Registration number:
Northern Estates and Properties Limited
for the
Year Ended 30 June 2024
Northern Estates and Properties Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Northern Estates and Properties Limited
Balance Sheet
as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Allotted, called up and fully paid share capital |
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Profit and loss account |
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Shareholders' funds |
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Registration number: 03570763
Northern Estates and Properties Limited
Balance Sheet
as at 30 June 2024 (continued)
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Northern Estates and Properties Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 June 2024
General information |
The company is a private company limited by shares incorporated in England within the United Kingdom.
The company's registration number is 03570763.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the rent of property and associated services provided in the ordinary course of the company's activities.
Turnover is shown net of value added tax, returns, rebates and discounts
Northern Estates and Properties Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 June 2024
(continued)
2 |
Accounting policies (continued) |
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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.
Investment property
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Northern Estates and Properties Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 June 2024
(continued)
Investment properties |
2024 |
2023 |
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At 1 July |
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612,522 |
Disposals |
- |
(201,500) |
Fair value adjustments |
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33,978 |
At 30 June |
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445,000 |
Properties are valued by the directors based on market conditions and in reference to external valuers calculations and similar properties.
Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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Other debtors |
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- |
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Northern Estates and Properties Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 June 2024
(continued)
Creditors |
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
- |
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Trade creditors |
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Taxation and social security |
- |
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Other creditors |
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Accruals and deferred income |
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Corporation tax |
1,396 |
7,764 |
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Directors loan accounts |
12,135 |
12,135 |
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Loans and borrowings |
Bank borrowings
Included within creditors are bank loans totalling £Nil (2023 - £ |