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REGISTERED NUMBER: 03072747 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Nortonthorpe Industrial Park Limited

Nortonthorpe Industrial Park Limited (Registered number: 03072747)






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


Nortonthorpe Industrial Park Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr E A Brook
Mrs H M Woodhead





SECRETARY: Mrs H M Woodhead





REGISTERED OFFICE: Nortonthorpe Mills
Scissett
Huddersfield
West Yorkshire
HD8 9LA





REGISTERED NUMBER: 03072747 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

Nortonthorpe Industrial Park Limited (Registered number: 03072747)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 172,535 132,155
Investment property 7 2,450,000 2,450,000
2,622,536 2,582,156

CURRENT ASSETS
Debtors 8 1,941,208 2,111,831
Cash at bank 309,415 79,805
2,250,623 2,191,636
CREDITORS
Amounts falling due within one year 9 428,165 501,267
NET CURRENT ASSETS 1,822,458 1,690,369
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,444,994

4,272,525

PROVISIONS FOR LIABILITIES 168,462 161,920
NET ASSETS 4,276,532 4,110,605

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Share premium 1,049,002 1,049,002
Fair value reserve 12 117,415 117,415
Retained earnings 3,109,115 2,943,188
SHAREHOLDERS' FUNDS 4,276,532 4,110,605

Nortonthorpe Industrial Park Limited (Registered number: 03072747)

Balance Sheet - continued
31 March 2024


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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Mr E A Brook - Director


Nortonthorpe Industrial Park Limited (Registered number: 03072747)

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

1. STATUTORY INFORMATION

Nortonthorpe Industrial Park 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 and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts received from rents and services provided during the year.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - Between 20% & 25% on cost straight line

All fixed assets are initially recorded at cost.

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 Statement of Income and Retained Earnings, 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.


Nortonthorpe Industrial Park Limited (Registered number: 03072747)

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

3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 255,798 62,520 318,318
Additions 64,776 48,396 113,172
Disposals - (48,396 ) (48,396 )
At 31 March 2024 320,574 62,520 383,094
DEPRECIATION
At 1 April 2023 151,839 34,324 186,163
Charge for year 17,347 7,049 24,396
At 31 March 2024 169,186 41,373 210,559
NET BOOK VALUE
At 31 March 2024 151,388 21,147 172,535
At 31 March 2023 103,959 28,196 132,155

Nortonthorpe Industrial Park Limited (Registered number: 03072747)

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

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,450,000
NET BOOK VALUE
At 31 March 2024 2,450,000
At 31 March 2023 2,450,000

The investment property was valued by M J Scholey BSc MRICS on behalf of Eddisons Commercial Ltd at £6,000,000 in April 2008. After taking professional advice at 31 March 2014 the company's investment property portfolio has been revalued to £2,450,000 by the director. The director considers that there has been no material change in the value of the investment portfolio since that date up to the balance sheet date.

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 261,758 328,911
Other debtors 1,327,450 1,430,920
1,589,208 1,759,831

Amounts falling due after more than one year:
Amounts owed by participating interests 352,000 352,000

Aggregate amounts 1,941,208 2,111,831

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 23,453 27,880
Taxation and social security 173,413 223,548
Other creditors 231,299 249,839
428,165 501,267

10. SECURED DEBTS

Barclays Bank Plc hold a charge over land and buildings for the overdraft facility of the company. The director, Mr E A Brook, has also provided a personal guarantee of £100,000.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

Nortonthorpe Industrial Park Limited (Registered number: 03072747)

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

12. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 117,415

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr E A Brook
Balance outstanding at start of year 187,521 23,506
Amounts advanced 439,000 344,515
Amounts repaid (439,000 ) (180,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 187,521 187,521

Interest was charged on the above account at a rate of 2%.