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REGISTERED NUMBER: 01298777 (England and Wales)















W. NORFOLK & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 FEBRUARY 2024






W. NORFOLK & SONS LIMITED (REGISTERED NUMBER: 01298777)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


W. NORFOLK & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: Mr H.F. Norfolk
Mrs P.M. Norfolk





REGISTERED OFFICE: Town Wall House
Balkerne Hill
Colchester
Essex
CO3 3AD





REGISTERED NUMBER: 01298777 (England and Wales)

W. NORFOLK & SONS LIMITED (REGISTERED NUMBER: 01298777)

BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 685,000 830,000

CURRENT ASSETS
Debtors 5 990 2,626

CREDITORS
Amounts falling due within one year 6 (23,689 ) (29,139 )
NET CURRENT LIABILITIES (22,699 ) (26,513 )
TOTAL ASSETS LESS CURRENT LIABILITIES 662,301 803,487

PROVISIONS FOR LIABILITIES (78,522 ) (105,217 )
NET ASSETS 583,779 698,270

CAPITAL AND RESERVES
Called up share capital 22,000 22,000
Fair value reserve 7 544,317 661,767
Retained earnings 7 17,462 14,503
SHAREHOLDERS' FUNDS 583,779 698,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

W. NORFOLK & SONS LIMITED (REGISTERED NUMBER: 01298777)

BALANCE SHEET - continued
28 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr H.F. Norfolk - Director


W. NORFOLK & SONS LIMITED (REGISTERED NUMBER: 01298777)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

W. Norfolk & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£) and the financial statements are rounded to the nearest Pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The turnover shown in the income statement represents rents receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Financial instruments
Basic financial instruments are recognised at amortised cost.

W. NORFOLK & SONS LIMITED (REGISTERED NUMBER: 01298777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 830,000
Revaluations (145,000 )
At 28 February 2024 685,000
NET BOOK VALUE
At 28 February 2024 685,000
At 28 February 2023 830,000

The investment property was valued by one of the directors of the company, at the year end on the basis of an estimate of the open market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax - 1,636
Prepayments and accrued income 990 990
990 2,626

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors - 44
Directors' current accounts 22,459 27,835
Accruals and deferred income 1,230 1,260
23,689 29,139

W. NORFOLK & SONS LIMITED (REGISTERED NUMBER: 01298777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


7. RESERVES

Fair value
reserve
£
At 1 March 2023661,767
Fair value movement(145,000)
Deferred taxation27,550
At 28 February 2024544,317