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Registration number: 03570763

Northern Estates and Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Northern Estates and Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Northern Estates and Properties Limited

Balance Sheet

as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

445,000

445,000

Current assets

 

Debtors

5

53,508

102,118

Cash at bank and in hand

 

3,558

5,396

 

57,066

107,514

Creditors: Amounts falling due within one year

6

(16,027)

(72,428)

Net current assets

 

41,039

35,086

Total assets less current liabilities

 

486,039

480,086

Provisions for liabilities

(18,351)

(18,351)

Net assets

 

467,688

461,735

Capital and reserves

 

Allotted, called up and fully paid share capital

1,000

1,000

Profit and loss account

466,688

460,735

Shareholders' funds

 

467,688

461,735

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 9 December 2024 and signed on its behalf by:
 

.........................................
Mr C R Lloyd
Company secretary and director

 

Northern Estates and Properties Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2024

1

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:
First Floor
Rosemount House
Huddersfield Road
Elland
West Yorkshire
HX5 0EE

2

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

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if their fair value can be measured reliably.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 0 (2023 - 0).

 

Northern Estates and Properties Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2024 (continued)

4

Investment properties

2024
£

2023
£

At 1 July

445,000

612,522

Disposals

-

(201,500)

Fair value adjustments

-

33,978

At 30 June

445,000

445,000

Properties are valued by the directors based on market conditions and in reference to external valuers calculations and similar properties.

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

555

100

Amounts owed by group undertakings

52,835

101,959

Prepayments

 

76

59

Other debtors

 

42

-

   

53,508

102,118

 

Northern Estates and Properties Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2024 (continued)

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

-

50,000

Trade creditors

 

96

96

Taxation and social security

 

-

33

Other creditors

 

400

400

Accruals and deferred income

 

2,000

2,000

Corporation tax

 

1,396

7,764

Directors loan accounts

 

12,135

12,135

 

16,027

72,428

7

Loans and borrowings

Bank borrowings

Included within creditors are bank loans totalling £Nil (2023 - £50,000). The loans are secured against the various properties owned by Northern Estates and Properties Limited