2023-03-012024-02-292024-02-29false12465453NORTHERN PROPERTIES (BRAINTREE) 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NORTHERN PROPERTIES (BRAINTREE) LTD

Registered Number
12465453
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

NORTHERN PROPERTIES (BRAINTREE) LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

WESTWOOD, Erica
WESTWOOD, Peter David

Registered Address

13 Acorn Avenue
Braintree
Essex
CM7 2LP

Registered Number

12465453 (England and Wales)
NORTHERN PROPERTIES (BRAINTREE) LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property4285,000285,000
285,000285,000
Current assets
Debtors511
Cash at bank and on hand6,7034,716
6,7044,717
Creditors amounts falling due within one year6(84,108)(83,465)
Net current assets (liabilities)(77,404)(78,748)
Total assets less current liabilities207,596206,252
Creditors amounts falling due after one year7(214,736)(214,736)
Provisions for liabilities8(349)(349)
Net assets(7,489)(8,833)
Capital and reserves
Called up share capital22
Profit and loss account(7,491)(8,835)
Shareholders' funds(7,489)(8,833)
The financial statements were approved and authorised for issue by the Board of Directors on 23 November 2024, and are signed on its behalf by:
WESTWOOD, Peter David
Director
Registered Company No. 12465453
NORTHERN PROPERTIES (BRAINTREE) LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets
4.Investment property

£
Fair value at 01 March 23285,000
At 29 February 24285,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors11
Total11
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts83,09083,090
Taxation and social security41815
Accrued liabilities and deferred income600360
Total84,10883,465
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts214,736214,736
Total214,736214,736
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)349349
Total349349
9.Related party transactions
At the balance sheet date, the company owed its director, Peter Westwood, £83,090 ( 2023: £83,090).