Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
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Investments | 4 |
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688,851 | 631,351 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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199,525 | 264,171 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 90,252 | 171,033 | ||
Total assets less current liabilities | 779,103 | 802,384 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Fair value reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Northcroft Investments Ltd (registered number:
Mr G G Horth
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Northcroft Investments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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The company is run and administered by the directors of the company for whom no formal contracts of service are in place.
Investment property | |
£ | |
Valuation | |
As at 02 August 2023 |
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As at 01 August 2024 |
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Valuation
The valuation model used to determine the fair value of investment properties of the balance sheet date is open market value. This has been calculated by the director, who is internal to the company.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
2024 | 2023 | ||
£ | £ | ||
Historic cost | 70,000 | 70,000 |
Listed investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 02 August 2023 |
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Additions |
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Disposals | (
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Movement in fair value |
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At 01 August 2024 |
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Carrying value at 01 August 2024 |
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Carrying value at 01 August 2023 |
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2024 | 2023 | ||
£ | £ | ||
Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Other creditors |
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Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
During the year the director maintained an interest free loan with the company which is repayable on demand. At the balance sheet date the amount owing to the director was | 106,797 | 90,797 |