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REGISTERED NUMBER: 10013095 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Norton Bright Properties Ltd

Norton Bright Properties Ltd (Registered number: 10013095)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Norton Bright Properties Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: O Bright
J Norton





REGISTERED OFFICE: 7 Soundwell Road
Staple Hill
Bristol
Avon
BS16 4QG





REGISTERED NUMBER: 10013095 (England and Wales)





ACCOUNTANTS: Norton Accountancy Ltd
7 Soundwell Road
Staple Hill
Bristol
BS16 4QG

Norton Bright Properties Ltd (Registered number: 10013095)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investment property 4 755,418 755,418

CURRENT ASSETS
Debtors 5 - 8,026
Cash at bank 31,215 15,084
31,215 23,110
CREDITORS
Amounts falling due within one year 6 (58,722 ) (30,637 )
NET CURRENT LIABILITIES (27,507 ) (7,527 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,911

747,891

CREDITORS
Amounts falling due after more than one
year

7

(538,482

)

(588,031

)
NET ASSETS 189,429 159,860

CAPITAL AND RESERVES
Called up share capital 30 30
Revaluation reserve 8 37,902 37,902
Retained earnings 151,497 121,928
189,429 159,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Norton Bright Properties Ltd (Registered number: 10013095)

Balance Sheet - continued
31 March 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 3 October 2024 and were signed on its behalf by:





O Bright - Director


Norton Bright Properties Ltd (Registered number: 10013095)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Norton Bright Properties Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 755,418
NET BOOK VALUE
At 31 March 2024 755,418
At 31 March 2023 755,418

Norton Bright Properties Ltd (Registered number: 10013095)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 37,902
Cost 717,516
755,418

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 8,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 55,485 27,742
Trade creditors (1 ) 1
Taxation and social security 3,238 2,894
58,722 30,637

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 304,080 344,555
Other creditors 234,402 243,476
538,482 588,031

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 220,853 233,586

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 37,902