. Mattar
Trustee
Norland Place Limited
previously known as Norland Place School
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 162 - 166 Holland Park Avenue, London, W11 4UH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
4. Limited by guarantee
The company is limited by guarantee. Each Governor guarantees a maximum of £1.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations
330
330
330
330
----
----
----
----
6. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Support costs
330
330
330
330
----
----
----
----
7. Expenditure on charitable activities by activity type
Support costs
Total funds 2024
Total fund 2023
£
£
£
Governance costs
330
330
330
----
----
----
8. Other expenditure
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank charges
20
20
60
60
----
----
----
----
9. Net expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Fees payable for the audit of the financial statements
330
330
----
----
10. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
12. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
330
330
----
----
13. Analysis of charitable funds
Unrestricted funds
At 1 April 2023
Income
Expenditure
At 31 March 2024
£
£
£
£
General funds
1,019
330
(350)
999
-------
----
----
----
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
General funds
1,079
330
(390)
1,019
-------
----
----
-------
14. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Current assets
999
999
----
----
Unrestricted Funds
Total Funds 2023
£
£
Current assets
1,019
1,019
-------
-------